Breakout Screens - Using the Aroon Indicator
The Aroon indicator measures trends, but can also be used to spot consolidations. When both Aroon levels are low (below 30 in this case) it means that the stock has not made a new short term high or low in a while. Therefor it is trading in a price range and it could be an interesting trade when it breaks out of this range.
Aroon: Aroon down Below 30
Low Aroon indicator levels
Price: Above 20
Minimum price
Exchange: US Only
Only US stocks
Average Volume: 50 SMA > 500K
Minimal liquidity
Volatility: ATR(20)% Above 1
Minimum volatility
Aroon: Aroon up Below 30
Low Aroon indicator levels
Candlesticks + Aroon Indicator
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.