StockFetcher Forums · Filter Exchange · Hikkake Pattern<< >>Post Follow-up
srinisu
22 posts
msg #83030
Ignore srinisu
11/13/2009 6:32:27 PM

Read an interesting article on the Hikkake pattern. Those interested can read it here.
http://www.chesler.us/resources/articles/chesler0404.pdf

Seems rather easy to code, yet I'm struggling with it.

1) Hikkake Reversal or Continuation Pattern.
a) Find an inside day (lower low and lower high than previous day)
b1) Bearish setup: The following day, a breakout from an inside day (higher higher and a higher low)
b2) Bullish setup: The following day, a breakdown from an inside day (lower high and a lower low)

Verification of the contratrend move is confirmed WITHIN 3 days of the breakout.
c1) Bearish setup: A close below the inside day low
c2) Bullish setup: A close above the high of the inside day high

That's it. Reading the article will make things clearer.

2) Hikkake Trend Reversal Pattern
a) Find an inside day (lower low and lower high than previous day)
b1) Bearish setup: Day prior to the inside day must close at the top of its day range and its range must be less than its previous day's range.
b2) Bullish setup: Day prior to the outside day must close near the bottom of its day range and its range must be less than its previous day's range.

Thanks in advance to the ultimate coders. Hope you find some use for these indicators. The simplest of indicators are often the best!




chetron
2,817 posts
msg #83035
Ignore chetron
modified
11/13/2009 8:08:39 PM

HOW ABOUT....

Fetcher[

/* SIMPLE HIKKAKE */

SET{VAR1,HIGH 1 DAY AGO}
SET{VAR2,LOW 1 DAY AGO}
SET{VAR3,COUNT(VAR1 ABOVE HIGH,1)}
SET{VAR4,COUNT(VAR2 BELOW LOW,1)}
SET{VAR5,VAR3 * VAR4}
SET{VAR6,VAR5 1 DAY AGO}

SET{VBUY,VAR3 * VAR6}
SET{VSHORT,VAR4 * VAR6}
SET{VPICKS,VBUY + VSHORT}
SET{VAR7,VAR1 + .01}
SET{VAR8,VAR2 - .01}

ADD COLUMN VAR7 {BUY LIMIT}
ADD COLUMN VAR8 {SHORT LIMIT}

DRAW VSHORT
DRAW VBUY
VPICKS ABOVE .5
DO NOT DRAW VPICKS

CLOSE ABOVE .1
VOLUME ABOVE 10000000



]



WITH ADX....

Fetcher[


/* SIMPLE HIKKAKE */

SET{VAR1,HIGH 1 DAY AGO}
SET{VAR2,LOW 1 DAY AGO}
SET{VAR3,COUNT(VAR1 ABOVE HIGH,1)}
SET{VAR4,COUNT(VAR2 BELOW LOW,1)}
SET{VAR5,VAR3 * VAR4}
SET{VAR6A,VAR5 1 DAY AGO}
SET{VAR6B,COUNT(ADX ABOVE 40,1)}
SET{VAR6,VAR6A * VAR6B}

SET{VBUY,VAR3 * VAR6}
SET{VSHORT,VAR4 * VAR6}
SET{VPICKS,VBUY + VSHORT}
SET{VAR7,VAR1 + .01}
SET{VAR8,VAR2 - .01}

ADD COLUMN VAR7 {BUY LIMIT}
ADD COLUMN VAR8 {SHORT LIMIT}

DRAW VSHORT
DRAW VBUY
VPICKS ABOVE .5
DO NOT DRAW VPICKS

CLOSE ABOVE .1
VOLUME ABOVE 1000000



]



srinisu
22 posts
msg #83058
Ignore srinisu
11/14/2009 12:08:40 PM

Chetron, I have to give it to you. You write code like loaded brush looking for a fresh canvas! Thank you!

chetron
2,817 posts
msg #83059
Ignore chetron
11/14/2009 12:20:46 PM

YOU ARE VERY WELCOME

watzdorf
21 posts
msg #83171
Ignore watzdorf
11/17/2009 5:40:39 AM

It seems one day too late this filter. Is there a way to have the actual results?

chetron
2,817 posts
msg #83172
Ignore chetron
11/17/2009 6:37:44 AM

@watzdorf

if by late you mean you just want inside days then use Range Contraction/Expansion Filter, otherwise what?

watzdorf
21 posts
msg #83174
Ignore watzdorf
11/17/2009 6:59:27 AM

The results I am getting are the inside day plus 2 days (bars), instead of only 1 day. However, that's how I understood the system by reading the pdf.

watzdorf
21 posts
msg #83176
Ignore watzdorf
modified
11/17/2009 7:28:12 AM

Sorry I misunderstood one part. The filter is as intended :)

duke56468
683 posts
msg #83185
Ignore duke56468
11/17/2009 1:49:50 PM

Srinisu,
Thank you for bringing this to our attention, and Chetron thanks for the filter work. Much appreciated. Do they suggest an entry point slightly above (below) the inside day? Also in the b2 example is the "outside" day the day prior to the inside day?

chetron
2,817 posts
msg #83187
Ignore chetron
11/17/2009 2:35:34 PM

NO, AN OUTSIDE BAR IS WHAT MAKES AN INSIDE BAR

StockFetcher Forums · Filter Exchange · Hikkake Pattern<< >>Post Follow-up

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