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Yuki and Jason and others, thanks for your comments
to my post regarding short bodied candles. I am only vaguely
aware of what ATR does. I printed out the stockcharts.com
explanation of it and will read it tomorrow during
lunch.
I have attached a chart which illustrates why I
want to narrow my focus specifically to short bodied candles.
I have been looking at a lot charts in an attempt to identify
conditions which frequently occur just ahead of a quick price runup.
On 3/28.03, XMSR's rising price levels rolled over into a consolidation pattern
of shorter bodied candles. This consolidation pattern of shorter bodied
candles continued until 4/16/03 when it closed at $6.15. When
I am long in an EOD trading setup such as this, I look at various
technical indicators, as well at the chart action, in order to determine
when to exit a trade. I would have received my exit signal in
the EOD data download for 5/7/03. I act on this exit signal by
selling on the open of the following market day. I would have received $11.12,
ignoring slippage. This amounts to a gross profit of almost 81% in 21
calendar days. This is just shy of 1400% annualized. I am AFL
challenged, and have not been able to write code for finding these trading
setups. That is why I tried to modify one to make it find the
short candle patterns. Surely, there are other AB users who are
trading these short candle basing setups, and can assist me here. I am
including my origional post regarding finding Short candles.
I actually like to see a few slightly
larger down day candles during these consolidation patterns. I
interpret them to mean that the bulls are trying to push up the price, but the
bears are still holding the bulls in check. At this stage of my
observations, I want to stick with roughly level, to slightly uptrending
consolidation patterns. I appreciate all criticisms and
suggestions that may be offered.
<FONT face=Arial
size=2>===========================================================================
This is my earlier post.
I searched the Library for flat bases, and consolidations,
and came up with nothing. I am barely starting to
comprehend a few aspects of AFL coding. I found an
indicator that I used as a model in my attempt to try to make an indicator
that would visually show when the distance between the open and close
is diminishing or expanding The first code below is
my MODIFICATION of the Indicator that I used as a model.
The second code below is the ACTUAL INDICATOR that I used as the
model. My attempt failed to work. My real goal
is to have scans that will be able to identify flat
bases, as well as other consolidation patterns. Buy
and sell arrows are not necessary for what I am wanting.
I will then need to be able run this scan on stocks whose
prices move up and down rapidly. I could then place an OCO order (one
cancels other) and catch it whichever way that it breaks out of the
consolidation pattern. Suggestions for improvements, as well as
original codes for consolidation patterns will be appreciated. Ron
D
<FONT face=Arial
size=2>===========================================================================
This is my effort
"Todays Open = "+<FONT color=#0000ff
size=1>WriteVal(O,<FONT color=#ff00ff
size=1>1.2);
"Todays Close = "+<FONT color=#0000ff
size=1>WriteVal(C,<FONT color=#ff00ff
size=1>1.2);
"Distance Open to Close = "+<FONT color=#0000ff
size=1>WriteVal(<FONT color=#0000ff
size=1>abs(O-C),<FONT color=#ff00ff
size=1>1.3);
"Largest Distance = "+<FONT color=#0000ff
size=1>WriteVal(<FONT color=#0000ff
size=1>Max(abs<FONT
size=1>(O-C)),1.3<FONT
size=1> );
"Smallest Distance = "+<FONT color=#0000ff
size=1>WriteVal(<FONT color=#0000ff
size=1>Min(abs<FONT
size=1>(O-C)) ,1.3<FONT
size=1> );
Plot( <FONT color=#0000ff
size=1>Max( <FONT color=#0000ff
size=1>abs(O-C) )<FONT
size=1>," Highest"<FONT
size=1>,colorGreen,styleLine);
Plot( Min<FONT
size=1>( abs<FONT
size=1>(O-C) ), <FONT color=#ff00ff
size=1>" Smallest"<FONT
size=1>,colorRed,styleLine);
<FONT
size=1>====================================================================
This is the code used as a model
/*this is an attempt to determine
the market range AND expansion AND market opens. The idea is to give an
idea of the potential risks AND rewards for any trade taken during
the Day, by knowing what A typical trading Day looks like.
I would need to do catalog the following:
Open
Low
High
Close
the distance from the Open to the Low
the distance from the Open to the High
the distance from the Open to the Close
the smallest distance from the Open for that Day
the largest distance from the Open for that Day
Then I would like to Plot the following:
the 10 Day average of the smallest distance
the 10 Day average of the largest distance*/<FONT
size=1>
"Todays Open = "+<FONT color=#0000ff
size=1>WriteVal(O,<FONT color=#ff00ff
size=1>1.2);
"Todays Low = "+<FONT color=#0000ff
size=1>WriteVal(L,<FONT color=#ff00ff
size=1>1.2);
"Todays High = "+<FONT color=#0000ff
size=1>WriteVal(H,<FONT color=#ff00ff
size=1>1.2);
"Todays Close = "+<FONT color=#0000ff
size=1>WriteVal(C,<FONT color=#ff00ff
size=1>1.2);
"Distance Open to Low = "+<FONT color=#0000ff
size=1>WriteVal(<FONT color=#0000ff
size=1>abs(O-L),<FONT color=#ff00ff
size=1>1.3);
"Distance Open to High = "+<FONT color=#0000ff
size=1>WriteVal(<FONT color=#0000ff
size=1>abs(O-H),<FONT color=#ff00ff
size=1>1.3);
"Distance Open to Close = "+<FONT color=#0000ff
size=1>WriteVal(<FONT color=#0000ff
size=1>abs(O-C),<FONT color=#ff00ff
size=1>1.3);
"Largest Distance = "+<FONT color=#0000ff
size=1>WriteVal(<FONT color=#0000ff
size=1>Max( <FONT color=#0000ff
size=1>Max(abs<FONT
size=1>(O-L),abs<FONT
size=1>(O-H) ) ,abs<FONT
size=1>(O-C) ),1.3<FONT
size=1> );
"Smallest Distance = "+<FONT color=#0000ff
size=1>WriteVal(<FONT color=#0000ff
size=1>Min(Min<FONT
size=1>(abs<FONT
size=1>(O-L),abs<FONT
size=1>(O-H) ),abs<FONT
size=1>(O-C) ),1.3<FONT
size=1> );
Largest10Avg = MA(
Max( <FONT
color=#0000ff size=1>Max(<FONT color=#0000ff
size=1>abs(O-L),<FONT color=#0000ff
size=1>abs(O-H)) ,<FONT color=#0000ff
size=1>abs(O-C) ),<FONT color=#ff00ff
size=1>10) ;
Smallest10Avg = MA(
Min( <FONT
color=#0000ff size=1>Min(<FONT color=#0000ff
size=1>abs(O-L),<FONT color=#0000ff
size=1>abs(O-H) ) ,<FONT color=#0000ff
size=1>abs(O-C) ) ,<FONT color=#ff00ff
size=1>10) ;
Plot(MA<FONT
size=1>( Max( <FONT
color=#0000ff size=1>Max(<FONT color=#0000ff
size=1>abs(O-L),<FONT color=#0000ff
size=1>abs(O-H)) ,<FONT color=#0000ff
size=1>abs(O-C) ),<FONT color=#ff00ff
size=1>10) ,"10MA
Highest"<FONT
size=1>,colorGreen,styleLine);<FONT color=#0000ff
size=1>
Plot(MA<FONT
size=1>( Min( <FONT
color=#0000ff size=1>Min(<FONT color=#0000ff
size=1>abs(O-L),<FONT color=#0000ff
size=1>abs(O-H) ) ,<FONT color=#0000ff
size=1>abs(O-C) ) ,<FONT color=#ff00ff
size=1>10), "10MA
Smallest",colorRed,styleLine);
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