Breakout Screens - Above 52 Week High + Increased Volume
Swing Trading Momentum Screen: Breakout Setups
Finding Breakout Setups for Swing Trading using the ChartMill Screening Filters.
Adjusting Basic Screening Filters To Find The Best Momentum Movers
In this article I will elaborate on a number of different screens that you can use to find qualitative momentum setups and I will go over a number of tweaks that allow you to fine-tune the screens so that they fit your personal situation even better.
The Breakout Trading Strategy
The Breakout trading strategy is a strategy by which a position is taken as soon as a certain price level is broken.
Signal: New 52 week high
This filters for stocks near a new 52 week high.
Volume Increase: Volume 100% More Than Previous Volume
significantly increased volume supports the breakout
Price: Above 10
suggested minimum price, to be adjusted to your own preference.
Volume Increase: Volume 50% More Than Vol(50)
additional volume filter for confirmation
ETF: No ETFs
only stocks, no ETF's
Average Volume: 50 SMA > 300K
This filters for stocks with a minimum average daily volume of at least 300K. This filter ensures liquidity.
Exchange: US Only
suggested market, to be adjusted to your own preference.
5sma, 10sma and 20sma as overlays
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.