Breakout Screens - Using the Aroon Indicator

Breakout Screens - Using the Aroon Indicator Image
RUN IN STOCK SCREENER
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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.


Stock Screener Settings

Price: Above 20

Minimum price

Exchange: US Only

Only US stocks

Aroon: Aroon up Below 30

Low Aroon indicator levels

Average Volume: 50 SMA > 500K

Minimal liquidity

Volatility: ATR(20)% Above 1

Minimum volatility

Aroon: Aroon down Below 30

Low Aroon indicator levels

RUN
Chart Settings

Candlesticks + Aroon Indicator

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.