StockFetcher Forums · Filter Exchange · Hanging Man Candlestick at a lower Regression Line<< >>Post Follow-up
Systrader
56 posts
msg #55578
Ignore Systrader
10/8/2007 12:57:27 PM

I created a filter based on other postings in SF and not getting the desired result.
The idea is to find stocks that has a hanging man candlesitck with a long tail such that a reversion is expect and bounce off the lower regression line.
I get results that do not satisfy the lower regression line being crossed

Here is the filter and sugestions for improvements and correct behavior welcome:

SF[
/* Filter for a Hanging Man Candlestick Pattern that crosses lower regression line */
set{body_bottom,min(open,close)}
set{body_top,max(open,close)}
set{lshadowsize, body_bottom - low}
set{tshadowsize, high - body_top}
set{body_size, body_top - body_bottom}
set{body_size2, body_size * 2}
set{longtail, body_size*2.5}

Show stocks where lshadowsize > longtail
and low crossed below linear regression(100)
and Average Volume(90) is above 50000
and close is between 5 and 250
]

dccolt
19 posts
msg #55591
Ignore dccolt
modified
10/8/2007 11:41:45 PM

Here is one for the traditional hanging man after an uptrend -

Fetcher[
/* Hanging Man Candlestick Pattern that crosses lower regression line */

set{body_bottom,min(open,close)}
set{body_top,max(open,close)}
set{wicksize, high - close}
set{tailsize, open - low}
set{body_size, close - open}

set{body_size2, body_size * 2}

/* Uptrend before Hanging Man */

Close is above the open
and open is above the close 1 day ago
and close 1 day ago is above the open 1 day ago

/* Hanging Man */

and wicksize equals 0
and tailsize > body_size2

/* Additional Criteria */

and low crossed below linear regression(100)
and Average Volume(90) is above 50000
and close is between 5 and 250

add linear regression(100)
]



and here is another for a downtrend -

Fetcher[/* Hanging Man Candlestick Pattern that crosses lower regression line */

set{body_bottom,min(open,close)}
set{body_top,max(open,close)}
set{wicksize, high - close}
set{tailsize, open - low}
set{body_size, close - open}

set{body_size2, body_size * 2}

/* Uptrend before Hanging Man */

Close is above the open
and close 1 day ago is above close
and open 1 day ago is above open

/* Hanging Man */

and wicksize equals 0
and tailsize > body_size2

/* Additional Criteria */

and low crossed below linear regression(100)
and Average Volume(90) is above 50000
and close is between 5 and 250

add linear regression(100)
]



AdamW328
84 posts
msg #55603
Ignore AdamW328
10/9/2007 1:30:35 PM

These filters are for going short - right?

dccolt
19 posts
msg #55605
Ignore dccolt
modified
10/9/2007 1:52:41 PM

Not necessarily a short signal... the way I understand the hanging man signal, as well as most candle indicators, is the indication that a change in trend may be about to occur. According to Steve Nison's book on candlesticks, a hanging man signal is most noteworthy when it comes at the top of a long uptrend, indicating the trend may be reversing.

I recommend "The Candlestick Course" by Nison for more about candlesticks.

Systrader
56 posts
msg #55612
Ignore Systrader
10/9/2007 8:36:00 PM

Thanks for the follow up ..but I think you missed the issue I have.

It is to do with which regression line of the 3 drawn on the chart that the candle crosses. I want it to cross the lower line.
Pick any stock that is comes through the filter and you will see what I mean on the chart.
I need to see the candle tail crossing below the lower regression line ..most of the time I am seeing the candle crossing the center regression line.
So what is wrong with statement for the linear regression line(100) .

Thanks



StockFetcher Forums · Filter Exchange · Hanging Man Candlestick at a lower Regression Line<< >>Post Follow-up

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