Screener for stock trading flags

nealhart · 2020-10-18T17:12:42+00:00

Hi, I am trying to find a good formula for flag consolidation setups? (primarily buying stocks on daily timeframe) For examples – please see attached. Main filters would be… 1> a recent volume spike ( within 10 days) 2> gap up or sharp climb in price movement +3 daily candles (flagpole) 3> a sideways volume consolidation of at least 3 days ( flag) Thanks very much Neal

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10/18/2020 at 6:12 PM #147670 quote

nealhart
Participant

Junior

Hi, I am trying to find a good formula for flag consolidation setups? (primarily buying stocks on daily timeframe)

For examples – please see attached.

Main filters would be…

1> a recent volume spike ( within 10 days)

2> gap up or sharp climb in price movement +3 daily candles (flagpole)

3> a sideways volume consolidation of at least 3 days ( flag)

Thanks very much

Neal

FLAG-SCREENER-EXAMPLE-2.jpg FLAG-SCREENER-EXAMPLE-3.jpg FLAG-SCREENER-EXAMPLE.jpg

10/19/2020 at 1:10 PM #147749 quote
Nicolas
Keymaster

Legend
Here is how I coded it and should be more or less in accordance in what you need.
1. there was a breakout of volume over its 20 periods average
2. 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
3. the SMA 7 is over the SMA 200 and price is over the SMA 200
4. the current candle high is below the highest high of the last 3 periods
```
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]
```
flag-stock-screener.png
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