Scan for stocks with high ATR?

RPrado

Member
Lifetime
Hi. I wonder if anyone has a scanner that identifies wide range ATR? The breakout indicator is very good for when I have selected a specific ticker. But I am looking to find stocks in wide range ATR in pre market. Thank you,
 
I was wondering if theres a scan that searches for stocks that have a high atr? Example shop has an atr of 18$ on the daily chart is there a way to search for one that's say atr 8 and higher? I have the script of it would help
 

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

@Brettser16 Here is a scan for 2.5 times the ATR. Place the following code in the scanner.
I just scanned the S&P 500 using a daily aggregation and obtained 6 hits

def factor = 2.5;
plot scan = TrueRange(high[1], close[1], low[1]) >= Average(TrueRange(high[1], close[1], low[1]), 10) * factor;
 
Last edited:
@wilmanv You can set it up using the scanner's condition. Something like this:

Ax9y8VG.png
 
@BenTen That should work. Using this in conjunction with the SuperTrend scan. I like stocks that trade with at least a 50 cent ATR. I also use the trend reversal indicator. I know it repaints, but I may have found a visual fix for it that works for me. I've managed 15% to 22% returns on the last several trades I've done over two months. Problem I've had with scanning for the most part is filtering out all the stocks with low ATRs.
 
ok at first i thought that the AtrHighSMA study was basicly just an average true range study, but that does not seem to be what it is. like the title says its funky as hell. Only works on daiily timeframes, ect, ect, ect. Such a simple basic scan suprising its not built in. So if anyone has a script for a basic Atr scan that i can use on multiple timeframes i would be forever greatful.
edit
ok this is my first time playing with the atrhighsmabreakouts filter and of course the market is closed. Although the scan seems to work fine on the daily chart. Maybe this will get me by ok. Whats the volume limit for? is that to set the max or minimum volume.. Not sure why they put that there dont people usually set their own volume limits. dont see that volume settings on too many of the other indicators.
 
Last edited:
Running code against pre-market and comparing to averages that include pre-market data is not simple/reliable in TOS. The reason is there is no data for periods when there was no action. It's not that the values are Double.NaN. Those periods actually don't exist. Look at your chart with Ext Hours on for a stock that didn't do anything in ext hours. There's very few candles. I originally assumed the chart was hiding those periods to compress the space with no data. That doesn't seem to be the case. Watchlist columns also get no data for those periods. I'm guessing the same is true for scans. If that's the case then using a lookback index or any computation with a length of candles to look back will get different timestamped candles on different stocks.

Also, the code given as the original answer for this thread has a bug. TrueRange should be calculated using the high, low and previous close. That example uses the high, low and close from the same period. The reason to use the previous close is to account for gaps.
 

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
420 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