StockFetcher Forums · General Discussion · building a filter<< >>Post Follow-up
gabbyr2828
4 posts
msg #121739
Ignore gabbyr2828
10/19/2014 7:41:17 AM

Need assistance in building a filter that will look like this

1.The first candle makes a low.
2.The second candle makes a lower low.
3.The third candle makes a higher low.

Any suggestions?

Thanks

Kevin_in_GA
4,542 posts
msg #121740
Ignore Kevin_in_GA
10/19/2014 9:03:13 AM


Need assistance in building a filter that will look like this

1.The first candle makes a low.
2.The second candle makes a lower low.
3.The third candle makes a higher low


++++++++

Well, every candle makes a low. Not sure if you meant a lower low than the previous day but let's say that that is the case (if it is not then just remove the last line of the filter).

Fetcher[
low is above low one day ago
low one day ago is below low two days ago
low three days ago is below low 4 days ago
]



That is all you need. However, this filter does not by itself help much in selecting trades as it is too general and will return far too many candidates. I would add some additional restrictions on price and volume, like this:

Fetcher[
close is above 5
average volume(30) is above 250000
low is above low one day ago
low one day ago is below low two days ago
low three days ago is below low 4 days ago
]



Or you can get a little fancier by using the count() function and require that EVERY day of the last 30 days has had a volume of at least 250000:

Fetcher[
close above 5
count(volume above 250000,30) above 29
low is above low one day ago
low one day ago is below low two days ago
low three days ago is below low 4 days ago
]




or simply select large cap stocks to insure decent liquidity

Fetcher[
market is S&P 500
low is above low one day ago
low one day ago is below low two days ago
low three days ago is below low 4 days ago
]




StockFetcher Forums · General Discussion · building a filter<< >>Post Follow-up

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