Price breaking to a five-year high
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The filter checks whether the current close exceeds the highest close across the prior 1260 trading days — roughly 5 calendar years. There are no volume, indicator, or candle body filters. The signal is purely structural: price has cleared a level that stood as a ceiling for half a decade. The 1260-day window captures multiple market cycles, including corrections and recoveries, meaning a stock clearing this level has weathered multiple potential resistance tests over the years. The simplicity is intentional — the multi-year high itself is the filter.
Multi-year high breakouts are rare and significant. The mechanism is supply absorption: every buyer who paid prices between the prior high and the current price has been underwater until now, creating selling pressure. Once the 5-year high is cleared, that entire supply zone is resolved and there are no obvious overhead sellers from the historical distribution. This creates the potential for an air pocket above — price can move quickly with little technical resistance. Key failure modes: (1) the original 5-year high was set during a speculative period unrelated to the current business fundamentals — the breakout attracts sellers who remember that prior peak; (2) the breakout occurs without volume confirmation, suggesting limited participation; (3) a broad market correction begins immediately after the signal fires. Compare to New 52-Week High for a shorter-term structural breakout, and Near 52-Week High for stocks approaching but not clearing their annual resistance.
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This screener finds stocks closing above their 1260-day (approximately 5-year) high — a price level the stock has not reached in half a decade. A multi-year high breakout signals that all sellers who bought at any point in the past five years are now profitable or have exited, removing overhead supply. Breakout traders and long-term trend-followers use this as a signal for potential multi-month trend initiations. Who uses this: position traders and long-term swing traders who focus on structural supply-and-demand clears rather than short-term technical patterns. Failure mode: the 5-year high may have been set during a bubble period, and the current breakout is a retest of that regime that will fail; alternatively, the breakout occurs on low volume with no catalyst, making it vulnerable to reversal. Related screens: New 52-Week High and Near 52-Week High.
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