StockFetcher Forums · Filter Exchange · High Tight Flags<< 1 2 >>Post Follow-up
pkm22
6 posts
msg #40358
Ignore pkm22
1/17/2006 8:31:54 AM

Does anyone know how to write a filter to find high tight flags?
I am assuming a 100% price increase within 2 months, consolidation in the area of the price high, and a flag of no longer than 3 weeks. Any help is appreciated.


nikoschopen
2,824 posts
msg #40364
Ignore nikoschopen
1/17/2006 4:06:01 PM

This filter will screen for stocks that trade within a tight range as well as within the top 90% of its 3 month range (2 and 3/4 months to be exact, according to your premise). Hence it's not technically a "flag" pattern (I'll save that for another day).

A bit of difficulty encountered with this filter, largely because of nesting problem. To find stocks that advanced at least 200% over the period of 2 months was easy, yet to confine the search with the premise of "rangebound for the last 15 day within the 10% from the top" was challenging. (Again, see below for further note)

Fetcher[
set{3mo, close 65 days ago}
set{3wk, high 50 day high 15 days ago}
set{adv, 3wk / 3mo}
set{%adv, adv * 100}
%adv above 199

set{diff, 3wk - 3mo}
set{pos90, diff * 0.9}
set{3wk90, pos90 + 3mo}

count(weekly high below 3wk,3) equals 3
count(weekly low above 3wk90,3) equals 3

price above 1

add column 3mo
add column 3wk
add column %adv
add column 3wk90
]




<<<The problem encountered due to nesting>>>

set{3mo, close 65 days ago}
set{3wk, high 50 day high 15 days ago}
set{adv, 3wk / 3mo}
set{%adv, adv * 100}
%adv above 199
set{diff, 3wk - 3mo}
set{pos90, diff * 0.9}
set{3wk90, pos90 + 3mo}
set{cl, count(close between 3wk90 and 3wk,15)} <-- SF would not accept this param
cl above 10

price above 1

add column 3mo
add column 3wk
add column %adv



pkm22
6 posts
msg #40366
Ignore pkm22
1/17/2006 4:51:51 PM

Thanks for the help. I also tried to write the filter. Here is what I came up with

set{x, high 2 month high / low 2 month low}
set{x1, high 2 month high}
set{y, high 2 month high * 0.8}
set{z, count(high reached a new 2 month high, 15)}
show stock where x is greater than 2
and close is greater than y
and price is greater than 2
and 10 day slope of close is less than 0
and 60 day slope of close is greater than 0
and z is equal to 0
chart-time is 6 months
draw Top Linear Regression Line(15,1)
draw Bottom Linear Regression Line(15,1)



nikoschopen
2,824 posts
msg #40367
Ignore nikoschopen
1/17/2006 5:32:36 PM

pkm22,

considering just these lines alone...

set{x, high 2 month high / low 2 month low}
show stock where x is greater than 2

will screen for stocks that made 200% advance within the last 2 months, starting from today rather than from 3 weeks ago.

You left the following 3 lines somewhat dangling without putting them to use...

set{x1, high 2 month high}
set{y, high 2 month high * 0.8}
set{z, count(high reached a new 2 month high, 15)}

These are mere conditional statements, like "if". You need to provide the "then" part.

Variables x, y, z needs to be given a life on their own before you can use them...

show stock where x is greater than 2
and close is greater than y
and price is greater than 2
and 10 day slope of close is less than 0
and 60 day slope of close is greater than 0
and z is equal to 0

For instance
set{x, close}
set{y, open}
set{z, MA(50)}
x is above y and y is above z

Best regards.


nikoschopen
2,824 posts
msg #40368
Ignore nikoschopen
1/17/2006 5:36:17 PM

Oops...

I retract the x, y, z identity omission (slap, slap, me bad).


yepher
353 posts
msg #40371
Ignore yepher
1/17/2006 6:17:49 PM

Hmmm....

Could you do something like this?

Fetcher[
show pattern is symmetric triangle(45)
and close is 20% above close 100 days ago
and volume above 1000000
and close above 1
]



I know you asked for 100% above some time ago but it did not return any results so I changed it to 20%. Also this one has a 45 day period. You can play with period and window to get close to what you asked for.

-- Yepher




yepher
353 posts
msg #40372
Ignore yepher
1/17/2006 6:18:54 PM

Here if a reference page if anyone is interested:

http://www.stockcharts.com/education/ChartAnalysis/flagPennant.html

-- Yepher


nikoschopen
2,824 posts
msg #40376
Ignore nikoschopen
1/17/2006 7:17:37 PM

Yepher, you're right in that the filter I wrote returned a flimsy number of stocks, if any. Even for those that registered on the radar, when you take out the ones that have a huge gap you essentially have none. Even with the aid of date offset going back 50 days, not much turned up. So I suggest you change the parameters to be more accomodative.

On a side note, I'm not too sure about the "symmetric triangle" phrase offered by
SF. I have used it in the past, and was none too pleased.


rtucker
318 posts
msg #40440
Ignore rtucker
1/19/2006 4:23:16 AM

This is an old filter from Mika that seems to catch an occassional high tight flag. The filter sucks but its all in how you trade em.

Fetcher[price gained 20% in the last 3 weeks and macd(2,7,4) fast line crossed above 0 and price between .3 and 3 and avg vol(90) > 90000]






pkm22
6 posts
msg #40458
Ignore pkm22
1/19/2006 12:04:37 PM

nikoschopen,

Thanks for all the help. Just to clarify if the 2 month high / 2month low is equal to 2 , that is a 100% increase, not 200% as you stated. Other than that thanks for the input, I'll try to put it to good use. I'm still learning how to phrase things in SF with the correct syntax.


StockFetcher Forums · Filter Exchange · High Tight Flags<< 1 2 >>Post Follow-up

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