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A large stock price movement after a consolidation may signal a new bullish or bearish trend.
This screen search for stocks that made large price and volume gains after a short period of consolidation.
Large price gain is signaled when the price increases more than 5% and large volume gain is signaled when volume becomes higher than 1.4 times the average volume of the last 50 trading bars.
The consolidation rule generates a signal when the difference between the highest high and lowest low of the previous five bars is less than 2%. The number of bars as well as the two percents variables can be updated in the screen formula.
The screen adds also two columns that show the price and volume gain in percentage.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
