An ascending trendline support is an upward-sloping trendline connecting several price lows. It represents a dynamic support area above which price remains as long as the uptrend is sustained.
In trading, a move back towards this support is a technical setup worth monitoring. Traders may look for a stock approaching its ascending trendline and observe the price reaction when it reaches the support. A bounce may accompany a continuation of the bullish move.
Conversely, a break below the ascending trendline support may indicate a change in market dynamics and call the initial uptrend into question.
The Ascending Trendline Screener automatically scans the market for stocks whose price is returning towards ascending trendline support or starting to break below it.
Results are ranked in the “% Support” column according to the percentage distance between the current price and the trendline support. Stocks closest to their support can therefore be quickly identified.
General filtering on the daily timeframe, based on price and trading volume, allows you to select the desired liquidity level.
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:
Available filters:
General filtering:
Video presentation:
Details of available settings:
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.
Download guide
