Trendline Breakout Screener for ProRealTime

The Trendline Breakout Screener scans financial markets to identify stocks approaching a descending resistance trendline or breaking above it.

A descending resistance trendline connects several price highs and represents a dynamic resistance level. Traders can monitor stocks moving towards this resistance or watch for a potential bullish breakout above the trendline.

Instead of analyzing charts individually, the Screener helps you quickly find stocks near descending trendlines or showing breakout configurations, according to your own criteria.

Find Descending Trendline Breakout Configurations

The Screener identifies stocks presenting different situations:

• Approaching resistance: Price is moving towards a descending resistance trendline.
• Testing resistance: Price is close to the detected trendline.
• Breaking resistance: Price is moving above the descending trendline, indicating a potential bullish breakout.

The results are ranked in the “% Resistance” column, according to the percentage distance between the current stock price and the detected resistance trendline.

This allows you to quickly identify stocks trading closest to their descending resistance.

Customizable Settings

All search parameters can be adjusted directly from ProRealTime’s Variables menu, without modifying the code.

Adjustable validation criteria:

• Number of candles to be analyzed.
• Maximum age of the second contact with resistance.
• Maximum distance between price and the descending resistance trendline.
• Price movement amplitude used for trendline detection.

Available filters:

• Presence of a third contact with the resistance trendline.
• Short-term bullish trend towards resistance.
• Ongoing bullish breakout above the descending trendline.

General market filters:

• Minimum stock price.
• Minimum average volume.
• Average volume calculation period.
• Volume calculated in number of shares or traded value.

The general liquidity filters are applied on the daily timeframe, allowing you to select stocks according to your preferred price and trading volume criteria.

Characteristics

• Works on all timeframes.
• Compatible with ProRealTime V11 and later versions.
• Compatible with the free version of ProRealTime (daily closing prices).
• Customizable trendline detection and liquidity filters.
• Settings adjustable without modifying the code.
• Descending Trendline Indicator included.
• Free automatic updates.

Video Presentation

Video in French – English subtitles available.