jaketheguy
52 posts
msg #38107
- Ignore jaketheguy |
9/20/2005 3:55:32 PM
The filter below meets the guidelines provided in this link:
http://www.litwick.com/indicators/1122.html
The filter also checks for the 'next day confirmation' according to the description in the link.
Cheers!
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jaketheguy
52 posts
msg #38110
- Ignore jaketheguy |
9/20/2005 3:59:36 PM
Would anyone like to pick up the gauntlet and contribute to this thread, by adding the 'Inverted Hammer' to some other Muddy conditions (like consecutive down days, etc.), to try and come up with higher performance reliability, and post back their modified filter and findings to the thread? :-)
Whew! So many filters, and so little time. LOL!
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rtucker
318 posts
msg #38126
- Ignore rtucker |
9/21/2005 7:16:16 PM
jaketheguy,
Dug up this method by "Mika" to calculate ratios. I always assumed it works like "close-low is 400% greater than open-close" etc.. but I may be wrong.
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nikoschopen
2,824 posts
msg #38139
- Ignore nikoschopen |
9/22/2005 2:45:49 PM
Might I add that, technically speaking, a Hammer should ideally be found at the "bottom" of the cycle to be effective as a revesal indication. According to Steve Nison, an Inverted Hammer, unlike a Shooting Star, shouldn't be taken seriously since the potential for a further drop outweighs the possibility of a reversal in a downtrend. (Hence the need for a confirmation).
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