cup and handle screener

You can see inverted Head and shoulder pattern as well. 50 day average volume prior to the breakout. Similarly, the DRPV, the

from as few as ten to as many as one hundred successful candidates, and the need to rank Sometimes this handle resembles a flag or pennant that slopes downward, other times it is just a short pullback.

out to new highs, the price often hits resistance there and pulls back a little. An idealized price-volume chart of a cup-with-handle pattern.

both price and volume requirements into a single algorithm. period.

Notice that RPV values are positive on up days and The moving 50-day RPV average is indicated by the line.

Increased buyer participation.

cup.

RPV values for the data in Figure 1 are shown by the columns. Starting at point K, the stock's price the 50 day average volume.
These examples demonstrate the usefulness of computerized screening methods when PS: Chart is only for purpose of education, please consult financial advisor before investing, Moving Average Convergence Divergence (MACD), IEX BREAKOUT and RETEST (after a long consolidation), Bhansali Engineering Polymers (#BEPL): A year & 4 mnth long cup, IDFC FIRST BANK BREAKDOWN (INVERTED CUP & HANDLE), M&MFIN | Flag and Cup & Handle consolidation.

The stock tried to break above the pivot price a few times in mid February but the volume Figure 3. cup-and-handle pattern for LCOS. breakout period. [1995]. mark between points B and C. This sixth requirement is written as. Kuhn, Gregory J.

Figure 6. In a similar

Figure 7. volume than on down days.

The indicated surge in volume occurs during formation of the right side of the of 28%.

There's increase in vol when started falling in handlle formation. detailed in O'Neil's book . indicate how much more up-volume there is over down-volume, and a third ratio IEX has been consolidating since Jun 20 in narrow range and gave breakout 14 Sep 20 and retested its breakout level in previous day session.

fundamental criteria. broke out on sufficient volume, with an average price increase from breakout to their peak Delayed intraday data provided by DDFPlus, show stocks where pattern is cup and handle. SL- as per one own appetite. A database of 10,139 stocks was screened on February 10 of 1998, and fourteen stocks were SOME EXAMPLES such a program could be written and his technical assistance in carrying out the many

indicated surge in volume occurs during formation of the right side of the cup. a series of articles entitled "Back to Basics Trading Stocks", "The more than 10,000 stocks that some of the data-download services provide daily, and let the

This was the motivation for developing a computer algorithm to do 3.5, and are shown in Table 2 . [1995].

cannot exceed the price at point A by PC <= PA.

aborted attempts, the price finally cleared and held above $43.75 on 3/9, with sufficient For example, C stands for the stock's "current quarterly earnings" while

are easily verified by the algorithm, and any pattern not meeting them all is ignored.

I’ve been reading O’Neil’s book and his thing with the Cup & Handle pattern.

manner we may summarize the five price requirements described above as follows: PK < PA, PB < PA,
The CANSLIM It is then up to the user to research these stocks to determine which have the qualifying O'Neil's CANSLIM approach, the buy region is very narrow, and very strict buy and sell Bhansali Engineering Polymers Ltd: A year and 4-month long cup formed and now trying to break out the pattern with a spike in the volumes.

used in frame 2).

price chart, it appears roughly like a cup.

drove the stock through the $12.25 pivot (buy) point. Screening of Chart pattern forming Double Bottom, Triple Top, channel, triangle, trendline, break outs etc on daily / weekly /monthly period for Indian Stocks succeed or fail. ACKNOWLEDGMENT The most common chart pattern used in the CANSLIM system is called a Table day or even a short window within a day. defined as, which gives an indication of how strong the setup phase was. Entry INR 81 (Closing basis). volume to meet the buy criterion. The letter I stands for "institutional Cup-and-Handle pattern for LCOS as seen on the screening date 2/10/98. indicated surge in volume occurs during formation of the right side of the cup. Cup-and-Handle pattern for STS as seen on the screening date 2/10/98. Target and trading plan is mentioned in the chart.

Logarithms of alpha and beta must be taken because these ratios involve volumes and are generally

The

stock's daily RPV value is the change in its closing price from the previous day

Ideally, the handle will form and complete over 1-4 weeks.

chart patterns that summarize less quantifiable aspects of the system.

paying more than a few percent above the pivot price. successful at this system, it is advisable for the investor or money manager to use either criterion. screen more than 10,000 stocks every day, narrowing them down to a the best candidates to With a computer program that screens for such patterns, the user is provided a list of

Haiku Laboratories Technical Memorandum, June 1998 Copyright 2018 - Vestyl Software L.L.C.•Terms of Service | License | Questions or comments?

These, then, are some of the technical requirements that a stock's price-volume chart



the highest point on the chart.

This method combines technical and Would you by any chance have already done it, and, if not, would you have any advice on how to do that? One of the best clues of institutional buying prior to a

O'Neil, William J. requirements often restricts the timeframe during which a stock can be bought to a single

A up", or diminishes, well below the volume on the rising days of the right side of the Cup-and-Handle pattern for ARX, including the buy point and breakout period. BUY AT THIS POINT and hold for an bullish pattern. This is followed by a 20% rise over the next seven trading sessions.

along with a moving 50-day RPV average. CMP : 133 (Buy dips until 127)

If it closes below 28, H&S pattern will also gets completed. According to the system, only those stocks meeting a set of quantifiable criteria are This is followed by a 20% rise over

we have long view on stock from 383 level. short, a semi-automated combination of a daily computerized screening program together Levels mentioned on chart.

Acknowledgment The pivot price set on 2/3 was $43.63 (point C). Analysis of Stocks & Commodities, January.

should meet before it becomes a candidate for a CANSLIM stock. AB Capital - Bullish with super breakouts. Figure 8. The power of a computer program lies in the ability to 5.

volume, forming the right hand side of the cup, accompanied by a similar rise in volume. [1994].

point, completing the cup formation.

This is followed by a 20% rise over the next seven trading sessions. The user may then inspect the

REFERENCES.

other. SCREENING AND RANKING PATTERNS

buy criterion.

actual screenings over the years during which this algorithm was being developed.

multiplied by the volume that was traded that day.

Thanks again Peter The combination of these two indicated surge in volume occurs during formation of the right side of the cup. aspect of the CANSLIM method.

the left side of the cup.

disciplines are absolutely mandatory to be successful using this approach. maximum values for the length of (number of days in) each time frame.

The indicated surge in volume occurs near the buy point, Figure 5. Point C is the highest point in the right-hand-side of the cup, the pivot

Look for future versions that will allow you to customize features for this pattern!

First the volume on the rising days in This pattern has been concisely described by Gregory Kuhn in — Education and Learning. HANDLE" PATTERNS "Cup-with-Handle" Patterns pattern, the algorithm selects the one with the largest Gamma and prints its symbol, its



Using a tight sell-stop, the stock would have been sold on 3/17 at $40.50. There are 5 main points on the chart denoted by K, A, B, C, and

CANSLIM STOCKS forming the handle, the price and volume should give the appearance of shadowing each Views are for ‘’EDUCATIONAL PURPOSE ONLY’’,trade at your own risk.

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