Doji handling
A doji resets the sequence.
A candle where close equals open is neither green nor red. The scanner never skips it to join groups.
Methodology
The daily double-breakout rule.
StockNoIdea studies completed price action with one repeatable chart process: confirmation, a point where the idea is no longer valid, and a historical reference for the next decision. It is educational research, not investment advice or a prediction.
1 / Why this breakout
Let the completed candles confirm the move twice.
Candles are a direct record of where price opened, travelled, and closed. Rather than react to a single fast move or keep modifying a chart to fit an idea, this screen waits for two completed green closes to clear their preceding pullback highs, then requires the second green group to make a higher high. The final candle is rejected when its upper wick is 66% or more of its body, because that shape shows intraday rejection into higher prices. These conditions describe the completed chart only; they do not predict what comes next.
Green 1 close above Red 1 highGreen 2 close above Red 2 high
Red 2 lowRed 1 low below Red 2 low
Red 1Green 1Red 2Green 2
2 / Why define a stop
Know where the idea has run out of room.
Many people focus only on the possible upside and forget to define what would show the setup is no longer behaving as expected. The lowest point in this four-part sequence is that reference. A move below it does not mean anyone has failed; it means the chart evidence behind this particular idea has changed. A defined exit point cannot remove risk, but it can help prevent one unexpected move from becoming a loss that overwhelms money you cannot afford to lose.
Current closeSequence lowRoom for the idea to workSL
3 / Why use a historical target
Aim for a known price area, not an unknown record high.
The screen does not assume price will keep rising into territory with no nearby history. It looks back for a previous price peak that stood above the current close and uses it as a reference area for study. That gives the chart a visible destination to compare with the distance down to the invalidation point. Only patterns where the historical upside reference is at least as large as that downside distance are kept. The daily list then uses a middle band of reward-to-risk values, excluding unusually low and unusually extreme comparisons.
Previous red highCurrent closeSequence lowNo nearby price historyTPSL
4 / Why liquidity matters
A chart pattern still needs enough trading activity.
A thinly traded stock can print a valid-looking pattern while having wide spreads, irregular candles, and little practical ability to enter or exit near a displayed price. Dollar volume, calculated from price times shares traded, is a more useful check than share volume alone. It does not predict an outcome, but it helps separate a visible chart pattern from a practically tradable one. This screen does not yet apply a fixed dollar-volume threshold; adding a 20-session average dollar-volume check before the final ranking is a planned quality improvement.
Final-candle check
Reject a long upper wick.
The newest green candle is excluded when its upper wick is 66% or more of its body. This records intraday rejection at higher prices, so the close is not treated as a clean completion.
Data timing
Completed days only.
The scanner uses completed daily OHLC candles in chronological order. An in-progress daily candle is never used.
Split safety
Keep every price on one basis.
The scanner excludes candidates with a split or reverse split inside its 252-day historical scan window.
Market data can be delayed, incomplete, or inaccurate. Past outcomes do not predict future performance. Nothing here is a recommendation to buy or sell any security.