Stocks in specific band within a Bollinger

This example is just to show the amazing flexibility of ChartSmart. You would find it difficult to find any other software that would do this. Let us assume you want to find stocks that are trading below their upper Bollinger Band but they must be very close to it, say at least 20% below the upper band but not yet having gone above the upper band. These stocks may be primed to cross the band but have not yet done so. In this example we use the 20 day Bollinger bands but we could use the 10 or 50 day Bollinger Filter criteria if we wanted. In order to meet the requirements we want to specify that:

% close is above the 20 day lower band is >=80
% close is below the 20 day upper band is >= 0

This ensures the stocks must be trading within the upper 20% of the difference between the upper and lower Bollinger Bands. The diagram below helps to explain where the stocks will trade.

The last price must fall in the area where the 2 "XXXXXXXXXXXXXXXXXX' strings are.

------------------------------------ upper band
XXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXX
------------------------------------- 20% from the upper band
X 80% from the lower band
X
X
X
X
X
X
X
------------------------------------ lower band

If you are a Bollinger Band enthusiast then this filter allows you tremendous flexibilty which is quick and easy. In addition you are able to screen out from virtually all Canadian and US stocks and combine this filter with any other criteria. As an additional criteria we have specified that the closing price on the day is at least within 10% of the daily high. This might be further indication that the stock is showing strength. Also the price must be within 20% of the year low and in this example is that the stocks screened must be on the American, New York, or Nasdaq Exchange.

Click on the images to enlarge them.

How to Screen Out these Stocks with ChartSmart

Creating this Filter List is quite simple. You can view the criteria and their settings in the criteria settings as shown. Next click on RUN FILTERED LIST, close the filter menu and go to the chart menu. Next click on the GRP button and then use the FORW button and BACK button to scroll through the charts in your filtered list.

Watch the video of this strategy.

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