[amibroker] A Scan for Stocks Making A Breakout From Base

["Dickie Paria" <babui@xxxxxxxxx>]

Buy = LinRegSlope( C, 10 ) < Ref(C, -10 ) *0.6/100 AND
LinRegSlope( C, 10 ) > -Ref( C, -10 ) * 0.3/100 AND Close > Open AND 
Low >= Ref(High, -1) AND Volume > Ref(Volume, -1);

Short = LinRegSlope( C, 10 ) < Ref(C, -10 ) *0.6/100 AND
LinRegSlope( C, 10 ) > -Ref( C, -10 ) * 0.3/100 AND Close < Open AND 
High <= Ref(Low, -1) AND Volume > Ref(Volume, -1);

**************************************************

The above is a scan for picking stocks that are making a breakout 
from base (long or short).  Actually - you can use it for intraday, 
forex, futures, options whatever.  There are some who believe that a 
breakout signal is more valid if the price base is relatively long.  
In that case - change the '10' in the code to whatever number you 
want - lets say - '120'.  If you want to backtest then simply add 
a 'Sell' and/or 'Cover' rule of your choice.  To get you started - 
here's a simple sell/cover rule

Sell = Close < EMA(Close, 5);
Cover = Close > EMA(Close, 5);

I don't believe a breakout signal by itself is profitable - else, 
everybody and their mother would be doing it.  But combine with your 
favorite indicators and you may get a profitable trading strategy.  
For an idea of how to incorporate a 'price base' in the 'Buy' rule 
with 2 indicators - look at a previous post of mine 
titled 'Revelation Trading System' (posted about a week ago on this 
forum). 





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