StockFetcher Forums · Filter Exchange · Ascending triangle, retest of supply turned demand<< >>Post Follow-up
Venice
76 posts
msg #106747
Ignore Venice
modified
6/24/2012 1:05:36 PM

Hi folks,

I am having some trouble with the ascending triangle indicator to behave and scan for things... a little differently then what it was intended for.

Currently, I use the following scanner. I then simply scroll back through the days to find price that has previously broken out from the triangle, and has now come back to retest the supply turned demand area. I then simply look for a bullish candlestick to start placing orders. To be honest, it really is a laziness thing...

Fetcher[
show stocks where
close is above the upper ascending triangle
close 1 day ago is below the upper ascending triangle 1 day ago
and price > 1
and average volume(90) > 100000
]



But, here is what I really want in a sort of spaghetti code fashion... Most of you will know this simply as ascending triangle breakout && retest.

Find stocks whom have had
close > upper ascending triangle line within the last 10 days and
close 1 day before the breakout < upper ascending triangle line 1 day before the breakout

/* Retest the zone */
and price is below the upper ascending triangle within the last 10 days
/* bullish candle in triangle demand */
and close > open

Any thoughts or am i running into limitations of stockfetcher?
More than likely, my own limitations in the understanding of sf syntax.

Eman93
4,659 posts
msg #106772
Ignore Eman93
6/26/2012 12:15:57 AM

only thing I can tell you is go to stocktiger they trade breakouts and post them when they are close to breaking out. you can look at the watchlist.

the triangle thing in SF is very limited and you cant store price information....

Venice
76 posts
msg #106776
Ignore Venice
6/26/2012 7:38:26 AM

Hi Eman,

This is what I figured. For now, I will just manually page back through the results to find the pattern I am looking for post-breakout.

Venice
76 posts
msg #106889
Ignore Venice
modified
7/5/2012 12:44:26 PM

Cleaned it up a little bit... and added in a downward slope to make sure we are grabbing triangles coming off of a downtrend.

All we are looking for is price to come back to the minimum of the upper triangle resistance line. Using the stochastics might be a good tool for identifying the return of buyers.


Fetcher[
show stocks where
and average volume(90) > 100000

/* Breakout Happened */
close is above the upper ascending triangle
close 1 day ago is below the upper ascending triangle 1 day ago

/* Make sure the lower trend line has been holding... */
close has been above the lower ascending triangle for the last 10 days

/* Get rid of the turds */
market is not otcbb

/* Use for entry?? */
draw Fast Stochastic(7) Fast %K
draw Fast Stochastic(7) Slow %D

/* Coming off of a recent down trend */
30 day slope of close 20 days ago is < 0
sort by column 2
]

StockFetcher Forums · Filter Exchange · Ascending triangle, retest of supply turned demand<< >>Post Follow-up

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