StockFetcher Forums · Filter Exchange · [Help] _ In need of algorithm(s):<< >>Post Follow-up
mika
131 posts
msg #31799
Ignore mika
4/19/2004 2:08:08 PM

I'd like SF to scan for stocks based on these Fibonacci price ratio pattern criteria:

http://www.harmonictrader.com/price_patternsbfly.htm
http://www.harmonictrader.com/price_patterns.htm


Anyone have an idea as to how to approach this?


travlr
80 posts
msg #31807
Ignore travlr
4/20/2004 11:25:26 AM

Hey Mika,

Those are classic "M" & "W" patterns with common fibonacci ratio retracements / extentions applied.

John Bollinger wrote alot on M & W Patterns in "Bollinger on Bollinger Bands" (recommended reading,IMO).

Your question can be a fairly easy construction, if you think about it. IMO.

Enjoy! ... travlr


travlr
80 posts
msg #31808
Ignore travlr
4/20/2004 11:39:24 AM

P.S.

Mika you should consider constucting retracement zones, rather than exact Fib #'s. Better for scanning.

travlr


mika
131 posts
msg #31810
Ignore mika
4/20/2004 6:32:04 PM

hi travlr,

thanks for the reply.

i do have the fib retracement zones set up. my chart is set to a 4 month period, so more often then not i would miss the full pattern. what i really want to do is have SF recognize the patterns (draw them) or have a filter set up to catch potential candidates.

maybe you can still help me:
if you look at the link i provided (http://www.harmonictrader.com/price_patterns.htm) they give the fib ratios of x->a, x->b, and x->d, but not x->c. i was never good at trigonometry (or any kind of math for that matter), so if "we" :) could figure the ratio of x->c in the diff patterns that'd be of real help.


mika.


travlr
80 posts
msg #31811
Ignore travlr
4/20/2004 11:54:00 PM

Mika,
First of all, what their calling the "bullish butterfly pattern" SHOULD be the pattern considered bearish because it is usually a topping pattern. Described by Bollinger as an "M" pattern. And vice versa for the "W" pattern, usually a very good bottoming pattern.

Refering to the "W' pattern:
For the sake of this example, we're gonna say that: A = $5.00 and X = $10.00. Therefore….

Price A to price X has a fib value of 1.00 where A= 0.00 and X =1.00.

Price B has fib retracement value 0.786 so…
X-A = $5.00
5.00 * 0.786 = $3.93
B = $5 + $3.93 = 8.93

Price C has a fib retracement value between 0.382~0.886 so…
B-A = $3.93
$3.93 * 0.866 = $3.40
C = 8.93 – 3.40 = $5.53

Aggressive buy above $8.93 (B).
Conservative buy above $10.00 (X).

This guy is trying to throw around this and that, to confuse others enough to buy his book.

I think you might be better off reading Bollinger's book.. I found it at NetLibrary with access though my local library card. Check your library if they offer this feature or inter library exchange (access to hard copy books from library's all over) if they don't already have the worthwhile trading book that your looking for. Then those that strike a chord to you, buy and stick on your shelf.

BTW… I don't like that show's an "M" pattern as bullish, vice-versa. And I don't care for the 2nd leg 0.786 retracement level as the norm. IMO. Bollinger shows a couple of pages of different types of these two patterns.

IMO. Read all you can ( that's worth while).

Happy Hunting,

travlr



travlr
80 posts
msg #31812
Ignore travlr
4/21/2004 12:02:14 AM

I like when these forums provide edit features...

scratch... Price A to price X has a fib value of 1.00 where A= 0.00 and X =1.00.

and replace with... Price A to price X has a fib value of 1.00 where A= 1.00 and X = 0.00


travlr
80 posts
msg #31825
Ignore travlr
4/21/2004 5:55:26 PM

Oops,
I had it right the first time. forget the last post. A little tired last night.


mika
131 posts
msg #31830
Ignore mika
4/21/2004 9:01:42 PM

:)


Still scratching me head.. :)
I'll figure it out. Sooner or later. :P

Thanks for all your help buddy.


mika.


mika
131 posts
msg #31955
Ignore mika
5/2/2004 7:28:07 PM

hmmm,..
I tink me see a bullish gartley in here: LNUX. what you tink willis?! :P

:)


mika.


StockFetcher Forums · Filter Exchange · [Help] _ In need of algorithm(s):<< >>Post Follow-up

*** Disclaimer *** StockFetcher.com does not endorse or suggest any of the securities which are returned in any of the searches or filters. They are provided purely for informational and research purposes. StockFetcher.com does not recommend particular securities. StockFetcher.com, Vestyl Software, L.L.C. and involved content providers shall not be liable for any errors or delays in the content, or for any actions taken based on the content.


Copyright 2016 - Vestyl Software L.L.C.Terms of Service | License | Questions or comments? Contact Us
EOD Data sources: DDFPlus & CSI Data Quotes delayed during active market hours. Delay times are at least 15 mins for NASDAQ, 20 mins for NYSE and Amex. Delayed intraday data provided by DDFPlus