StockFetcher Forums · General Discussion · Multi-tap breakout chart scan<< >>Post Follow-up
ckz8780
5 posts
msg #107896
Ignore ckz8780
9/3/2012 12:30:47 PM

Hey all,

I'm a daytrader/swingtrader and have been trying to write a scan for a particular price pattern I find to be very high probability but I can't seem to figure out where to start. Rather tan try to explain the pattern I will just post a link to a chart that shows what I'm looking for http://twitpic.com/aqrkm4/full

If you look at the chart you can see it is essentially an ascending triangle, but I've found the ascending triangle scan in stockfetcher to be a little too loose. Maybe it's just tweaking that scan that will get me what I want, but basically I am looking for something that is an ascending triangle with a close below the top of it, as well as multiple taps of the top of the triangle. What would be ideal is an ascending triangle where the high has been equal to or within 1-2 pennies of the top of the triangle at least 3x throughout the period the triangle encompasses, and is now approaching the 4th "tap" as usually on the 4th or 5 tap the triangle will break to the upside. In the case of the SAH chart I posted, I would be watching the price over $18.15 for a breakout.

I am not sure how to describe the "top" of the triangle, so I don't know how to describe the relationship between it and the price/close/high/etc. I have also tried using linear regression slopes and creating variables for the median price and using the slope of that but my results are still sloppy.

Anyway, I don't have anything written for this scan as I haven't been able to write anything that produced any meaningful results but I'm hoping maybe we can start here using the ascending triangle scan and together we can tweak it to do what I'm looking for. Anyone have any input? I'd be happy to share the scan when I complete it!

Thanks

mahkoh
892 posts
msg #107897
Ignore mahkoh
9/3/2012 5:41:04 PM

Whenever I run into a pattern that appeals to me I use this

Fetcher[
close above 2
and average volume(30) is above 50000


add column corr(sah,30,Close) is above 0.80

sort on column 5 descending

add column industry
]



ckz8780
5 posts
msg #107916
Ignore ckz8780
9/4/2012 11:12:57 PM

Thanks! That seems to work fairly well. Could you explain the syntax so I could tweak it? It looks like it is corr(symbol,number of days,thing to compare) - is that correct?

Thanks!

duke56468
683 posts
msg #107919
Ignore duke56468
9/5/2012 12:06:23 PM

Adjustments in this might get you close

Fetcher[Show stocks where the count(high reached new 60 day high, 30) is above 3
and pattern is ascending triangle
and close is near 60 day high
]



mahkoh
892 posts
msg #107951
Ignore mahkoh
9/7/2012 3:46:33 PM

It looks like it is corr(symbol,number of days,thing to compare) - is that correct?

I would say that is correct. Happy tweaking.

http://forums.stockfetcher.com/sfforums/?q=view&fid=1006&tid=95213&isiframe=

mahkoh
892 posts
msg #107952
Ignore mahkoh
modified
9/7/2012 3:56:12 PM

This uses ma(4) and gives you some info on recent earnings increase/decrease.

(btw, nice breakout on SAH .)

Fetcher[
close above 2
and average volume(30) is above 50000


add column corr(sah,30,ma(4)) is above 0.80

sort on column 5 descending

add column industry
draw ma(4)
add column eps lastq
add column eps
add column trailing eps
add column epsincrperc{incr%}
set{epsincr,eps - eps lastq}
set{epsincrperc1,epsincr/abs(eps lastq)}
set{epsincrperc,epsincrperc1*100}
]



ckz8780
5 posts
msg #108077
Ignore ckz8780
9/17/2012 8:46:10 PM

Thanks for all the tips guys! This forum is awesome! I am working on tweaking it :)

StockFetcher Forums · General Discussion · Multi-tap breakout chart scan<< >>Post Follow-up

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