Screeners: Range

Range Screener for ProRealTime

Find range-bound stocks and current breakouts

A Range is a phase during which price moves sideways between a support zone and a resistance zone. Successive contacts with these two zones define the channel in which price is moving.

This sideways consolidation phase may continue within the range or end with a breakout above resistance or below support.

In trading, several setups can be considered within a range. A bounce off support can be traded to the upside, targeting a move back towards resistance, while a rejection at resistance can be traded to the downside, targeting a move back towards support.

In the event of a range breakout, the theoretical target corresponds to projecting the height of the range from the broken boundary: above resistance for an upside breakout, or below support for a downside breakout.

Description

The Range Screener scans the market for stocks trading within a range, based on the criteria defined by the user. The last 150 candlesticks are analyzed to identify a potential range.

Results are sorted according to the position of the current price relative to the range, making it easy to distinguish between stocks trading within the range and those currently breaking above or below it.

A general filter applied on the daily timeframe, based on price and trading volume, allows you to select the desired level of liquidity.

Many parameters allow you to adapt the search to your own criteria. All settings can be adjusted directly from ProRealTime's “Variables” menu, without modifying the code.

Adjustable validation criteria:

• Minimum Range height
• Minimum Range length
• Maximum allowed range excursion

Available filters:

• Current price within the Range
• Breakout above the Range
• Breakout below the Range
• Minimum 2 upper contacts and 2 lower contacts, alternating

General filtering:

• Minimum price
• Minimum average volume
• Average volume period
• Volume calculation: number of shares or traded value

Video presentation:

Details of available settings:

Download guide

Characteristics

• Works on all timeframes (4H and above recommended)
• Compatible with ProRealTime V11 and later
• Free ProRealTime (daily closings) compatible
• Settings can be adjusted without modifying the code
• Range indicator included
• Free automatic updates for life

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Disclaimer

Our proposed tools (indicators and screeners) are not investment advices but tools allowing everyone to find specific graphic configurations. The automated trading systems offered have been developed and optimised using historical data; however, past performance is no guarantee of future results. Investing in the financial markets involves risks up to and including the total loss of capital. The user of the proposed tools understands and accepts that the use of these tools is under his sole and entire responsibility. P2C Trading declines all responsibility in the use of the tools and the consequences that would result.