lemmy
12 posts
msg #156787
- Ignore lemmy |
5/11/2021 9:03:47 PM
Greetings,
I am trying to come up with a scan of the 3BP, attributed to Jared Wesley at Livetraders dot com.
I could not find anything on the various fora, so please allow me to provide the parameters here. Any assistance would be much appreciated:
(1) Day #1: A large candlestick/bar which should be twice the size of a stock's average daily bar and ideally close at the high of the day (little to no wick/tail)
(2) Increased volume desired but not required.
(3) Day #2: The entire bar (high & low included) must be within the top 40% of Day 1's bar and have a relatively equal high as Day 1's bar.
The inverse will also work for short positions, and it is valid on all time frames.
Thanks!
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nibor100
1,044 posts
msg #156792
- Ignore nibor100 |
5/12/2021 5:25:50 PM
This might be close to what you want as I did not know how long the average should run.
I did nothing with volume.
Ed S.
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lemmy
12 posts
msg #156793
- Ignore lemmy |
5/12/2021 9:42:06 PM
Thanks, Ed. It might be tough to get any hits on the long side in light of the current market action.
I suppose the average trading range would ideally be for the life of the stock, but I should think going back 6-12 months would suffice.
Just so I don't get some stock that has little volume, I arbitrarily thought volume over 500000 shares and a price range of $5-15 would suffice.
I am thinking that finding exact matches of Day #1's and 2's equal closes might be unrealistic, even if it's a penny or two off. Maybe something like Day 2's close is within 98-102% of Day 1's close.
The Day #2 low may not exceed 40% of Day #1's candle. Should the line "high 1 day ago is above Day Position(.60) 2 days ago" need to say "low 1 day ago is...."
Definitely a start....appreciate the help!
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mahkoh
1,065 posts
msg #156828
- Ignore mahkoh |
5/18/2021 8:04:32 PM
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lemmy
12 posts
msg #157075
- Ignore lemmy |
6/24/2021 1:07:14 PM
Thank you!
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redversa721
157 posts
msg #157076
- Ignore redversa721 |
6/25/2021 10:21:46 AM
Modified from Nibor to get more hits
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lemmy
12 posts
msg #157080
- Ignore lemmy |
6/26/2021 10:36:32 AM
@ mahkoh - Just a note that in first line of code, "position" is misspelled...fixed on my end. Thanks again...very helpful!
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