How to scan for 45 degree trend channel stocks?

[c0der]

Criteria:
1. Trend channel between 30 to 55 degrees for at least past 3 months
2. No parabolic moves
3. Retracement candles must be smaller than trending candles
4. Price currently sitting on bottom of trend channel

 

[Joshua]

Well, that is going to be difficult considering there is basically no such thing as geometric angles in price charts.

 

[halcyonguy]

Criteria:
1. Trend channel between 30 to 55 degrees for at least past 3 months
2. No parabolic moves
3. Retracement candles must be smaller than trending candles
4. Price currently sitting on bottom of trend channel

your 4 rules are too vague. go through them and under each rule , write some sentences to describe the key words. and repeat. eventually you will be close to having some formulas. here are some thoughts/questions to get you started.

1. what defines a trend? do you have to find a trend, or just 2 close prices, 3 months apart?
can use the example here to calc degrees ( although x and y have different units....)
https://tlc.thinkorswim.com/center/reference/thinkScript/Functions/Math---Trig/ATan

2. i think a parabola is y=a * x^2 + b
or just y=x^2. could calc a few previous bar to bar moves , and see if they are within some % of it.

3. Retracement candles , what defines them?
trending candles , what defines them?

4. bottom of trend channel,
assumming you can calc the upper and lower levels of a trend channel, what % of the channel is considered the bottom ?
trend channel, what defines it?

 

[spartan.ts]

Hello, wondering what became of this?

I would be interested in having a period HL based ( degree specified) trendline shown in direction of trend possibly from MA or higher timeframe HL pivot point. Retracement angle could be used from 38.2 fib. Or 68.2.

Been trying to figure this out using separate PSAR up/dn .. but can't get the numbers quite right. The degree based trendline from HL would help plant direction of movement. I guess it would work like HL anchored vwap.

Mostly just throwing ideas out but also wondering if anything became of this?

Thanks

 

[moxiesmiley]

Hello, wondering what became of this?

I would be interested in having a period HL based ( degree specified) trendline shown in direction of trend possibly from MA or higher timeframe HL pivot point. Retracement angle could be used from 38.2 fib. Or 68.2.

Been trying to figure this out using separate PSAR up/dn .. but can't get the numbers quite right. The degree based trendline from HL would help plant direction of movement. I guess it would work like HL anchored vwap.

Mostly just throwing ideas out but also wondering if anything became of this?

Thanks

I think it would be possible. Decide on a MA, Timeframe and a comparson formula based on percents and not angle. But if you are looking for stocks that rise above a 45 degree angle, there are easier ways solving that problem

 

[spartan.ts]

I think it would be possible. Decide on a MA, Timeframe and a comparson formula based on percents and not angle. But if you are looking for stocks that rise above a 45 degree angle, there are easier ways solving that problem

Ideally you'd want all to be adjustable. But to keep it simple, SMA for MA, timeframe would be current, and percent would be 20% from a period based highlow or fractal HL point.

whether 20 or 45, i think it depends on the cross point. ideally you'd want it to be based off the H or L of broken trendline or in this case crossing of percent/angle line.

 

[spartan.ts]

I found this Auto_trendline script that has a good base for creating trendline strategy.
https://usethinkscript.com/threads/...line-indicator-for-thinkorswim.271/post-71717

this anchored vwap off Fractal pivots shows what it can look like but with trendline .
https://blog.thetrader.top/thinkorswim-indicator-anchored-vwap/

the end result would be a combination of these 2 with an added user percent angle. an added feature would be to connect HL when confirmed from HL points.