Finding Potential Breakouts

Optuma Scripting
1

Hey

 

I’ve been contemplating the best way to find these potential breakouts before they occur.

 

AS anyone on the forum developed a script to find sideways price action over 12-24 weeks as an example? Would be good to get a list of stocks doing nothing.

NET.png
NET.png1878×927 66.7 KB

2

Hi Jonathan,

You can try using something similar to this script to scan for close within 20% (or 10%) of 52 weeks high and then place a limit order where price is higher than previous resistance.

//Close within 20% of 52 Week Highs
CLOSE() >= (HIGHESTHIGH(RANGE=LOOK BACK PERIOD,BARS=260)*0.80)
and CLOSE() > 5;

3

You can also count how long it’s been since the last pivot and how far it is away, eg WOR is 0.39% from it’s last 10 week pivot high that occurred 19 weeks ago:

Capture
Capture1878×907 134 KB

% from Pivot formula:

V1=PIVOT(MIN=10, TYPE=High);
V2=VALUEWHEN(HIGH(), V1);
C1=CLOSE();
(c1/v2)-1

Time since pivot:

v1=PIVOT(MIN=10, TYPE=High);
TIMESINCESIGNAL(v1)

 

Workbook attached.

 

Pivots.owb (96.6 KB)

4

[postquote quote=53943][/postquote]

How do we get this script using the pivot tool?

5

[postquote quote=53945][/postquote]

Thanks!

 

Only problem i had was work book did display numbers, but instead decimals for the weeks since. :frowning: