nikoschopen
2,824 posts
msg #37876
- Ignore nikoschopen |
9/8/2005 7:11:32 PM
**This happens to be a rehash from the general forum**
I'm trying to filter out a stock that breaks above (or below) a trendline. The basic idea is to connect two dots from the previous 2 month high (or whatever you choose as the time frame) and the current week's high. ONLY IF YOU CAN DRAW THE DAMN LINE like you can for support & resistance. For example, look at the following filter:
As you can see, I have given the two dots: the first as the 8-week high & the other as this weeks high. The price difference between the two must exceed 20%. Now if SF can allow us to draw a line between the two and find stocks that penetrate above or below the line, this filter would be satisfied.
|
TheRumpledOne
6,411 posts
msg #37882
- Ignore TheRumpledOne |
9/8/2005 11:05:44 PM
See this thread:
/* BREAKOUTS Punching through the top channel line */
|
nikoschopen
2,824 posts
msg #37888
- Ignore nikoschopen |
9/9/2005 4:07:58 AM
Rumpie, I don't see how the "slope of" expression can be substituted for a trendline. In an uptrend, the line is drawn from the lower low to the higher low. In a downtrend, the line is drawn from the higher high to the lower high. But the "slope of " line, on the other hand, seems to utilize the "median" approach. A sample chart given in the announcement forum (http://www.stockfetcher.com/stockdb/fetcher?p=forum⊂=view&fid=1004&tid=26934) illustrates my point. That's an uptrend for sure, but the line looks more like a median of a channel than an uptrend line. BTW, my idea of a trendline would work by using the "channel" filter (sort of, although that doesn't quite look right either). For instance, you can find an upside breakout with the following filter:
Again, not a perfect trendline. On another note, I wonder if you can some how tweak the slope line of the "slope of". Since it appears as a median anyway, what if you bring it down 50% or above 50%? Can this be done? More thouoghts required...
|
Aadd
5 posts
msg #153905
- Ignore Aadd |
9/3/2020 8:33:48 PM
It's better to add this condition to get better result.
RSI is crossed above 50
** Do you find how to draw line from high 8 week to high?
Thank you
|
Mactheriverrat
3,157 posts
msg #153906
- Ignore Mactheriverrat |
9/3/2020 10:36:57 PM
Draw high 8 week high
or try
Draw high 4 week high
|