Price Persistence Screener

Price Persistence Screener

Pine Script v6 | Inspired by @pradeepbonde on X

This indicator, inspired by the insights of @pradeepbonde , is designed to identify stocks with high price persistence—stocks that consistently close higher than the previous day's close over various lookback periods. As described by Pradeep Bonde, stocks with high persistence are strong candidates for trading pullbacks or consolidations, as they often resume their upward trend due to aggressive buying and low selling pressure. This tool helps traders screen for such stocks and visualize their persistence across multiple timeframes.

Features:

Measures price persistence by counting bars where the closing price exceeds the previous bar’s close for fixed periods: 499, 252, 126, 60, 40, 20, 15, 10, and 5 bars.

Includes a customizable lookback period (1 to 499 bars) for flexible analysis.

Allows users to set a custom persistence threshold (0% to 100%) to highlight strong bullish trends.


How It Works:

For each lookback period, the indicator calculates how many times the closing price is higher than the previous bar’s close.

A higher count indicates stronger bullish persistence, signaling stocks with sustained upward momentum.

Usage:

This screener is aimed to be used on pine screener to see data in columns. Add this indicator to you favorites and in pine screener scan on your watchlist of up to 1000 stocks


Adjust the custom lookback period and threshold via input settings.

Sort columns to compare persistence across timeframes and identify stocks with high persistence for swing trading or long-term holding.

Settings:

Custom Lookback Period (Bars): Set the number of bars for the custom persistence calculation (default: 100).

Custom Persistence Threshold (%): Define the percentage threshold for highlighting high persistence in the custom period (default: 70%).

Credits:
This indicator is based on the price persistence concept shared by @pradeepbonde
in his YouTube video (youtube.com/watch?v=vMr2ranjBuE). He explains that stocks with high persistence—those consistently closing higher day after day—are strong candidates for trading pullbacks, as they tend to resume their upward trend. This screener automates and visualizes that concept, making it easier for traders to identify such stocks.

Note:
Ensure sufficient historical data is available for accurate calculations, especially for longer periods like 499 bars. if stock is less than 499 bars.

High persistence stocks may eventually lose momentum, signaling potential reversals or shorting opportunities, as noted by @pradeepbonde
.
Use this indicator as part of a broader trading strategy to screen strong trends with custom lookback scan, combining it with other technical or fundamental analysis.