Breakout Screens - Finding Horizontal Bases using ChartMill Channels
Finding horizontal bases using Chartmill Channels.
Learn how to find horizontal bases after a strong uptrend by using ChartMill Channels
Popular Screens: Finding narrow trading ranges using Chartmill Channels
Finding narrow trading ranges with ChartMill Channels
Chartmill Channels
A Chartmill Channel is a horizontal channel wherein prices move sideways
Support and Resistance Stock Screener and Trading Strategies
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LCC Strength: LCC Strength > 3
The lower channel strength is at least 3
Average Volume: 50 SMA > 500K
A minimum required volume to filter out less liquid stocks
UCC Length: UCC Length > 20
The upper channel has a minimum length of 20 days
UCC Strength: UCC Strength > 3
The upper channel strength is at least 3
LCC Length: LCC Length > 20
The lower channel has a minimum length of 20 days
CC Width: max 8%
Prices are in an 8% range
Trend Intensity: TI > 105
Trend intensity is at least 105, this means a strong trending stock
The channels on a daily chart
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.