The Base Finder Daily is the companion tool to the original Base Finder which is used to identify consolidation periods in a stock's advance. The Base Finder Daily allows traders to zoom in from the weekly chart and get a more precise view of the daily price action during a basing period.
Base Finder Daily identifies three different types of bases (Flat Base, High Tight Flag, Consolidation) and provides key information about the consolidation such as the depth, length, and pivot point. This information allows traders to compare and analyze the best basing patterns quickly and easily.
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 settings:
Flat Base length: 25 days minimum depth: <= 15%
High Tight Flag Flag Pole: up 80% or more in less than 40 days Flag: Less than 25% correction in 10-20 days
Consolidation: length: minimum 30 days depth: <= 35%
Notes This indicator is meant to be used on the daily 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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New Features ✅ Show & alert breakouts ✅ Alerts for new bases ✅ Adjustable prior uptrend minimums
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Fixed a typo in the alert dialogue
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Small update to remove flat base lines that exceed certain duration
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Fixed a bug making High Tight Flag poles longer than 40 days
@jeewangarg, thanks. Looks like that is 22 days into the flag. I looked at my code and I put the maximum length as 25 days for a high tight flag so that is why.