Gold Customer
Joined: 6/23/2011 Posts: 28
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I know you can, but would you please help me develop a scan that will find stocks that currently have a consolidating price pattern.
I can fill in the qualifiers once I have a scan that will identify consolidation.
Thanks
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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It depends on what you mean specifically by consolidating. Do you mean price has remained within a certain percent range for some arbitrary number of bars (the following checks for price to have remained within a 5% range for 20-bars:
MAXH20 <= 1.05 * MINL20
Do you mean price has remained withen a certain range as over some short period as compared to a longer period (the following checks for the price range over the most recent 15-bars to be less than 20% of the price range over the most recent 100-bars):
MAXH15 - MINL15 < .2 * MAXH100 - MINL100
Or do you mean something else? If you have another unambiguous objective definition in mind, we would need further clarification from you as to that definition so we can help you attempt to implement it in TC2000.
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