StockBee Bullish Momentum Burst & 20% Plus Study Tool
The Stockbee bullish momentum burst study tool is helpful for practitioners of the momentum burst method who want to easily find historical momentum bursts and/or 20% plus gainers using Trading View. This script finds three specific breakouts that meet the below criteria:
4% Breakouts (Colors Candle Body) 1. Volume of the candle is greater than the previous candle volume. 2. The percent change of candle's price is greater than 4% from the previous candle close. 3. Current candle close is less than 30% from candle's high. **Users can toggle 4% Breakouts on/off and also change candle body color in settings**
Dollar Breakouts (Colors Candle Body) 1. The change of candle's price is greater than $0.90 from the previous candle close. 2. Current candle close is less than 30% from candle's high. ** Dollar Breakout does not take volume into consideration ** **Users can toggle Dollar Breakouts on/off and also change candle body color in settings**
20% Plus Gainers (Displays Yellow Triangle Icon) 1. The change over five candles is greater than 20%. **Users can toggle 20% plus label on/off, cannot change the label color**
This script also filters out any candle that gaps up and breaks down with a close above 4% the previous candle (Eliminates gap-ups that fade). This tool is meant to find and filter possible candidates. Not every marked candle is a great momentum burst trade. Users can look at 4% Breakouts, Dollar Breakouts, 20% Plus Gainers individually or any combination of the three.
This is helpful for Trading View users trading this specific setup.