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Title: Message
Dear Traders,
For a few days I have been trying to write code
for the following rules, but could not succeed. Can any one please give me
exploration code for the following:
1. There is an initial rally in the stock
either up or down,followed by a pull back in opposit
direction.
2.
The pullback should fulfil the following requirements:
a. Pullback is between 25% - 50% of the initial
rally (the distance travelled from low to high) - the pullback retracement is
calculated using zig function using 5% and 8% reversals
b.
The volume on pullback should be lower than the normal volume during initial
rally
After the pullback when the buying or selling
pressure subsidises, the stock price should again move into the direction of the
initial rally, that means there should be reversal in the pullback and stock
price gets either support or resistence and continued in the same direction of
the initial rally.
3.
To identify the pullback reversal, the following rules to be
identified:
a.
Two consicutive days of movement opposite the direction of the
pullback where the closing on second day is greater than the high of last
pullback day
OR
b. A
single day of movement, opposite the direction of pullback where the white
candle closing price is higher than the high of last pullback day and low is
lower than the low of last pullback day(last black candle)
4.
The volume on the reversal from pullback shld also be higher than the previous
days during the pullback.
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