• Get $40 off VIP by signing up for a free account! Sign Up

Need help finding intraday charts with gentle trends

steelneil

New member
So, I am trying to figure out how I might scan for stocks that have really smooth charts and price action for the day, like toward the right side of this chart. It doesn't need to be THIS smooth, but something that isn't bouncing around and wicking everyone out. Something with a nice gentle trend. Could someone point me in the right direction? Thank you!

Screenshot 2023-09-18 112825.png


Hi everyone. I am trying to create a scan condition that will help me find charts with relatively smooth price action for the last 30, 1 minute bars. Up or down. Just want a scan that will help me avoid being wicked out. Kind of like the right side of this chart here. Could someone point me in the right direction?
 

Attachments

  • Screenshot 2023-09-18 112825.png
    Screenshot 2023-09-18 112825.png
    24.5 KB · Views: 136
Perhaps using a linear regression channel we can look at the range of trading, even if it is trending:
Code:
def upperChanel = LinearRegChVar("full range" = No, length = 34).UpperLR;
def lowerChanel = LinearRegChVar("full range" = No, length = 34).LowerLR;

def chanelWidth = 100 * ((upperChanel - lowerChanel) / lowerChanel);

plot eureka = if chanelWidth <= 0.5 then 1 else double.nan;

This looks for stocks (as a scanner) where the channel width is less than 0.5 % of the value. It seems to do fairly well at finding things like you are looking for. Try adjusting the 0.5 in the eureka plot line, or the length parameter in the upper/lower def lines to fine tune it to your needs

-mashume
 

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
134 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top