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Filtering Out Choppiness

Sunday, September 30, 2012 21:53
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I have been trying to figure out a way to filter out stocks that are choppy vs stocks that arent. The best way to describe this is by an example.

I want to be able to see stocks that are trading like this:

http://i.imgur.com/D1cOu.jpg

versus more choppy stocks like this:

http://i.imgur.com/vgQNN.jpg

These are cvlt on 9/27 and chk on 9/28 on the 5 minute time frame. Both of these stocks formed inside bars on the 15 minute chart, but obviously one stocks looks better than the other. Is there a volatility indicator/PCF or something else anyone can think of to filter out these types of choppy charts on the 5 minute time frame?

I tried filtering using adx but it doesnt seem to help. I have use a shorter time frame to filter out the choppiness but seems to filter out a lot of winners too. Any advise would be appreciated.



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