Tell me? H-L dispersion scanner/screener/tool.

Discussion in 'Strategy Building' started by MrAgi1, Apr 16, 2021.

Can I get such a scanner/screener/tool?

  1. Yes, It already exist and maybe for free.

  2. No, you have to program it yourself.

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  1. MrAgi1

    MrAgi1

    Hey Guys, A quick question here.

    I would like to know if there is such a tool/scanner that calculates the standard deviation of daily H-L of an asset(e.g stocks, currencies).

    Let me explain. Assume I have stocks A and B and A= (5,6,5,5,6) and B=(5,2,6,7,9). The values in the bracket for A and B represent the High-Low for each day of the past 5 trading days.

    I actually have an idea of a trading strategy in my head, but the ATR would be useless for my strategy. What I need is a stock that has a very low dispersion about its daily High-Low values. In the Example above stock A has its daily range mostly around 5 or 6, which means it has a consistent true daily range value. Unlike stock B that could have almost any daily range.

    This is just a rough example, and 5 days is too small a sample size, would prefer an asset with similar high-low values over say 30 days. I know there is probably no stock or forex pair that always have the same daily range, but I need a scanner that finds stocks or forex pairs that have a consistent daily range, for instance, the High-Low is always within +5 percent or -5 percent of a certain value.

    I hope I explained my question well. Thanks for your contributions.
     
  2. jharmon

    jharmon

    Write it yourself - it's a 5 line Python script.
     
    MrAgi1 likes this.