StockFetcher Forums · General Discussion · Finding a Market Top<< >>Post Follow-up
kozzythedog
4 posts
msg #81796
Ignore kozzythedog
10/26/2009 9:24:04 PM

I came across this post on another blog. It looks very interesting, but could be hard to find.

I am not a programmer, but I would like someone to build a scan for this. By adding some additional overbought indicators, could only help to confirmed the move.

So thanks!

zDon

So here it is:


Take the bar that the alleged High was made. The next
bar must take out the low of the bar that made the High and close lower.
Then, the next bar had to take out the High of the bar that took out the low
of the High day's bar and close lower. (Look at Wed (oct 21,2009)., Thurs., Friday on the
SPY. That's it in the flesh.) (This is confirmed on the daily chart)

To be valid, this sequence had to be complete within 5 days
- the sooner the better. Three days, obviously, is the bare minimum for the
set-up to occur.


chetron
2,817 posts
msg #81802
Ignore chetron
modified
10/26/2009 10:34:44 PM

maybe...


Fetcher[

HIGH 2 DAY AGO ABOVE HIGH 21 DAY HIGH 3 DAY AGO
LOW 1 DAY AGO BELOW LOW 2 DAY AGO
CLOSE 1 DAY AGO BELOW CLOSE 2 DAY AGO
HIGH ABOVE HIGH 1 DAY AGO
CLOSE BELOW CLOSE 1 DAY AGO


]



MAYBE....

Fetcher[
CLOSE 2 DAY AGO ABOVE OPEN 2 DAY AGO
LOW 1 DAY AGO BELOW LOW 2 DAY AGO
CLOSE 1 DAY AGO BELOW CLOSE 2 DAY AGO
HIGH ABOVE HIGH 1 DAY AGO
HIGH BELOW HIGH 2 DAY AGO
CLOSE BELOW CLOSE 1 DAY AGO


VOLUME 1 DAY AGO BELOW VOLUME 2 DAY AGO
VOLUME 1 DAY AGO BELOW VOLUME
]



moby
314 posts
msg #81813
Ignore moby
10/27/2009 1:07:51 AM

Man Chetron, you Rock!

That is mighty quick work on the code translation and it works perfect. Bravo.



chetron
2,817 posts
msg #81814
Ignore chetron
10/27/2009 6:57:46 AM

THANX = D

kozzythedog
4 posts
msg #81841
Ignore kozzythedog
10/27/2009 12:09:07 PM

Great Job Chetron! I'm going to paper trade some of these results and see how they roll out. I've added some overbought indicators as well.

Hope we got a winner!

Thanks again!

chetron
2,817 posts
msg #81844
Ignore chetron
10/27/2009 12:48:10 PM

kozzythedog, WHAT INDICATORS ARE YOU USING?

kozzythedog
4 posts
msg #81862
Ignore kozzythedog
10/27/2009 3:57:07 PM

I'm using RSI(3), Stoch(8,4,4), CCI(10), Momentum(10). I'm looking for the RSI to be over 99, Stoch to be above 95, CCI to be moving off the top and the Momentum to be pointing down. I also have a Linear Regression Channel for further confiration of resistance.

Do you or anyone else have any other suggestions on making this more accurate?

trendscanner
265 posts
msg #81886
Ignore trendscanner
modified
10/27/2009 7:59:03 PM

Just thinking out loud (always a dangerous activity), you might want to add the following line, since you indicate you're looking for a market top, not a top for an individual stock

apply to symlist(spy)

SPY doesn't behave exactly as the SPX but it's a pretty close proxy.

Something else that might help confirm a top is a negative divergence in MACD or similar indicator, i.e., SPX is making a new high but RSI(14) or MACD is not confirming the new high.

I don't know how to search for these divergences particularly well, but one way that might work is something like this (assuming that we're looking for, say, a negative divergence in rsi(14))

set{DRSI, days(rsi(14) reached new 4 month high, 100)}
drsi > 30
rsi(14) below 4 month high for last 30 days


Hope that helps


StockFetcher Forums · General Discussion · Finding a Market Top<< >>Post Follow-up

*** Disclaimer *** StockFetcher.com does not endorse or suggest any of the securities which are returned in any of the searches or filters. They are provided purely for informational and research purposes. StockFetcher.com does not recommend particular securities. StockFetcher.com, Vestyl Software, L.L.C. and involved content providers shall not be liable for any errors or delays in the content, or for any actions taken based on the content.


Copyright 2016 - Vestyl Software L.L.C.Terms of Service | License | Questions or comments? Contact Us
EOD Data sources: DDFPlus & CSI Data Quotes delayed during active market hours. Delay times are at least 15 mins for NASDAQ, 20 mins for NYSE and Amex. Delayed intraday data provided by DDFPlus