Spotting consolidations with the Aroon indicator old
The Aroon indicator measures trends, but can also be used to spot consolidations. When both Aroon levels are low (below 30 in this case) it means that the stock has not made a new short term high or low in a while. Therefor it is trading in a price range and it could be an interesting trade when it breaks out of this range.
ATR in %: ATR > 1
Minimum volatility to avoid dead stocks
Average Volume: 50 SMA > 500K
Decent volume stocks only
Exchange/Fund: US Only
Only US
Aroon: Aroon up and down below 30
Low Aroon indicator levels
Price: Above 20
Decently prices stocks to avoid junk
Default settings
Regional Run
Run this screen in your favorite region. You can always further fine tune the screen by changing the general settings after it opened in the screener.