StockFetcher Forums · Filter Exchange · Pullbacks<< 1 2 >>Post Follow-up
115 posts
msg #88851
Ignore tmaugham
2/28/2010 10:28:40 AM

i'm looking for a scan similar to RFR but counting the number to times a symbol has done a pullback and a recovery. Can anyone please help?


4,577 posts
msg #88856
Ignore Eman93
2/28/2010 2:01:38 PM

The more times it has bounced in the past, reduces the likley hood of it continuing... the first or second pull back are the best... just look at the spy chart.....

so what we want to find is a stock moving out of a long flatish base, has made a nice upward move and has made its first pull back... also called an ABC contiuation pattern.... I tried to build a screen for this but with limited sucess... a pull back to the 20ma is also a good point to watch for a bounce.

The ABC you want a fib retracement of 63% to 50% from the last major swing high.

4,577 posts
msg #88857
Ignore Eman93
2/28/2010 2:04:33 PM

Fetcher[/*EMANS ABC Pattern Display*/

close is above 1
volume > 500000
set{1h, high 100 day high}
set{ch, C / 1H}
set{dch, 1 - ch}
set{R%, dch * 100}
set{1L, low 360 day low}
set {AB, 1h - 1L}
set{C, low 20 day low}
set{AB038, AB * 0.38}
set{AB05, AB * 0.5}
set{T1, C + AB038}
set{T2, C + AB05}
set{T_3, C + AB}
set{up, C / close}
set{upd, 1 - up}
set{%up, upd * 100}
set{Cdays, count(low > C, 20)}

ch < .62
ch > .30

add column 1L {A}
add column 1h {B}

add column C
add column Cdays
add column AB
add column T1
add column T2
add column T_3

add column R% {retrace%}
add column %up {% from C}
add column CMO(5)
add column ind
sort column 14 ascending

close < T1

draw Fibonacci Up(300,40)

4,577 posts
msg #88859
Ignore Eman93
2/28/2010 2:10:46 PM

NTRI is right at the 200ma and has a pretty consistant pull back... should be a watch.

314 posts
msg #88864
Ignore moby
2/28/2010 5:37:41 PM

Eman: wow, that is a sweet fibo scan, props to you dude :)

4,577 posts
msg #88875
Ignore Eman93
2/28/2010 7:48:56 PM

Thanks Moby... you gotta pick and chose... I cant figure out a way to get rid of the down trenders, from the ones that are just pulling back.

1 posts
msg #88914
Ignore athenasolutionz
3/1/2010 11:12:34 AM

Another approach for finding pullbacks is to check with Dr. Elder's ForceIndex.
When 21MA of ForceIndex >0 and 13MA of ForceIndex is <0, then there are chances of pullback.


2,817 posts
msg #88916
Ignore chetron
3/1/2010 11:27:30 AM



fi(21) above 0
fi(13) below 0
close above .1
volume above 1000000


4,577 posts
msg #90046
Ignore Eman93
3/21/2010 10:34:04 AM

Fetcher[/*EMANS pull back to 20ma*/

close is above 1
volume > 500000

close crossed above MA(10) within the last 30 days

close crossed above ma(20) within the last 30 days

close crossed above ma(50) within the last 50 days

close < ma(10)

close > ma(20)

low < ma(20)

add column 50 day slope of MA(50)

Add column ind
sort column 5 descending

4 posts
msg #91847
Ignore starbreaker
4/30/2010 4:18:55 PM

I think what your talking about are the first pullback after a breakout. These are scan-able using point and figure charting specifically Triple Top Breakout, Spread Triple Top Breakout, and Bullish Catapult Alerts. See:

I already posted an SF enhancement post regarding this. No need to duplicate the point and figure charting here, but these scans have to be coded at a low level and used as an indicator. Also a break out from triangle and wedge formations indicator would be profitable also since they usually have a good first pullback if the formation is not a fake.

In Wyckoff theory this combination of moves is called "jump across the stream" and a "pullback to the stream". These are the most profitable trading/investing points in a charts longer term price patterns. Then, like you said, the pullbacks after that become gifts of decreasing value until a trend change of some sort.

Some people counter this by finding stocks that "run forever". There you can have 4 - 5 or more pullback entry points, but the party always has to end sometime.

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