StockFetcher Forums · General Discussion · Inside bar trading<< >>Post Follow-up
alichambers
48 posts
msg #42928
Ignore alichambers
4/13/2006 10:11:10 AM

Dear all,

I've been using a purely technical trading system on the forex that utilises inside bars. I've had a good return from it. However, they system can also be used on stocks - and I'm planning to use stockfetcher to select stocks for me. SF looks great.

If you've never heard of inside bars, they are bars that have a high and a low less than the bar before. They look like this:

|
| |
| ^Inside bar

Their importance is that they reflect an area where the market is consolidating into a tight range of low volatility. The market always explodes out of a tight range - it's natural cycle is to go from low volatility to high volatility and back again.

Of course, the trick is to determine which of these inside bars are "significant" - ie. have the greatest chance of movement thereafter. This is where the system comes in. It uses inside bars at fibonacci levels, support/resistance, etc... Inside bars can be used on any financial instrument (futures, indexes, stocks, etc) and any time frame.

The URL is:
http://www.chambers-media.com/track/Inside_bar_trading.html

This may come across as a blatant advert. It is in one way. I own several trading systems (yes - I was looking for the "holy grail"), but I have stuck on this. I've been making a good return on the forex. I really like this system and recommend at least checking it out.

I am going to be using the system to scan for inside bar stocks in stockfetcher, so I'll keep you posted with the results and any stockfetcher scans I use. If anyone is interested, I'll post up buy and sells I do.

Alex Chambers



AfricaFund
18 posts
msg #42941
Ignore AfricaFund
4/13/2006 7:57:45 PM

It's called a Harami pattern in candlestick lingo, and I believe Stockfetcher allows you to filter for them.....


markcrisp
187 posts
msg #42980
Ignore markcrisp
4/16/2006 2:21:36 AM

Forex trading...

Can you give me your email?




TheRumpledOne
6,358 posts
msg #42999
Ignore TheRumpledOne
modified
4/16/2006 1:59:01 PM

Fetcher[
/* inside bars filter */

/* enter your Upper Limit criteria Dynamic Resistance */
set{DynRes, High 5 Day High}

/* enter your Lower Limit criteria Dynamic Support */
set{DynSup, Low 5 Day Low}

set{LimDiff, DynRes minus DynSup }
set{PPDiff, CLOSE minus DynSup }
set{PPDiv, PPDiff / LimDiff}
set{FibLev, PPDiv * 100}

/* display columns */

and add column FibLev
and add column DynRes
and add column DynSup

and add column industry

/* enter your SELECTION criteria */

high < high 1 day ago
low > low 1 day ago

close above 5
volume above 500000

/* sort criteria */
sort column 5 descending
]



I added the dynamic support/resistance columns and the fib level.

HTH.

MAY ALL YOUR FILLS BE COMPLETE.



TheRumpledOne
6,358 posts
msg #43000
Ignore TheRumpledOne
4/16/2006 2:06:26 PM

Fetcher[
/* inside bars filter display */

set{xTop, count(high < high 1 day ago , 1) }
set{xBot, count(low > low 1 day ago , 1) }
set{ibar, xTop + xBot}

/* display columns */

and add column ibar

and add column industry

/* enter your SELECTION criteria */

ibar equal 2
close above 5
volume above 1000000

/* sort criteria */
sort column 5 descending
]



Here's a filter display you can add to your filters.

When 1bar = 2, the stock had an inside bar.

You can display, sort and/or select using ibar.

HTH.




TheRumpledOne
6,358 posts
msg #43002
Ignore TheRumpledOne
4/16/2006 2:13:08 PM

Alex:

Looking forward to your posts.




alichambers
48 posts
msg #42996
Ignore alichambers
modified
4/18/2006 4:41:54 AM

Mark - my email is:

dralexchambers(at)yahoo(dot)com





StockFetcher Forums · General Discussion · Inside bar trading<< >>Post Follow-up

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