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Base Finder
Updated
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
High Tight Flag
Consolidation:
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.
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.
Release Notes
Fixed a typo in the settings menuRelease Notes
Small change to the way Accumulation and Distribution week counter resetsRelease Notes
Fixed a typoRelease Notes
New Features✅ Show & alert breakouts
✅ Alerts for new bases
✅ Adjustable prior uptrend minimums
Release Notes
Fixed a small bug removing bases prematurely Release Notes
Fixed a small typo in the alert dialogue Release Notes
Fixed a bug making some High Tight Flag Poles longer than 8 weeksRelease Notes
Added agility to see cups and customizable profit / stop zones. Release Notes
Fixed a small bug in the latest releaseRelease Notes
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.
Release Notes
small fixRelease Notes
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.
Release Notes
Fixed the average volume length on the daily time frame. Release Notes
Added the starting date of the base to the Base Health TableRelease Notes
Fixed a small bug when the breakout occurs at the same time as the maximum base length setting is reached. Release Notes
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.
Release Notes
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
*Ants are only displayed on a daily timeframe
Release Notes
Update to Cup With Handle on daily time frame. Release Notes
Update has a setting to allow the base info labels to always be visible. Default setting is only visible when hovering over the high of the first bar of the base. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.