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breakout

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  #1  
Old 17th August 2005, 08:39 AM
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Default breakout

hi,
can i know what are the indicators to look at to spot a potential breakout?
thanks



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  #2  
Old 17th August 2005, 08:45 AM
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Default Re: breakout

heavy volume on break out is a relaible indicator but never forget to put ur stoploss,this is the most important indicator than anything else.
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Old 17th August 2005, 08:51 AM
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Default Re: breakout

heavy volume can only be known on the day of breakout itself is it?
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Old 17th August 2005, 10:14 AM
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Default Re: breakout

Here is a live breakout. KEC intl has broken out of a consolidation. The tgt for this breakout is likely to be 298.

Last edited by cooldude; 28th October 2011 at 10:29 AM.
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Old 17th August 2005, 11:00 AM
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Default Re: breakout

in this case there is no increase in volume.
how can you be should that it is a breakout?

Quote:
Originally Posted by cooldude
Here is a live breakout. KEC intl has broken out of a consolidation. The tgt for this breakout is likely to be 298.
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  #6  
Old 17th August 2005, 03:44 PM
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Default Re: breakout

Checked the close of KEC? Price precedes everything. Price precedes technicals, technicals precedes news . Check my post on Radico, very similar breakout it has reached the mentioned targets.
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Old 17th August 2005, 03:51 PM
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Default Re: breakout

how can i use metastock to detect breakout?
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  #8  
Old 17th August 2005, 07:41 PM
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Default Re: breakout

Quote:
Originally Posted by cmlee
how can i use metastock to detect breakout?
Here is the Metastock formula for breakout detection

Consolidation Breakout Upside
If(Ref(Fml("Congestion Index"),-5),<,10,
{and} If(Fml("Congestion Index"),>=,10,
{and} If(CLOSE,>,Ref(HHV(C,80),-5),
{and} If(Mov(V,5,S),>=,1.5*(Ref(Mov(V,60,S),-5)),+1,0),0),0),0)

Consolidation Breakout Downside
If(Ref(Fml("Congestion Index"),-5),<,10{%},
{and} If(Fml("Congestion Index"),>=,10{%},
{and} If(CLOSE,<,Ref(LLV(C,80),-5),
{and} If(Mov(V,5,S),>=,1.5*(Ref(Mov(V,60,S),-5)),+1,0),0),0),0)

Congestion Index

((HHV(C,80)-LLV(C,80))/LLV(C,80))*100

You can use these formulas in the explorers to screen the stocks
hope this helps

Karthik
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Old 17th August 2005, 08:41 PM
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Default Re: breakout

when you use this on KEC is it successful?

Quote:
Originally Posted by karthikmarar
Here is the Metastock formula for breakout detection

Consolidation Breakout Upside
If(Ref(Fml("Congestion Index"),-5),<,10,
{and} If(Fml("Congestion Index"),>=,10,
{and} If(CLOSE,>,Ref(HHV(C,80),-5),
{and} If(Mov(V,5,S),>=,1.5*(Ref(Mov(V,60,S),-5)),+1,0),0),0),0)

Consolidation Breakout Downside
If(Ref(Fml("Congestion Index"),-5),<,10{%},
{and} If(Fml("Congestion Index"),>=,10{%},
{and} If(CLOSE,<,Ref(LLV(C,80),-5),
{and} If(Mov(V,5,S),>=,1.5*(Ref(Mov(V,60,S),-5)),+1,0),0),0),0)

Congestion Index

((HHV(C,80)-LLV(C,80))/LLV(C,80))*100

You can use these formulas in the explorers to screen the stocks
hope this helps

Karthik
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  #10  
Old 17th August 2005, 11:47 PM
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Default Re: breakout

cmlee

The formula I gave was from guppytraders.com. After experimenting with this I found that we have to fine tune this to suit the market condition. The formula assumes that during consolidation the congestion index is less than 10% and the consolidation period is quite long. In a fast market like the one we are seeing the consolidation period is short and the the congestion value is rarely less than 10%. So after some fine tuning I found that 15% congestion value is more appropriate for our present bullish market we are seeing. Also I reduced to period to 40. With this the Indicator does show the breakout for KEC. Also for D-LINK which jumped up by 15 points the Indicator showed the breakout. My tuned formula is given below for your reference. Iam enclosed the charts also.

Consolidation Breakout - Upside
If(Ref(Fml("Congestion Index"),-5),<,15,
{and} If(Fml("Congestion Index"),>=,15,
{and} If(CLOSE,>,Ref(HHV(C,40),-5),
{and} If(Mov(V,5,S),>=,1.5*(Ref(Mov(V,40,S),-5)),+1,0),0),0),0)

Consolidation Index
((HHV(C,40)-LLV(C,40))/LLV(C,40))*100

Karthik



Last edited by karthikmarar; 20th May 2008 at 12:31 AM.
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