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Scan for stocks moving 2+ATRs?


New member
Hey everyone, I was wondering if I could create a scan for when a stock has moved over 2ATRs. I feel like this should be fairly simple but I can't seem to figure it out. I have a few trades that work particularly well when a stock is over extended and has moved over 2ATRs. Any thoughts on how best to execute this? Thanks!
I think, from what you wrote, that this will be close to what you are looking for:
def L_ATR = ATR();
def upper_bound = close[1] + (2 * L_ATR[1]);
plot eureka = if close > upper_bound then 1 else double.nan;
I'll explain some of it.
The L_ATR is a local atr (I don't like to use study names as local variables... too many years coding)
then we take the close yesterday, again using the [1] notation and add twice the L_ATR from yesterday as well
lastly, we look at the close for today (or the current value as ToS does it really) and check whether it is above the upper bound that we set.

Today, it returned 3 tickers for me (with a few other filters for volume and minimum price (I don't do penny stocks)

good luck

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