This screen only has 2 filters:
The minimum volume requirement is set because the underlying indicator (Effective Volume) will be less accurate for stocks trading low average volumes. You can find an introduction on Effective Volume here, but in this article we will go a bit deeper into its practical usage.
As the only real indicator used in this screen is the Effective Ratio, a good understanding of Effective Volume (EV) and Effective Ratio (DER) is a must. The articles below should provide some basic insights:
The screen uses the 'Large Effective Ratio' to determine an increasing LEV line. The condition '5DER > 4%' implies that the Daily Large Effective Volume number is positive and above 4% of the total daily volume on average in the last 5 days.
As this screen does not contain any other filters, it will display all stocks showing decent accumulation. It is up to the user to filter out those stocks that also form bases or declines manually. This screen could easily be combined with other filters filtering for base formations or price stability.
To bring this into practice, we will discuss some of the results we are getting when running the screen at the day of writing this article.
Lets discuss each of these in some more detail:
As this screen only checks for the large players buying and we are manually filtering for base patterns it does make sense to add some filters so that we only get results which are actually consolidating. There are many options to do this, we will just mention a couple: