fotchstecker
304 posts
msg #122660
- Ignore fotchstecker |
1/28/2015 6:02:28 PM
I've been reading Raschke lately and am interested in one of her ideas, the "failed patttern".
"
AT: What's an example of a pattern you use in trading?
LBR: Here's an interesting one based on a failed pattern: If
today has the widest range of the past four days and an up
close, the odds the low of the bar will be taken out in the next
two days is the least-probable scenario.
We came up with a great little system based on that: If you
see a wide-range bar with a lower close or a higher close and
the high or low of that bar is taken out within two days, it's a
signal.
If there was a down-closing wide-range bar and the market
takes out the high of that bar within two days, it's a buy signal,
because that's the least-probable scenario - it occurs maybe 20
percent of the time. And when the least-probable scenario
plays out, there's a very powerful reason why.
"
I took an embarrassingly simplistic stab at it, but I'm not very proficient with more sophisticated syntax. I think this could be a useful set of filters. Anyone interested in taking a shot at translating her scenarios above?
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