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Registered User
Joined: 10/7/2004
Posts: 30
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Hi,
Pls take a look at the daily charts for LNDC.
The stock hit resistance near $14 several times over the past 4 months and finally broke out above that level this week.
Can you suggest a PCF that could scan for stocks like this *before* they break out ?
thanks,
emthree
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 Gold Customer
Joined: 2/1/2006
Posts: 98
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Hi emthree,
I'm taking a stab at this, but I think this is what you are looking for.
C > MaxH250.1
Today's value is higher than last year high from yesterday.
Good luck,
-mjtran
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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emthree,
The trainers can only help you write scans for what has already happened, not what will happen. If you objectively describe the conditions you think come before breakouts of this type, we can try to help you write a scan for the conditions you describe.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/7/2004
Posts: 30
|
Hi Bruce,
Objectively describing the conditions is the challenge as there are some 'grey' areas in the pattern which the eye can recognize but
hard to fit into a fixed set of rules.
Here are some recent examples;
MON from 07/13/07 to 08/31/07.
MPEL from 07/09/07 to 09/10/07.
LNDC from 05/25/07 to 09/18/07
I would describe the pattern as follows;
Price retraces at least 5% from a peak,
then rallies to within 1% of the previous
peak, then retraces at least 5% again and rallies back to within 1% of that previous peak. This pullback can repeat any number of times within the past 100 trading days.
Pls take a look at the 3 examples above together with my description of the pattern and let me know whether you can suggest how I can build a Easy Scan to identify when these conditions occur.
thanks,
emthree.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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emthree,
I cannot think of a practical method for creating an EasyScan to find the described setup.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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