The Base Finder is a powerful tool to identify consolidation periods in a stock's advance. With this indicator, traders can effortlessly spot consolidation patterns on their charts providing them with a deeper understanding of the stock's price action.
Base Finder goes beyond identifying consolidation patterns, as it also offers key information about the consolidation such as the depth, length, pivot point, and the number of accumulation or distribution weeks throughout the pattern. This information allows traders to compare and analyze the best basing patterns quickly and easily.
With Base Finder, traders can differentiate between a Flat Base, a High Tight Flag, or a consolidation, like a cup with handle or double bottom base.
This tool helps traders of all levels train their eye to identify potential trading opportunities that might have otherwise gone unnoticed.
Base Finder is a must-have tool for any trader, especially those that have studied the work of William O’Neil. Base Finder stacks up base for base with MarketSmith.
Easily customize the settings, from the look to the intricacies of a consolidation.
Default base and accumulation/distribution settings:
Flat Base
length: 5 weeks minimum
depth: <= 15%
High Tight Flag
Flag Pole: up 80% or more in less than 8 weeks
Flag: Less than 25% correction in 2-4 weeks
Consolidation:
length: minimum 6 weeks
depth: <= 35%
Accumulation Week: Current candle closes lower, but in the upper half of the weekly closing range on above average volume. OR Current candle closes positive in the upper 40% of the weekly closing range on above average volume.
Distribution Week: Current candle closes positive, but in the lower quartile of the weekly closing range on above average volume. OR Current candle closes down on the week in the lower half of the weekly closing range on above average volume.
Notes This indicator is meant to be used on the weekly timeframe.
In order to see the stats labels hover your mouse over the left side high of the consolidation and please make sure the indicator is brought to the front using the visual order of your chart. If the visual order is not correct you will not be able to see the stats label.
Disclaimer: This indicator is for informational and educational purposes only. Do your own research before making any trade decisions. We accept no liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on this indicator.
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Fixed a typo in the settings menu
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Small change to the way Accumulation and Distribution week counter resets
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Fixed a typo
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New Features ✅ Show & alert breakouts ✅ Alerts for new bases ✅ Adjustable prior uptrend minimums
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Fixed a small bug removing bases prematurely
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Fixed a small typo in the alert dialogue
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Fixed a bug making some High Tight Flag Poles longer than 8 weeks
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Added agility to see cups and customizable profit / stop zones.
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Fixed a small bug in the latest release
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With this latest update, Base Finder is raising the bar, taking pattern recognition to another level.
The new version Base Finder not only finds consolidations, but also now has the ability to show the following:
Cup with Handles
Base Stages
Heavy Volume Without Further Price Progress
3 Weeks Tight
Base Flaws
Profit Target Reached / 8 Week Hold Rule Flag
Sell Signals
Base Health Table
Flaws include living below the 10 week moving average and wedging handles. Sell signals include Railroad Tracks, Climax Tops, 2 Weeks Down 2 Weeks Up and Bad Break of 10 Week.
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small fix
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Update includes multi timeframe support and double bottom bases.
Base Finder and Base Finder Daily have been merged, combining both daily and weekly time frame capabilities.
Double bottom bases are also now recognized.
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Fixed the average volume length on the daily time frame.
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Added the starting date of the base to the Base Health Table
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Fixed a small bug when the breakout occurs at the same time as the maximum base length setting is reached.
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Added ability to recognize short stroke add on patterns on the weekly time frame.
A short stroke forms over just two weeks
The first week is marked by a very sharp advance, 10% or greater, followed by a tight range in the second week. Volume should be lower in the second week than in the first, and the stock typically doesn't eclipse the first week's high.
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Base Finder now identifies Ants. Ants can be toggled on or off in the settings menu.
Ants are based on David Ryan's study of what made some stocks to superior moves higher from their bases, while others only made modest gains.
David identified 3 key characteristics:
The stock was up 12 or more of the past 15 days
Volume was up 20% or more over the past 15 days
Price was up at least 20% over the past 15 days
Ants are displayed on the chart as small boxes over the high of candles. By hovering over the most recent "ant", you can view a data label displaying the following details:
How many days of the last 15 days were up
The price gain of the last 15 days
The % volume was above average for the last 15 days