StockFetcher Forums · General Discussion · reversals - would like your opinion<< >>Post Follow-up
arimont
49 posts
msg #130674
Ignore arimont
8/30/2016 7:21:46 AM

I was looking for reversals where a Hammer comes after 2 (or more) big red candles (for a Long entry) or an Inverted-Hammer after 2 (or more) big green candles (for a Short entry).

What do you think? How can it be improved?

For Long:
Fetcher[
/* Hammer Formation */
/******************************/
set{body_bottom,min(open,close)}
set{body_top,max(open,close)}
set{body_size,body_top - body_bottom}
set{lshadowsize, body_bottom - low}
set{body_size2, body_size * 2}
set{tshadowsize, high - body_top}
lshadowsize is greater then .2
and lshadowsize is greater then body_size2
and body_size is greater then 0

/* Two previous days were big red */
set{C1, close 1 day ago}
set{O1, open 1 day ago}
set{C2, close 2 days ago}
set{O2, open 2 days ago}
set{RC1, C1-O1}
set{RC2, C2-O2}
set{X1, C1*0.02}
set{X2, C2*0.02}
and RC1 is below 0 and RC2 is below 0
and abs(RC1) is above abs(x1)
and abs(RC2) is above abs(x2)
add column x1
add column x2
add column RC1
add column RC2
add column RC3

/* Basic Stock Characteristics */
and price is above 5 and ATR(30) is above 0.50
and open is less then Lower Bollinger Band(20)
and close is greater then open

and offset 0 days ago
]



For Short:
Fetcher[
/* Inv-Hammer Formation */
/******************************/
set{body_bottom,min(open,close)}
set{body_top,max(open,close)}
set{body_size,body_top - body_bottom}
set{lshadowsize, body_bottom - low}
set{tshadowsize, high - body_top}
set{body_size2, body_size * 2}
tshadowsize is grater then .2
and tshadowsize is grater then body_size2
and body_size is greater then 0

/* Two previous days were big red */
set{C1, close 1 day ago}
set{O1, open 1 day ago}
set{C2, close 2 days ago}
set{O2, open 2 days ago}
set{RC1, C1-O1}
set{RC2, C2-O2}
set{X1, C1*0.02}
set{X2, C2*0.02}
and RC1 is above 0 and RC2 is above 0
and abs(RC1) is above abs(x1)
and abs(RC2) is above abs(x2)
and do not draw rc1
and do not draw rc2
and do not draw x1
and do not draw x2
and do not draw abs(rc1)
and do not draw abs(rc2)
and do not draw abs(x1)
and do not draw abs(x2)
and do not draw body_size



/* Basic Stock Characteristics */
and price is between 5 and 100
and ATR(30) is above 0.50
and rsi(14) is above 60
and open is above then upper Bollinger Band(20)
and open is greater then close
]





StefanM
25 posts
msg #130695
Ignore StefanM
8/30/2016 1:51:44 PM

I cannot program this, but I like this filter. As I see the results I had to think of VSA. If your last (signal) bar is a red bar with a long wick on the top on very high volume (Maybe 150% of normal), then this is an indication of selling. It is surely easy to understand.
Also interesting within your filter may be a bar with a very small range but a high volume. The price does not go up or down a lot, but many people sell into the buying. Same reversed for longs.
I thought about modifying your filters but technically I can not without thinking deeper about it. I do not ask you to add these filters, nevertheless it may be an interesting add on to have an extra view on the bars` spread and volume ...

StockFetcher Forums · General Discussion · reversals - would like your opinion<< >>Post Follow-up

*** Disclaimer *** StockFetcher.com does not endorse or suggest any of the securities which are returned in any of the searches or filters. They are provided purely for informational and research purposes. StockFetcher.com does not recommend particular securities. StockFetcher.com, Vestyl Software, L.L.C. and involved content providers shall not be liable for any errors or delays in the content, or for any actions taken based on the content.


Copyright 2016 - Vestyl Software L.L.C.Terms of Service | License | Questions or comments? Contact Us
EOD Data sources: DDFPlus & CSI Data Quotes delayed during active market hours. Delay times are at least 15 mins for NASDAQ, 20 mins for NYSE and Amex. Delayed intraday data provided by DDFPlus