Trend consolidation breakout

Category: Screeners By: Nicolas Created: October 11, 2015, 6:03 PM
October 11, 2015, 6:03 PM
Screeners
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This stock screener is for long only strategy. It detects a potential continuation of a trend after a consolidation, as it has many filters it returns only a few stocks but with great potential. Entry would be made with stop order at last candle high price plus half of it. Beware of round price when placing stop orders.

indicator1 = close

indicator2 = Average[30](close)
indicator3 = Average[200](close)
indicator4 = Average[7](close)

// trend detection 
c1 = ((indicator1 > indicator2[1]) AND (indicator2[1] < indicator2) AND (indicator2 > indicator3) AND (Close[1] > indicator2[1]))

// breakout detection 
breakout = ((Open < Close) AND ((Open[1] <= indicator4) OR (Low[1] <= indicator4)) AND Close > Highest[5](High)[1])

// higher past price
histo = High > Highest[20](High)[1]

// slope angle
c2 = ((indicator2 / indicator2[20]) -1) *10 > 0.25

// no price too far from average 
criteria = (CLOSE / indicator2 - 1) * 100
c3 = criteria < 10

// no gap filtering
noGap =((( min (dopen(0) , dclose(0)) / max (dopen(1) , dclose(1)))- 1) * 100) < 0.3

SCREENER[c1 AND c2 AND c3 AND breakout AND histo AND noGap]

 

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Filename: Trend-consolidation-breakout.itf
Downloads: 572
Nicolas Legend
I created ProRealCode because I believe in the power of shared knowledge. I spend my time coding new tools and helping members solve complex problems. If you are stuck on a code or need a fresh perspective on a strategy, I am always willing to help. Welcome to the community!
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