StockFetcher Forums · Filter Exchange · Inverted Hammer - Confirmed<< >>Post Follow-up
jaketheguy
52 posts
msg #38107
Ignore jaketheguy
9/20/2005 3:55:32 PM

The filter below meets the guidelines provided in this link:
http://www.litwick.com/indicators/1122.html
The filter also checks for the 'next day confirmation' according to the description in the link.

Fetcher[/* Inverted Hammer - Confirmed */
set{cA, count(high is more than 3% above open, 1) 1 day ago*count(close is less than 0.7% above low, 1)1 day ago}
set{cB, count(close is above open, 1)1 day ago*count(open is less than 1% below close, 1)1 day ago}
set{AND1, cA*cB}
set{AND1x, AND1* open is above close 1 day ago}


set{oA, count(high is more than 3% above close, 1)1 day ago*count(open is less than 0.7% above low, 1)1 day ago}
set{oB, count(open is above close, 1)1 day ago*count(close is less than 1% below open, 1)1 day ago}
set{AND2, oA*oB}
set{AND2x, AND2* open is above open 1 day ago}


set{OR1, AND1x+ AND2x}

show stocks where OR1 above 0
and open 1 day ago is below close 2 days ago
and open is above close 1 day ago
]



Cheers!


jaketheguy
52 posts
msg #38110
Ignore jaketheguy
9/20/2005 3:59:36 PM

Would anyone like to pick up the gauntlet and contribute to this thread, by adding the 'Inverted Hammer' to some other Muddy conditions (like consecutive down days, etc.), to try and come up with higher performance reliability, and post back their modified filter and findings to the thread? :-)

Whew! So many filters, and so little time. LOL!


rtucker
318 posts
msg #38126
Ignore rtucker
9/21/2005 7:16:16 PM

jaketheguy,

Dug up this method by "Mika" to calculate ratios. I always assumed it works like "close-low is 400% greater than open-close" etc.. but I may be wrong.

Fetcher[close minus low is more than 400 above open minus close and high minus close is less than 200 above open minus close]






nikoschopen
2,824 posts
msg #38139
Ignore nikoschopen
9/22/2005 2:45:49 PM

Might I add that, technically speaking, a Hammer should ideally be found at the "bottom" of the cycle to be effective as a revesal indication. According to Steve Nison, an Inverted Hammer, unlike a Shooting Star, shouldn't be taken seriously since the potential for a further drop outweighs the possibility of a reversal in a downtrend. (Hence the need for a confirmation).


StockFetcher Forums · Filter Exchange · Inverted Hammer - Confirmed<< >>Post Follow-up

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