StockFetcher Forums · General Discussion · Horizontal Resistance - Finding the next Resistance above current Price.<< >>Post Follow-up
RPbb2021$$
5 posts
msg #160473
Ignore RPbb2021$$
8/3/2023 9:36:55 AM

Hello gals and guys,
Picture a scenario where a stock has tested a couple of times a Resistance level at let's say $100 and then has pulled down to $95.
I'll like to build a filter that would tell me when the "close" of such stock closes above such a Resistance e.g. above $100.
I have tried and tried, God I have tried to work with the "Resistance" tools offered by SF but I have noticed they would never tell me that the Resistance is at $100 because SF resistances trace not as a horizontal line but as a diagonal line.
In short, can anybody help me to figure out the value of the "next resistance" of a particular stock above the current price?
Thank you in advance for your time and help.
PB

wantonellis
154 posts
msg #160475
Ignore wantonellis
8/3/2023 12:16:21 PM

This may be close to what you're looking for.

Fetcher[
volume > 100000
close 1 day ago crossed above resistance(45,15,2)
do not draw resistance(45,15,2)
draw price line at resistance(45,15,2)
add column resistance(45,15,2)
]



xarlor
548 posts
msg #160478
Ignore xarlor
8/4/2023 9:49:12 AM

Threw this together in an attempt to follow your thinking. It may help get your creative juices flowing.

Not too shabby as a swing trade. Buy at the close, sell during the run-up (don't get greedy) or if it closes below 30dh. In my example, I included a suggested target profit of 2% to sell at.

Fetcher[
/* Let's limit the universe to at least semi-quality tickers */
optionable

/* 30-day high close is a good resistance line. Let's look for stocks that dipped from there, then recently started coming back up */
set{30dh,close 30 day high 10 days ago}
draw price line at 30dh
close 1 day ago < 30dh for last 20 days
close 1 day ago near 30dh
10 day slope of close 10 days ago < 0
10 day slope of close > 0

/* The trigger. After the comeback, we want it to break above resistance */
close crosed above 30dh

/* Visualize your profit target here. 1% is 1.01. 2% is 1.02. 3% is 1.03, etc */
set{target,close * 1.02}
draw price line at target

do not draw 30dh
]



RPbb2021$$
5 posts
msg #160493
Ignore RPbb2021$$
8/16/2023 10:09:02 AM

Thank you so much xarlor, wantonellis - very interesting; it certainly helps.

sr7
92 posts
msg #160550
Ignore sr7
9/11/2023 7:43:28 PM

Fetcher[
market is not OTCBB
market is not etf


close crossed above resistance(45,15,2) within the last 3 days
do not draw resistance(45,15,2)
draw price line at resistance(45,15,2)
add column resistance(45,15,2)


/* close is above Support Line(45,15,2)
do not draw Support Line(45,15,2)
draw price line at Support Line(45,15,2) */


close is above 12
volume >= 900000


pe >= 1
add column pe



/* Using 3,7 for the Inverse Fisher Transform */
IFT(3,7) is above .80
draw IFT(3,7) line at -0.50
draw IFT(3,7) line at .80




/* - - - - 18 star bullish trend - - - - - */
Set{18_star_BullishTrend, ma(2) minus ma(18)}
draw 18_star_BullishTrend line at 0
and 18_star_BullishTrend is above 0

]



sr7
92 posts
msg #160551
Ignore sr7
modified
9/11/2023 8:39:58 PM

I meant 52 week High line and not 52 day high, sorry


Fetcher[


market is not OTCBB
market is not etf


close crossed above resistance(45,15,2) within the last 3 days
do not draw resistance(45,15,2)
draw price line at resistance(45,15,2)
add column resistance(45,15,2)


/* close is above Support Line(45,15,2)
do not draw Support Line(45,15,2)
draw price line at Support Line(45,15,2) */


close is above 12
draw 52 week High /* 52 week High in **relation** to closing price -- Do not move this line; Position matters. */

volume >= 900000


pe >= 1
add column pe



/* Using 3,7 for the Inverse Fisher Transform */
IFT(3,7) is above .80
draw IFT(3,7) line at -0.50
draw IFT(3,7) line at .80



/* - - - - 18 star bullish trend - - - - - */
Set{18_star_BullishTrend, ma(2) minus ma(18)}
draw 18_star_BullishTrend line at 0
and 18_star_BullishTrend is above 0


]



StockFetcher Forums · General Discussion · Horizontal Resistance - Finding the next Resistance above current Price.<< >>Post Follow-up

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