Breakout Screens - Finding Horizontal Bases using ChartMill Channels
Using chartmill channels in combination with trend intensity can find some nice horizontal basing patterns.
Finding horizontal bases using Chartmill Channels.
Learn how to find horizontal bases after a strong uptrend by using ChartMill Channels
Popular Screens: Finding narrow trading ranges using Chartmill Channels
Finding narrow trading ranges with ChartMill Channels
Chartmill Channels
A Chartmill Channel is a horizontal channel wherein prices move sideways
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LCC Length: LCC Length > 20
The lower channel has a minimum length of 20 days
Trend Intensity: TI > 105
Trend intensity is at least 105, this means a strong trending stock
LCC Strength: LCC Strength > 3
The lower channel strength is at least 3
CC Width: max 8%
Prices are in an 8% range
Average Volume: 50 SMA > 500K
A minimum required volume to filter out less liquid stocks
UCC Length: UCC Length > 20
The upper channel has a minimum length of 20 days
UCC Strength: UCC Strength > 3
The upper channel strength is at least 3
The channels on a daily chart
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.