Watchlist script for Double Bottoms / Tops

Optuma Forums Optuma Scripting Watchlist script for Double Bottoms / Tops

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  • #65735
    Tony
    • Topics: 2
    • Replies: 1
    • Posts: 3

    I am currently constructing a workbook of the stocks in the S&P/ASX 200. The workbook includes a watchlist of each of these stocks. I wanted to create a column which shows where a potential double bottom or a double top could potentially arise from where the current stock price is. I was thinking of a script that could detect a potential double bottom or double top within a tolerance of between 1% and 3%.

    An example of this is Polynovo Ltd (ASX:PNV) which I have attached.

    Any help would be greatly appreciated.

    Thanks,

    Tony

    #65739
    Darren
    • Topics: 66
    • Replies: 661
    • Posts: 727

    Hi Tony,

    Here’s the script formula I used to create the example. It’s based on 10% swings, but can be adapted for other values or Gann Swings. Workbook for the ASX50 attached.

    Top/Bottom column for swing direction:

    The column is then formatted under Custom Labels:

    Capture

    Swing % Diff:

    Within 2.5%:

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