Hello,

Can someone please advise the code or settings needed to create a TOS thinkorswim consolidating price scan?

• I would like the price scan to search for stocks that have been consolidating for at least a week or more before breakout (see 30 day chart example).
  
  
  
  
  
  
• Also, is it possible to create a scan for stocks that have been in a price channel before breakout (see 1 year chart attachment).
  
  
  

Thank you for any help offered!

Can someone help out?

tennisguy 

Can someone help out?

I am also looking for this scan. Did you get any help?

Probably do a scan based off a 30M bollinger band with bollingerband width less than X. (where X is the consolidation range)

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Why not concoct an iterative scan that compares how far apart a series of moving averages is over a sequence of dates. For instance, check to see how far apart the averages are from each other starting back a couple of months. Then have the scan perform another check to see how apart they are two weeks ago and so on. This should produce a sort funneling effect over time showing that stocks are moving into a trading range or setting up for a Squeeze play. If this is not workable I would like to hear from any members here why it is not. Cheers.

You can use Bollinger Bands to look for this sort of pattern where the price is squeezing. Or you can use this Sideways indicator: https://usethinkscript.com/threads/sideways-indicator-for-thinkorswim-avoid-trading-in-choppy-markets.419/