StockFetcher Forums · Filter Exchange · Triangles, pennants etc<< >>Post Follow-up
jculshaw
5 posts
msg #33019
Ignore jculshaw
8/27/2004 1:10:40 PM

Has anyone tried to write any code for these for stockfetcher? All of these formations share one thing in common and that's that the stocks in triangle formations should be trading for the past 2-3 weeks to 3 months in a narrowing channel/range. Is it possible to code something along these lines? Breakouts of these formations seem to be extremely profitable with low failure rates so it would be good if there was a filter to pick out the candidates for break out.


robdavis
69 posts
msg #33025
Ignore robdavis
8/27/2004 4:30:41 PM

Jculshaw,

Hey, this is great stuff that seems to work! Thanks for bringing this to our attention! SF's announcement of 1/20/03 and Defghca's article of 5/9/04 give us some good, useable filters that detect triangle patterns. Yes, we want breakouts that originate from triangle formations.

But, to be on the safe side, we should do some additional back testing; we want to verify if this (or any other, similar) filter based on triangles is really good; preliminary results are very encouraging.
Fetcher[
/*TO BUY*/
Show stocks where
close is between 1 and 250
and average volume(90) is above 100000
and volume 30 day low is greater than 100000
and close is ABOVE the UPPER ASCENDING triangle(55)
]


Fetcher[
/*TO SELL OR SHORT SELL*/
Show stocks where
close is between 1 and 250
and average volume(90) is above 100000
and volume 30 day low is greater than 100000
and close is BELOW the LOWER DESCENDING triangle(55)
]


I hope this helps.

Rob


robdavis
69 posts
msg #33027
Ignore robdavis
8/27/2004 4:52:40 PM

P.S.: We can improve our odds, if we (restrict the breakout to the most recent day and) write...
Fetcher[
/*TO BUY*/
Show stocks where
close is between 1 and 250
and average volume(90) is above 100000
and volume 30 day low is greater than 100000
and close has crossed above upper ascending triangle(55) in last 1 day
]


Fetcher[
/*TO SELL OR SHORT SELL*/
Show stocks where
close is between 1 and 250
and average volume(90) is above 100000
and volume 30 day low is greater than 100000
and close has crossed below lower descending triangle(55) in last 1 day
]


But, as you see, the more restrictions we add, the fewer stocks we will have.

I hope this helps.

Rob



jculshaw
5 posts
msg #33028
Ignore jculshaw
8/27/2004 4:55:39 PM

thanks - as usual Rob, a great post - I wish I wasn't so code autistic! I'm going to look at these screens over the weekend and see how they work.
thanks again.
JC


jculshaw
5 posts
msg #33086
Ignore jculshaw
9/1/2004 10:07:27 AM

looking at the stocks pulled up quite often you seem to get matches which aren't true triangle formations and so aren't as strong. Is it possible to code for all the stock action judged on close to be within the triangle and and the resistance at the top of the triangle and the support on the bottom has each been tested and held al least twice each. As a general point with triangles it is probably better to monitor on a real time basis stocks which are in triangles and look likely to break out as often the most profitable days are the day of the breakout and the day or 2 after and once you've captured this move you can move on as retraces often occur to at least the breakout point.


StockFetcher Forums · Filter Exchange · Triangles, pennants etc<< >>Post Follow-up

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