Consolidation area


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HI Pete,

I have been watching your videos, they have been great help and learning process . I appreciate everything you do to help 🙂

There is a way to find sctocks that has been consolidated for over 20 minutes on the 1min or 5 minute time Frame,

sometimes there is a stocks that is trending up then pulls backs and rest for awhile usually between 11:30 and 1:30 then breaks up to the upside or downside, with a confirmation with change on volume if is going to break out?  or maybe just find the consolidation 

 

thank you

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Posted by (Questions: 4, Answers: 1)
Asked on October 12, 2019 7:10 pm
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You will need to work with one of the many built-in chart studies to find one that responds to the particular price structure you need. Your screenshot of the chart does not contain enough information. You thought you would zoom in to just the price action and that would suffice. However we need to see the price range on the chart as well as the time frame it's set to and the ticker symbol loaded on the chart.

If you want a custom solution, you will need to provide exact specifications for how you want this computed. For example, the following post does almost exactly what you have requested but the author of that post provided very specific details:

https://www.hahn-tech.com/ans/volatility-squeeze-or-price-contraction/

The code for that post was designed for a daily time frame but you can apply it to whatever time frame you want and adjust the input named "numberOfDays" to however many bars you want this structure to consist of.

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Posted by (Questions: 37, Answers: 4118)
Answered on October 13, 2019 8:55 am