StockFetcher Forums · General Discussion · Three bar reversal<< >>Post Follow-up
aziam
24 posts
msg #102819
Ignore aziam
10/4/2011 3:02:51 PM

Could anyone help me with this - apologies in advance, I can barely program my alarm clock;

First bar (1) closes above open.
Second bar (2) has a higher low and a higher high (close must be higher than the open of previous bar (1) ).
Third bar (3) closes below that day's open (3) with a lower low and a lower high than the previous bar (2)
and a close below the open of the first bar (1).

In some circles its called a pin(occhio) bar. I look for a retracement (usually 50%) within a few bars of its completion, particularly if the preceding price action confirms my bias.

Again, TIA




aziam
24 posts
msg #102823
Ignore aziam
10/4/2011 4:34:18 PM

They say a picture is worth a thousand words. this illustrates what I'm looking for with one notable exception. I specify that the third bar has to close below the open of the first bar (short) or above the open of the first bar (long) to validate the set up.


http://www.mypivots.com/dictionary/definition/208/3-bar-reversal-pattern-3br

dwiggains
391 posts
msg #102827
Ignore dwiggains
modified
10/5/2011 11:20:50 AM

Hi

Fetcher[
close 2 days ago > open 2 days ago
close 2 days ago > close 3 days ago
high 2 days ago > high 3 days ago

close 1 day ago > close 2 days ago
Close 1 day ago > open 1 day ago
high 1 day ago > high 2 days ago

low < low 1 day ago
close < close 1 day ago
high < high 1 day ago

close > 5 and volume > 500000
]



The first section should be your bar 2 days ago

Second section bar 1 day ago

Third section is today's bar

Good Luck
See ya
David


aziam
24 posts
msg #102838
Ignore aziam
10/6/2011 9:32:01 AM

Thank you David. I think I might need to tinker with the filter a little though.

aziam
24 posts
msg #102844
Ignore aziam
10/6/2011 12:30:40 PM

Did anyone notice that the E-Mini index retraced the overnight high from yesterdays RTH low exactly to the 50% point at 1129.00?


aziam
24 posts
msg #102852
Ignore aziam
10/6/2011 6:03:18 PM

I think this works. Thanks so much for David's help.


close 2 days ago < open 2 days ago
close 2 days ago < close 3 days ago
high 2 days ago < high 3 days ago

high 1 day ago < high 2 days ago
low 1 day ago < low 2 days ago
low > low 1 day ago

close > open 2 days ago
high > high 1 day ago

Close > 5 and volume > 1000000

dwiggains
391 posts
msg #102854
Ignore dwiggains
10/7/2011 9:09:38 AM

Clickable

Fetcher[
close 2 days ago < open 2 days ago
close 2 days ago < close 3 days ago
high 2 days ago < high 3 days ago

high 1 day ago < high 2 days ago
low 1 day ago < low 2 days ago
low > low 1 day ago

close > open 2 days ago
high > high 1 day ago

Close > 5 and volume > 1000000
]



See ya
David

StockFetcher Forums · General Discussion · Three bar reversal<< >>Post Follow-up

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