cmlee said:
karthik,
can you upload to me a picture of how your Congestion index looks like?
mine only fluctuate between 0 and 1
First congrats....for becoming a senior member..
I am uploading a chart with the congestion index plot. Note this indicator uses 40 trading sessions.
Lee, First create a new Indicator called Congestion Index with the following formula.
((HHV(C,80)-LLV(C,80))/LLV(C,80))*100.
Then you can plot the same with your stock. Use this indicator to screen for consolidating stocks with the Explorer with the condition <15
Create an Explorer. as follows
Col A: Fml("Congestion Index") < 15
Filter :colA
You can screen the stocks without creating an indicator by directly entering the formula in the Explorer as follows
Col A: ((HHV(C,80)-LLV(C,80))/LLV(C,80))*100 < 15
Filter colA
karthik