StockFetcher Forums · Filter Exchange · NEW HIGHS REVERSAL KNOCK OUT FILTER<< >>Post Follow-up
miketranz
956 posts
msg #153540
Ignore miketranz
8/13/2020 11:15:40 AM

Any ideas would be highly appreciated.Day 1) Stock makes a new 52 week high.Day 2)Stock reverses lower. Day 3)Stock reverses higher. MCRB is the model stock.The idea is to go long the close of day 3.It's basically a trend knock out filter.Thanks,Miketranz...

Cheese
1,374 posts
msg #153542
Ignore Cheese
8/13/2020 11:25:41 AM

maybe something like this

Fetcher[
CHART-TIME 2 MONTHS

NOT OTCBB

VOLUME > 100000

Show stocks where
close reached a new 52 week high 3 days ago
close 2 days ago < close 1 day ago
close 1 day ago > close 2 days ago
]



xarlor
561 posts
msg #153543
Ignore xarlor
8/13/2020 11:32:42 AM

Cheese, you went back 1 too many days. You want Day 3 to be today so you can enter at close. Also, I made Day 3 close higher than Day 1 though it wasn't clear if that's what miketranz intended with "Stock reverses higher"

Fetcher[
CHART-TIME 2 MONTHS

NOT OTCBB

VOLUME > 100000

Show stocks where
close reached a new 52 week high 2 days ago
close 1 day ago < close 2 days ago
close > close 2 days ago
]



Cheese
1,374 posts
msg #153544
Ignore Cheese
8/13/2020 11:42:24 AM

xarlor,

I went back 1 more day so that because today is not finished yet
so results may be distorted

I am not sure if mike wants close new 52 week high or high new 52 week high
and day 3 is higher than day 1 or day 2

But my filter did show MCRB

Fetcher[

CHART-TIME 2 MONTHS

NOT OTCBB

VOLUME > 1000000

Show stocks where
close reached a new 52 week high 3 days ago
close 2 days ago < close 1 day ago
close 1 day ago > close 2 days ago
]




Cheese
1,374 posts
msg #153545
Ignore Cheese
8/13/2020 12:07:37 PM

@miketranz & @xarlor,

For non-options long only still-learning traders/investors,
how should we trade mike's idea (not just MCRB)?

Thanks.

miketranz
956 posts
msg #153546
Ignore miketranz
8/13/2020 12:56:18 PM

I'll try to clarify.Day 3 close must be at or above day 2 high.Also,a 2 month high instead of a 52 week high may also produce more set ups.I have a feeling that these set ups are rather rare.However,when they occur,they can be very profitable.Thanks for your help.Mike...

xarlor
561 posts
msg #153549
Ignore xarlor
8/13/2020 1:50:52 PM

miketranz, in that case this is what you're looking for. Plenty of setups with 52-week high. Too many for my liking.

My original filter did not require a new 52-week high, it only required that the close was higher than the close of the day it reached a new 52-week high. A small but important differentiation. The original filter returned less results, but I believe more targeted toward a trend continuation.

Cheese, as for how to trade this, I don't know what miketranz has in mind. If you want to swing trade, a trailing stop seems the most reasonable. Alternatively, sell when daily close crossed below wma(10).

Fetcher[
/* Enter long at close */
CHART-TIME 2 MONTHS

NOT OTCBB

VOLUME > 100000

Show stocks where
close reached a new 52 week high 2 days ago
close 1 day ago < close 2 days ago
close > close 1 day ago
]



Cheese
1,374 posts
msg #153552
Ignore Cheese
8/13/2020 2:34:22 PM

Thank you, xarlor

miketranz
956 posts
msg #153554
Ignore miketranz
8/13/2020 3:28:43 PM

Swing trade 1-3 day hold.Take what the market gives.Filter looks good to me.Thank you both.Miketranz...

Cheese
1,374 posts
msg #153556
Ignore Cheese
8/13/2020 3:45:31 PM

ok, thanks, mike !

StockFetcher Forums · Filter Exchange · NEW HIGHS REVERSAL KNOCK OUT FILTER<< >>Post Follow-up

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