Breakout Screens - Finding Horizontal Bases using ChartMill Channels

Breakout Screens - Finding Horizontal Bases using ChartMill Channels Image
RUN IN STOCK SCREENER
(107)

Using chartmill channels in combination with trend intensity can find some nice horizontal basing patterns.


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Chartmill Channels

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Stock Screener Settings

LCC Strength: LCC Strength > 3

The lower channel strength is at least 3

UCC Length: UCC Length > 20

The upper channel has a minimum length of 20 days

Average Volume: 50 SMA > 500K

A minimum required volume to filter out less liquid stocks

LCC Length: LCC Length > 20

The lower channel has a minimum length of 20 days

UCC Strength: UCC Strength > 3

The upper channel strength is at least 3

Trend Intensity: TI > 105

Trend intensity is at least 105, this means a strong trending stock

CC Width: max 8%

Prices are in an 8% range

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Chart Settings

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.