Louis,
You may want to try the code below to find stocks that are trading in
a range or band.
// include within your parameters listing
RP = Param("Trading Range Period" , 30, 10, 240, 1);
MRB = Param("Max Range Band in %" , 20, 1, 30, 1);
// Calculate the trading Range Band --------------
RBH = Ref(HHV(Close,RP), -1); // Highest Close over
Range Period
(Preceeding RP days)
RBL = Ref(LLV(Close,RP), -1); // Lowest Close over
Range Period
(Preceeding RP days)
RBP = ((RBH - RBL) / RBH) * 100; // Range Band in
percentage
IRB = RBP <= MRB;
// Range Band % less than Max RB %
CBR = C > RBH; //
Close above Range Band?
The idea is to take a look at the highest closing price and the lowest
closing price over x days, determine how tight that trading range has
been.
I use the above code to find breakouts from these ranges.
MM
