srinisu
22 posts
msg #83030
- Ignore srinisu |
11/13/2009 6:32:27 PM
Read an interesting article on the Hikkake pattern. Those interested can read it here.
http://www.chesler.us/resources/articles/chesler0404.pdf
Seems rather easy to code, yet I'm struggling with it.
1) Hikkake Reversal or Continuation Pattern.
a) Find an inside day (lower low and lower high than previous day)
b1) Bearish setup: The following day, a breakout from an inside day (higher higher and a higher low)
b2) Bullish setup: The following day, a breakdown from an inside day (lower high and a lower low)
Verification of the contratrend move is confirmed WITHIN 3 days of the breakout.
c1) Bearish setup: A close below the inside day low
c2) Bullish setup: A close above the high of the inside day high
That's it. Reading the article will make things clearer.
2) Hikkake Trend Reversal Pattern
a) Find an inside day (lower low and lower high than previous day)
b1) Bearish setup: Day prior to the inside day must close at the top of its day range and its range must be less than its previous day's range.
b2) Bullish setup: Day prior to the outside day must close near the bottom of its day range and its range must be less than its previous day's range.
Thanks in advance to the ultimate coders. Hope you find some use for these indicators. The simplest of indicators are often the best!
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chetron
2,817 posts
msg #83035
- Ignore chetron
modified |
11/13/2009 8:08:39 PM
HOW ABOUT....
WITH ADX....
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srinisu
22 posts
msg #83058
- Ignore srinisu |
11/14/2009 12:08:40 PM
Chetron, I have to give it to you. You write code like loaded brush looking for a fresh canvas! Thank you!
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chetron
2,817 posts
msg #83059
- Ignore chetron |
11/14/2009 12:20:46 PM
YOU ARE VERY WELCOME
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watzdorf
21 posts
msg #83171
- Ignore watzdorf |
11/17/2009 5:40:39 AM
It seems one day too late this filter. Is there a way to have the actual results?
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chetron
2,817 posts
msg #83172
- Ignore chetron |
11/17/2009 6:37:44 AM
@watzdorf
if by late you mean you just want inside days then use Range Contraction/Expansion Filter, otherwise what?
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watzdorf
21 posts
msg #83174
- Ignore watzdorf |
11/17/2009 6:59:27 AM
The results I am getting are the inside day plus 2 days (bars), instead of only 1 day. However, that's how I understood the system by reading the pdf.
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watzdorf
21 posts
msg #83176
- Ignore watzdorf
modified |
11/17/2009 7:28:12 AM
Sorry I misunderstood one part. The filter is as intended :)
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duke56468
683 posts
msg #83185
- Ignore duke56468 |
11/17/2009 1:49:50 PM
Srinisu,
Thank you for bringing this to our attention, and Chetron thanks for the filter work. Much appreciated. Do they suggest an entry point slightly above (below) the inside day? Also in the b2 example is the "outside" day the day prior to the inside day?
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chetron
2,817 posts
msg #83187
- Ignore chetron |
11/17/2009 2:35:34 PM
NO, AN OUTSIDE BAR IS WHAT MAKES AN INSIDE BAR
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