StockFetcher Forums · General Discussion · reversals - would like your opinion<< >>Post Follow-up
arimont
57 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

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