Registered User
Joined: 6/23/2012
Posts: 19
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Can you please tell me how to create a scan to find a stock or stocks whose current bandwidth is a minimun for its stock for, say, 126 days. This is what Bollinger scans for re: bandwidth.
TedKurtz
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The easiest way to do this is to add a Bollinger BandWidth indicator to the chart with the desired settings. Then click on it and select Create Condition (or Create Scan Condition) to create a condition for a New Low (with the period set to 126 days).
A condition formula for this would depend on the period of the Bollinger Bands. For example, a condition formula for the Bollinger Bandwidth 20, 2.00 being at its minimum over the most recent 126 bars would be the following.
4 * STDDEV20 / AVGC20 <= MIN(4 * STDDEV20 / AVGC20 , 126)
Although you could probably get very similar results using the following instead.
STDDEV20 = MIN(STDDEV20, 126)
-Bruce
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