StockFetcher Forums · Filter Exchange · Weekly reversal from the low<< >>Post Follow-up
993 posts
msg #105458
Ignore mahkoh
3/15/2012 6:16:41 PM

close above 5
average volume(14) above 400000

set{Range,weekly High 1 week ago - weekly Low 1 week ago}
set{MinCloOp, min(weekly Close 1 week ago,weekly Open 1 week ago)}
set{TailRng, MinCloOp - weekly Low 1 week ago}
set{TailRatio, TailRng / Range}

set{x,count(tailratio above 0.5,100)}
add column x{occured}
x above 25 do not draw x
sort column 6

set{y,close - weekly open}
set{y1,y/weekly open}
add column drop{%drop}

chart display is weekly
chartlength is 52 weeks

This filter shows stocks that in the past have tended to print weekly candles with long bottom tails.
Column occurence tells you how many times the tail was at least 50 % of the body during the last 100 weeks.
Column %drop tells you how much the stock is down since this week's open.
Be aware that the filter does not tell you where the bottom is.

993 posts
msg #105605
Ignore mahkoh
3/22/2012 6:17:09 PM

Having another go at this; if the weekly candle is very small there's not a big achievement in printing a tail that is half the total candle. The filter below shows statistics where only candles are considered if the low is at least 4 % below the weekly open.
Column "total" tells you how many times the intraweek drop from open was at least 4 % in the last 50 weeks
"succeed" and "fail" how many times it subsequently recovered at least half of this drop, resulting in the "success rate" column by which the results are sorted.
Column "down" tells you how much the stock is, well, down at the moment for this week.

average volume(30) above 250000
price above 6
price has been above 5 for the last 50 weeks

set{x,weekly open 1 week ago - weekly low 1 week ago}
set{x1,x / weekly open 1 week ago}
set{x2,x1 * 100}
set{target1,x / 2}
set{target,weekly open 1 week ago - target1}
set{xx,count(weekly close 1 week ago above target,1)}
set{xx1,count(weekly close 1 week ago below target,1)}
set{yy,count(x2 above 3,1)}
set{z1,count(z above 0.5,50)}
set{z3,count(z2 above 0.5,50)}
add column z5{rate}
add column z1{succeed}
sort column 5 descending
add column z3{fail}
add column z4{total}
set{z4,z3 + z1}

set{e,weekly open 1 week ago *0.96}
set{e1,count(weekly low 1 week ago below e,50)}
e1 above 20 do not draw e1

chart display is weekly
chartlength is 52 weeks

set{f,weekly open - close}
set {f1,f/weekly open}
f2 above 3 do not draw f2
add column f2{down}

287 posts
msg #105613
Ignore novacane32000
3/22/2012 9:21:24 PM

Trying to figure out how to trade this.

I ran the filter today and sorted by total -I see that TSL dropped 4% 45 times out of 50 from the weekly open which I assume to be Monday. Does that mean I have a 90% chance of making a 4% profit if I short TSL at the open Monday based on the historical movement of the past 50 weeks?

993 posts
msg #105617
Ignore mahkoh
3/23/2012 2:35:25 AM

That is an interesting approach towards the filter. I guess you are right.

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