Systrader
56 posts
msg #55578
- Ignore Systrader |
10/8/2007 12:57:27 PM
I created a filter based on other postings in SF and not getting the desired result.
The idea is to find stocks that has a hanging man candlesitck with a long tail such that a reversion is expect and bounce off the lower regression line.
I get results that do not satisfy the lower regression line being crossed
Here is the filter and sugestions for improvements and correct behavior welcome:
SF[
/* Filter for a Hanging Man Candlestick Pattern that crosses lower regression line */
set{body_bottom,min(open,close)}
set{body_top,max(open,close)}
set{lshadowsize, body_bottom - low}
set{tshadowsize, high - body_top}
set{body_size, body_top - body_bottom}
set{body_size2, body_size * 2}
set{longtail, body_size*2.5}
Show stocks where lshadowsize > longtail
and low crossed below linear regression(100)
and Average Volume(90) is above 50000
and close is between 5 and 250
]
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dccolt
19 posts
msg #55591
- Ignore dccolt
modified |
10/8/2007 11:41:45 PM
Here is one for the traditional hanging man after an uptrend -
and here is another for a downtrend -
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AdamW328
84 posts
msg #55603
- Ignore AdamW328 |
10/9/2007 1:30:35 PM
These filters are for going short - right?
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dccolt
19 posts
msg #55605
- Ignore dccolt
modified |
10/9/2007 1:52:41 PM
Not necessarily a short signal... the way I understand the hanging man signal, as well as most candle indicators, is the indication that a change in trend may be about to occur. According to Steve Nison's book on candlesticks, a hanging man signal is most noteworthy when it comes at the top of a long uptrend, indicating the trend may be reversing.
I recommend "The Candlestick Course" by Nison for more about candlesticks.
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Systrader
56 posts
msg #55612
- Ignore Systrader |
10/9/2007 8:36:00 PM
Thanks for the follow up ..but I think you missed the issue I have.
It is to do with which regression line of the 3 drawn on the chart that the candle crosses. I want it to cross the lower line.
Pick any stock that is comes through the filter and you will see what I mean on the chart.
I need to see the candle tail crossing below the lower regression line ..most of the time I am seeing the candle crossing the center regression line.
So what is wrong with statement for the linear regression line(100) .
Thanks
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