Overview

The Pro Daily Breakout Screener is a powerful tool designed to identify high-probability breakout setups for the next day trading session.

By analysing market compression, multi-day ranges, Central Pivot Range levels, and volume dynamics, this screener provides traders with actionable opportunities ready to break out of key levels.

Key features

1. Dynamic breakout detection : Identifies setups ready to break out based on technical compression and range conditions
2. Current and next day CPR analysis : Calculates today’s and tomorrow’s CPR levels to highlight potential breakout setups in advance
3. Multi day-range evaluation : Analyzses narrow ranges over multi-day periods for breakout readiness
4. Compression analysis : Detects low-volatility phases, signaling imprending price expansion
5. Next-day mode: Works after market close and lets you prepare the watchlist for the next daily session
6. Multi instrument support: Compatible with stocks, forex, futures and other assets

Benefits for traders

• Anticipate market big moves: Spot breakout opportunities in advance
• Save time: Automatically scan the market for the best setups
• Improve trade accuracy: Rely on precise and accurate CPR and range calculations to focus on high-probability breakout trades
• Adaptable strategy: use it intraday for immediate setups or post-market for tomorrow’s opportunities and preparation
• Versatile application: Works across various instruments and markets to suit yuour trading style

How it works

The Pro Daily Breakout Screener uses advanced technical analysis to identify breakout-ready instruments.

1. Compression detection: Identifies low-volatility phases by comparing the current range and CPR width against historical averages
2. Range analysis: Evaluates muli-day ranges to detect narrow ranges signaling potential price expansion
3. Inside days and multi-day pattern: Screens for consecutive inside days or narrow ranges, indicating heightened breakout potential
4. Next CPR levels: Calculates tomorrow’s CPR (Central Pivot Range) to anticipate breakout setups for the upcoming session
5. Volume and price conditions: ensures sufficient volume and price activity to validate tehe strength of the setups

This systematic approach allows traders to pinpoint opportunities with minimal effort, ensuring they never miss a potential breakout.

Settings

• PERIOD: leave it to “Daily”
• MINPRICE: the minimum price of the stock or asset to scan
• MAXPRICE: the maximum price of the stock or asset to scan
• VOL: the average volume of the asset (default = 1 Mio, ensures enough liquidity when used for stock scan)
• ADR: the minimum average daily range of the asset (default = 0,50$)
• ADRRATIO: the minimum ratio between the ADR and the last close price (default = 2%). The higher this number is, the more the asset is moving intraday

Flag only one of the following:

• BREAKOUT: flag to scan the market for basic breakout setups. (flag this when ADVBREAKOUT does not provide enough results)
• ADVBREAKOUT: default flag to scan the market for the most advanced breakout setups

Results

• RNG: the ratio between last day range and ADR (Average Daily Range); the lower this is (i.e. < 0.65, the more compression and breakout we can expect)
• INS: this refers to Inside days developed till the last session, included. It ranges from 0 to 3, with 1 indicating one inside day (good breakout opportunity), 2 indicating a double inside day pattern (higher It It ranges from 0 to 3, with 1 indicating one inside day (increased likelihood of breakout), 2 indicating a double inside day pattern (even more likelihood of breakout) and 3 indicating a triple inside day pattern (very rare, explosive breakout opportunity).
  Independently from the “INS” result, the criteria for the ADVBREAKOUT are already optimized for the best breakout setups.

Who can use it?

• Day Traders: Identify daily  breakout setups opportunities
• Scalpers: Focus on instruments with immediate breakout potential
• Swing Traders: Spot multi-day compression zones ready to expand, hold on intraday trades for multiple days
• Market Analysts: Gain insights into price behavior and volatility phases

Reference

The methodology behind the Pro Daily Breakout Screener is inspired by established principles of volatility-based analysis, including insights from Frank Ochoa’s teachings.

This screener has been independently developed and optimized for ProRealTime to provide traders with an efficient and reliable tool for daily breakout forecasting.