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Yes, Charles..... that's what I'm looking for any idea on an exploration?
Thanks,
Gene
----- Original Message -----
From: Charles Kalb
To: MetaStock List
Sent: Friday, August 03, 2001 11:24 AM
Subject: Re: High Tight Flag
Hi Gene.........I'm curious as to why you see price gaps as being relevant
to High Tight Flags (HTF's). Maybe we are talking about different
formations. I've attached a small GIF file that shows, I think, a High Tight
Flag/Pennant currently forming for PHCC. My reading is that the flag is now
in its 7th day of formation. Does this example match your concept of an HTF?
PHCC made a strong run after bouncing up from a 262% Fibonacci retracement
level and is now consolidating just above the 162% level. The placement of
the short-term downtrend line is still a bit fuzzy, and the jury is still
out on which way PHCC will break.
Although it is not straightforward, I could see that an exploration for
HTF's would be possible. First, one could specify a minimum desired
percentage change for the run-up (or rundown) in price. The number of days
to achieve this could be as little as one. Criteria could be added to make
the run-up nice and orderly such as each day's close greater than the
previous close. Then one could specify that the Flag formation phase has
started, where daily price range stays in a horizontal band of say no
greater than 20% of the initial run-up percentage, say for at least two
days. Then, finally, a breakout criterion could be added which finds
securities that have closed above the horizontal Flag formation band.
Because of the propensity of HTF's to fly at "half mast", a successful
breakout often duplicates the gain from the initial run-up. I'd like to have
such an exploration also.
Comments welcomed.
Charles
----- Original Message -----
From: Gene Ricci
Sent: Tuesday, July 31, 2001 12:20 AM
To: metastock@xxxxxxxxxxxxx
Subject: High Tight Flag
Does anyone have a mathematical formula for a HTF (high tight flag)? Better
yet, a MS Explore? I'm looking for a way to find price gaps.
Thanks,
Gene
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