Thursday, May 12, 2011 12:06:24 PM
RE: Satie, sideways chart then breakout.
Here's an example I used for a presentation last fall which might give you some ideas.
30 day consolidation scan, narrow range close within +/- 3% of the SMA-20,
then breakout above the +5% level
[type is stock]
and [1 day ago max (30, close ) <= 1 day ago sma(20, close) * 1.03]
and [1 day ago min (30, close ) >= 1 day ago sma(20, close) * .97]
and [close > 1 day ago sma(20, close) *1.05]
Note last line could be modified to look for a break in either direction,
and [ [close > 1 day ago sma(20, close) *1.05] or [close < 1 day ago sma(20, close) *0.95] ]
hope this gives you some ideas, just adjust the tolerances to fit your needs.
Quasi
Here's an example I used for a presentation last fall which might give you some ideas.
30 day consolidation scan, narrow range close within +/- 3% of the SMA-20,
then breakout above the +5% level
[type is stock]
and [1 day ago max (30, close ) <= 1 day ago sma(20, close) * 1.03]
and [1 day ago min (30, close ) >= 1 day ago sma(20, close) * .97]
and [close > 1 day ago sma(20, close) *1.05]
Note last line could be modified to look for a break in either direction,
and [ [close > 1 day ago sma(20, close) *1.05] or [close < 1 day ago sma(20, close) *0.95] ]
hope this gives you some ideas, just adjust the tolerances to fit your needs.
Quasi
I don't work for Stockcharts, I'm just another user always trying to learn more and willing to share what I've already learned.
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