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Satpak....
Please share any solution you get for this problem.
I have been looking for the answer to this for several years.
One of our board members, Dimitris Tsokakis, found the foundation of a
possible solution when he wrote a plotting trendline routine which would
plot parallel and horizontal trendlines over the prices. You could
specify the width (small to meet the needs of the chart formation you
and I are interested in) and then be prepared to look for the upward
breakout. This is sometimes called the Cooper breakout.
However, Dimitris' solution would only plot trendlines from the current
day backward a specified number of bars. What was and is needed is a
modification that plots backward say 10 days starting at any point you
specify in the past (historical). Then the variables of the pattern
plus the volume component like you mention could be backtested.
This is on DT's "B-Priority" list right now and I agree with his
priority, as he is working several other issues for the members here and
for himself.
Ken
Your name is ??????
-----Original Message-----
From: satpak77 [mailto:satpak77@xxxxxxxxx]
Sent: Sunday, November 09, 2003 1:36 AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: [amibroker] Flat Base High Volume breakout scan?
I am looking to develop a scan that would return "flat base pattern"
stocks, priced 0.25 to $5, which exhibit a base pattern for the last
3 months or more.
I suppose this could be expressed as "never exceeded XXX % +/-" of
its average daily price for the last 3 months. (??)
I also want to include in the scan a volume component, so that the
above flat base pattern stocks are screened and then AmiBroker looks
for 2-times or more volume, along with an accompanying price
increase. This possibly could be done via OBV language.
For a "real world" example, please see IVAN, MITK, CYAN. Please
note the "flat base" which existed along with lackluster volume, and
then accompanying upward price action and volume increase.
That is in a nutshell what I want to scan for.
Sorry for the lengthy post, its 1:30 AM at my house and I am now
looking for outside help with this.
good night
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