High Tight Flag
High Tight Flag Pattern
The high tight flag becomes visible after a sharp uptrend on high volume. Afterwards, the price - as with the regular bull flag - moves into a sideways range for a short period of time. The price consolidates and the volume decreases significantly. Once the price breaks out above the flag pattern again, one can assume a continuation of the existing bullish trend.
Bull Flag Trading: How To Do It?
This Bull Flag Trading guide explains how to take advantage of the pattern, both as a swing and day trader.
Bull Flag Chart Pattern Explained
A bull flag pattern is a continuation pattern and they frequently occur in stocks that are in a strong uptrend. Because the strong uptrend is almost vertical, it resembles a pole. The sideways price movement that follows has similarities to a flag, hence the name bullish flag formation.
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Find Stocks with High Tight Flag Patterns - A ChartMill Screen
In this video, I show you how to use the ChartMill stock screener to find these types of setups.
Exchange: US Only
Only US stocks
(high>=(high52Weeks*0.75))
Current high within 25% of 52-week high
Bull/Bear Flags: Bull Flag
Pattern recognition
Bull/Bear Flags: Flag Pole Above 10
Length of Flag Pole higher than 10%
sma200: SMA(200) Rising
Long-term trend bullish
Average Volume: 50 SMA > 200K
Sufficient liquidity
Price VS SMA: Price Above SMA(200)
Long-term price trend up
sma50: SMA(50) Above SMA(150)
Short-term trend positive 1
CRS>=70
Solid relative strength
Volume Increase: Volume(Week) 50% Less Than Vol(Previous Week)
Less volume in the flag itself
Price VS SMA: Price Above SMA(150)
Medium-term price trend up
Price VS SMA: Price Above SMA(50)
Short-term price trend up
(close>=(low52Weeks*1.3))
Current close at least 30% higher than 52-week low
sma50: SMA(50) Above SMA(200)
Short-term trend positive 2
sma150: SMA(150) Above SMA(200)
Medium-term trend positive
Daily timeframe
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.