StockFetcher Forums · Filter Exchange · Double Failure Swing High / Low<< 1 2 >>Post Follow-up
imanga
13 posts
msg #160291
Ignore imanga
4/19/2023 9:04:27 AM

Hi,

I have been trying to create a filter which scans for the following condition but for some reason am not able to get it to generate results.

Buy Signal
--------------
A trend is consistently down for x number of days and then we have a close which is above the previous 2 closes, preferably the last bar low will be lower than the previous 2 days low.

close has been decreasing for 5 days
and close 1 day ago is below close 2 day ago
and close is above close 2 day ago

Sell Signal
--------------

A trend is consistently up for x number of days and then we have a close which is below the previous 2 closes, preferably the last bar high will be higher than the previous 2 days high.

close has been increasing for 5 days
and close 1 day ago is above close 2 day ago
and close is below close 2 day ago

Thanks
IM

nibor100
1,041 posts
msg #160292
Ignore nibor100
4/19/2023 10:38:37 AM

post your draft filter so we can fix it!
Thanks,
Ed S.

wantonellis
161 posts
msg #160294
Ignore wantonellis
4/19/2023 1:35:26 PM

The 3rd line in your filter negates the 1st line resulting in zero hits.

842 close has been decreasing for 5 days
486 and close 1 day ago is below close 2 day ago
0 and close is above close 2 day ago

nibor100
1,041 posts
msg #160295
Ignore nibor100
4/19/2023 7:13:26 PM

@imanga,

Sorry, I didn't realize you had included filter snipets in your questions.

Below is my attempt at solving your Buy condition:
Ed S.

Fetcher[
close 1 day ago has been decreasing for 5 days
and close 1 day ago is below close 2 day ago
and close is above close 2 day ago
chart-time is 2 weeks
]





imanga
13 posts
msg #160296
Ignore imanga
4/20/2023 3:02:08 AM

Thank you for your replies.

I mistakenly put the title as Double Swing Failure, dunno if I can edit it to reflect the correct strategy.. its actually Double Close Key reversal High /Low.

You can view the setup here
https://twitter.com/elliottwavtl/status/1187418503239876609?t=JB6NR_o82LKx_SdkeIQmVw&s=19


imanga
13 posts
msg #160297
Ignore imanga
modified
4/20/2023 9:14:10 AM

Thank You @nibor100, I changed 3rd line from close to high and this gives the deserved results for the Buy side trade.



Fetcher[ close 1 day ago has been decreasing for 5 days
and close 1 day ago is below close 2 day ago
and close is above high 2 day ago
chart-time is 2 weeks
and Stochastic %K(5,2,3) is between 15 and 20
]





nibor100
1,041 posts
msg #160299
Ignore nibor100
4/20/2023 9:59:13 AM

Your original post only mentioned the High for the Sell condition so that's why I didn't include it for the Buy condition. I can't add stuff I don't know about....

Thanks,
Ed S.

imanga
13 posts
msg #160301
Ignore imanga
4/22/2023 3:37:47 AM

Sorry if it wasn't clear @nibor100

I suggest you all have this strategy in your toolkit you will be surprised on how consistently it provides profitable trades. I have added a so called cycle indicator [Barry Burns] in the scan I.e the Stochastics with this particular settings.

xarlor
585 posts
msg #160302
Ignore xarlor
4/22/2023 12:44:56 PM

I suggest you limit this pattern to tickers who are already in an established trend.

Also, a trailing stop is advised as the subsequent move is fickle - sometimes it runs long, other times it runs up and quickly reverses again. Of course, there are those that fail and keep going in the failed direction. A trailing stop helps in all three scenarios - long run, short run, failed reversal.

My go-to established trend filter included below.

Fetcher[
/* Bullish Double Close Key Reversal */
/* https://www.stockfetcher.com/forums/Filter-Exchange/Double-Failure-Swing-High-Low/160291 */

/* Define today's bar */
close > close 1 day ago
close > close 2 days ago
high > high 1 day ago
low < low 1 day ago

/* Define yesterday's bar */
close 1 day ago < close 2 days ago
high 1 day ago < high 2 days ago
low 1 day ago < low 2 days ago

close > wma(150) for last 50 days
]




Fetcher[
/* Bearish Double Close Key Reversal */
/* https://www.stockfetcher.com/forums/Filter-Exchange/Double-Failure-Swing-High-Low/160291 */

/* Define today's bar */
close < close 1 day ago
close < close 2 days ago
high > high 1 day ago
low < low 1 day ago

/* Define yesterday's bar */
close 1 day ago > close 2 days ago
high 1 day ago > high 2 days ago
low 1 day ago > low 2 days ago

close < wma(150) for last 50 days
]



imanga
13 posts
msg #160303
Ignore imanga
modified
4/23/2023 5:40:42 AM

Thanks, Xarlor, appreciate your comments on risk management which truly is the Holy Grail of trading.

The subject of this post is misleading as the strategy is actually called a Double Key Close Reveral and is a purely reversal indicator, the stop loss is the high or low.

What you suggest looks more like the Double Failure Swing High / Low which is another powerful technique where the trend has changed, and we get a couple of moves in the opposite direction which fail making lower high/low each time. The resulting move which breaks the last low/high will be in the direction of the main trend.

Here's a small illustration of what I mean by a Double Failure Swing Low...




StockFetcher Forums · Filter Exchange · Double Failure Swing High / Low<< 1 2 >>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 2022 - 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


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.