StockFetcher Forums · Filter Exchange · Suggestions Finding 'W' & 'M' Formations?<< >>Post Follow-up
OEGEO
9 posts
msg #84866
Ignore OEGEO
12/23/2009 1:52:51 PM

Has anyone had any success with using the SF statement 'where pattern is incomplete double-top(2)' (and '- bottom')? What is the number specified at the end supposed to do?

So far, I'm pretty unconvinced of it's usefulness, it doesn't seem to do what it was designed to do at all and I'm ready to explore other methods of scoping down incomplete 'W' and 'M' formations. Suggestions?

Thanks!

chetron
2,817 posts
msg #84879
Ignore chetron
modified
12/23/2009 4:09:31 PM

the number might be the % amount that the close crossed above the support, as this number increase the closer you get to resistance line, but this is just a guess.


hth

fyi, there is no double-top thingy....

OEGEO
9 posts
msg #84883
Ignore OEGEO
12/23/2009 4:28:41 PM

StockFetcher User Guide, pages 116-118 explains 'double-top' and 'double-bottom' statements. The number in parentheses is inferred as days but the precise function is not clear. Number of days over which the pattern stretches, number of days since the pattern began, or something else altogether, it is not clear. As such there is no real way to tell if the statement is actually functioning as intended. 'W' & 'M' formations can be seen just about anywhere over any length of time, so as far as I can see there no way of proving or disproving the effectiveness of StockFetcher's 'double-top' and 'double-bottom' statements.

chetron
2,817 posts
msg #84887
Ignore chetron
12/23/2009 5:09:47 PM

OEGEO, you are right, there is a double top thingy, and thank you for letting me know that the number is for the number of days.

chetron
2,817 posts
msg #84918
Ignore chetron
12/24/2009 1:38:02 PM

AS TO THE DOUBLE BOTTOM, THE DAYS ARE THE MAXIMUM DAYS SINCE THE BOUNCE OFF SUPPORT AND HAS NOT REACHED RESISITANCE.

SO IF YOU PUT AN 8,THEN IT WILL RETURN ALL EQUITIES THAT HAVE BOUNCED OFF SUPPORT WITHIN THE LAST 8 DAYS AND VICE VERSA FOR THE DOUBLE TOP.

HTH

StockFetcher Forums · Filter Exchange · Suggestions Finding 'W' & 'M' Formations?<< >>Post Follow-up

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