This flag consolidation setup stock screener will help you find with ease good potential entry points for long setup for stocks which have made a recent Volume spike and a sharp move.
Here is how it has been formulated:
- there was a breakout of Volume over its 20 periods average in the last 10 days
- the squared percentage of the price Close minus the 7 periods average made a breakout over its 200 periods average + 80% of its standard deviation
- the SMA 7 is over the SMA 200 and price Close is over the SMA 200
- the current candlestick High is below the highest high of the last 3 periods
This stock screener had been developed following a request in the screener forum:
https://www.prorealcode.com/topic/screener-for-stock-trading-flags/
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//PRC_Flag stock screener | screener //22.10.2020 //Nicolas @ www.prorealcode.com //Sharing ProRealTime knowledge c1 = summation[10](volume crosses over average[20](volume))>0 a = summation[3](close-average[7]/average[7]) diff = square(a-a[1]) avg = average[200](diff)+std[200](diff)*.8 c2 = summation[10](diff crosses over avg)>0 c3 = average[7]>average[200] and close>average[200] c4 = high<highest[3](high) c = c1 and c2 and c3 and c4 screener[c] |
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ProRealTime ITF files and other attachments :
Filename : download the ITF files
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can you do this screener in indicator thank you
Just change the last line with: RETURN c
thank you nicolas.i was follow you more years a go only say you you are the best in the world for me.
hi, can you improve on this ? can you make this flag screeener for day trading, I want to be be able to use the flag screener for screening intra-day changes.
thanks
Please open a new topic in the proscreener forum for this specific query. Please provide explanation and example if possible. Do not forget to respect the posting rules please.
Nice screener. Only thing is I wonder if this is aimed more at small/medium/large caps? I ran this on the UK market and I am getting quite a varied mix of caps, some very big mixed with very small ones.