StockFetcher Forums · Filter Exchange · Trendline breakout<< >>Post Follow-up
nikoschopen
2,824 posts
msg #37876
Ignore nikoschopen
9/8/2005 7:11:32 PM

**This happens to be a rehash from the general forum**

I'm trying to filter out a stock that breaks above (or below) a trendline. The basic idea is to connect two dots from the previous 2 month high (or whatever you choose as the time frame) and the current week's high. ONLY IF YOU CAN DRAW THE DAMN LINE like you can for support & resistance. For example, look at the following filter:

Fetcher[
set{hi, high 8 week high}
set{lo, high 1 week high}
set{diff, hi - lo}
set{ratio, diff divided by lo}
ratio above 0.2
]



As you can see, I have given the two dots: the first as the 8-week high & the other as this weeks high. The price difference between the two must exceed 20%. Now if SF can allow us to draw a line between the two and find stocks that penetrate above or below the line, this filter would be satisfied.


TheRumpledOne
6,359 posts
msg #37882
Ignore TheRumpledOne
9/8/2005 11:05:44 PM

See this thread:

/* BREAKOUTS Punching through the top channel line */



nikoschopen
2,824 posts
msg #37888
Ignore nikoschopen
9/9/2005 4:07:58 AM

Rumpie, I don't see how the "slope of" expression can be substituted for a trendline. In an uptrend, the line is drawn from the lower low to the higher low. In a downtrend, the line is drawn from the higher high to the lower high. But the "slope of " line, on the other hand, seems to utilize the "median" approach. A sample chart given in the announcement forum (http://www.stockfetcher.com/stockdb/fetcher?p=forum⊂=view&fid=1004&tid=26934) illustrates my point. That's an uptrend for sure, but the line looks more like a median of a channel than an uptrend line. BTW, my idea of a trendline would work by using the "channel" filter (sort of, although that doesn't quite look right either). For instance, you can find an upside breakout with the following filter:

Fetcher[
Price crossed above top of a decreasing 120 day channel
]



Again, not a perfect trendline. On another note, I wonder if you can some how tweak the slope line of the "slope of". Since it appears as a median anyway, what if you bring it down 50% or above 50%? Can this be done? More thouoghts required...


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