StockFetcher Forums · Filter Exchange · How to find a black hammer with no upper wick?<< >>Post Follow-up
rntrader7
10 posts
msg #33526
Ignore rntrader7
10/8/2004 6:58:34 AM

TIA.


xplorer
257 posts
msg #33530
Ignore xplorer
10/8/2004 8:58:45 PM

So... you want the OPEN to equal the High (no wick),

and you are looking for OPEN is greatrer than CLOSE (black body},

and a "handle" to classify this as a hammer ?.. Close is above Low ... not sure how long this would need to be ... but that could easily be set up ...

Fetcher[set{wick,high-open}
set{dayrange,high-low}
set{percentagewick,wick/dayrange}
close is above the low and
close is less than open and
percentagewick is less than .001
]



What is it you are looking for with this criteria ?...
Are you looking for stocks that have topped ? Linear regression may help in identifying the trend first, then this "Candle stick" to flag a possible turn.

Well ... that should start you in the right direction...


xplorer
257 posts
msg #33531
Ignore xplorer
10/8/2004 9:04:22 PM

... I threw in a "handle" ...

Fetcher[set{wick,high-open}
set{dayrange,high-low}
set{percentagewick,wick/dayrange}
set{handle,close-low}
set{body,open-close}
close is less than open and
handle is greater than body and
percentagewick is less than .001
]




rntrader7
10 posts
msg #33534
Ignore rntrader7
10/9/2004 12:24:22 PM

xplorer, Thanks for the quick response. This helps to narrow down the filter I'm trying to create. I think it will be very effective in predicting breakouts. First, look at Friday's candle for BUCA. This is the relative size that I'm looking for. I've noticed over the last couple of years a recurring pattern that really stands out. First the stock must be recovering from a long downtrend. After consolidation the stock approaches the first level of resistance very gradually in a consistent uptrend pattern. In the best breakouts, the trading range decreases almost daily as the first level of nearby resistance is approached. Finally this type of candle appears, usually the day before or sometimes 2-3 days before the breakout. The small candle in mid August for MBAH is close to the pattern I'm referring to, but not exactly. I'll have to look up some charts that fit the exact description and post them later. This gives me somewhere to begin, but since I'm new (again) to StockFetcher, I would appreciate any help in getting started with this filter. I noticed lots of red candles in the filters you supplied. Is there any way to eliminate them? Thanks again for your help.


xplorer
257 posts
msg #33536
Ignore xplorer
10/9/2004 8:25:39 PM

I'll take a look at those charts you referenced ....

As far as the color of the candle, Stock fetcher use the white, the black and the red candles ... perhaps you could bring clarity as to these three differnt candles.

I have always viewed the white candle iis basically on that closed higher then the open ... and a red candle (here within SF charts) being on that close lower then the open ... and then there is the black candle ..which is ??? can you shed some light on this (no pun inteded)...


xplorer
257 posts
msg #33537
Ignore xplorer
10/9/2004 8:31:08 PM

I found the answer to my question in a previous post ..and I quote :

dknight 2/2/2004 10:36:29 AM

White/empty: close above open; close above close 1 day ago
Red: close below open; close below close 1 day ago
Black: close below open; close above close 1 day ago


xplorer
257 posts
msg #33538
Ignore xplorer
10/9/2004 8:36:17 PM

Given that definition of the red candles ... this will purge them from the results:


Fetcher[set{wick,high-open}
set{dayrange,high-low}
set{percentagewick,wick/dayrange}
set{handle,close-low}
set{body,open-close}
close is less than open and
handle is greater than body and
percentagewick is less than .001
and close is above close 1 day ago
]




xplorer
257 posts
msg #33539
Ignore xplorer
10/9/2004 9:01:50 PM

OK ... I looked at the charts ... I don't really see what you are looking for ... but I did throw in the bottom of the stochastic cycle... which identifies the OVERSOLD condition ... I also threw in the sectors, just as a little extra diligence ... let me know if you make any changes/further enhancements.... It is looking like a decent filter !

Fetcher[set{wick,high-open}
set{dayrange,high-low}
set{percentagewick,wick/dayrange}
set{handle,close-low}
set{body,open-close}
close is less than open
and handle is greater than body
and percentagewick is less than .001
and close is above close 1 day ago
and Slow Stochastic(5,3) Fast %K is below 20
and add column sector description
and sort column 5 descending
]




yepher
353 posts
msg #33632
Ignore yepher
10/22/2004 11:11:00 PM

Although Xplorer has done a good job answering the question I thought I would give my $.02.

Here is another way to approach the problem:

http://www.stockfetcher.com/stockdb/fetcher?p=candle&values=3,0.675,0.92,0.595,0.86,0.46,0.72499996,0.32500002,0.65000004,0.48499998,0.495,0.119999915,0.36&idin=1





StockFetcher Forums · Filter Exchange · How to find a black hammer with no upper wick?<< >>Post Follow-up

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