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High Low Range Breakdown Scanner
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3 Months Range Breakdown with ADX Indicator Strategy Scanner
Three Months Range Breakdown strategy using the ADX indicator helps filter false signals and identify strong bearish trend breakdowns.
Strategy Description
Scanner Conditions
- Latest close is below the latest open, confirming bearish momentum.
- Latest close is at least 1% below the lowest low of the last 60 ticks (from previous tick), indicating a strong breakdown.
- Current tick volume is greater than the 20-tick average volume, indicating strong selling participation.
- ADX is above 20, confirming a strong directional trend.
- Stock shows overall bearish technical strength.
Additional Considerations
- Timeframe: This strategy works best on the daily timeframe.
- Volume Confirmation: Monitor volume closely – breakdowns are more reliable when supported by strong average volume.
- Avoid Sudden Drops: If there’s a sharp price decline in the last two ticks, remain cautious as oversold conditions may trigger a short-term bounce.
- Filter Stocks: Apply this strategy to your preferred stock basket or watchlist.
Fine Tune : You can customise these screeners by clicking on 'Fine Tune Filter' Option
Caution : All these screeners are crafted based on some historical scenarios which may / may notbe applicable here. We recommend to fine tune them according to current market conditions or seek expert advise before taking any decision.