mahkoh
1,065 posts
msg #105458
- Ignore mahkoh |
3/15/2012 6:16:41 PM
This filter shows stocks that in the past have tended to print weekly candles with long bottom tails.
Column occurence tells you how many times the tail was at least 50 % of the body during the last 100 weeks.
Column %drop tells you how much the stock is down since this week's open.
Be aware that the filter does not tell you where the bottom is.
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mahkoh
1,065 posts
msg #105605
- Ignore mahkoh |
3/22/2012 6:17:09 PM
Having another go at this; if the weekly candle is very small there's not a big achievement in printing a tail that is half the total candle. The filter below shows statistics where only candles are considered if the low is at least 4 % below the weekly open.
Column "total" tells you how many times the intraweek drop from open was at least 4 % in the last 50 weeks
"succeed" and "fail" how many times it subsequently recovered at least half of this drop, resulting in the "success rate" column by which the results are sorted.
Column "down" tells you how much the stock is, well, down at the moment for this week.
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novacane32000
331 posts
msg #105613
- Ignore novacane32000 |
3/22/2012 9:21:24 PM
Mahkoh
Trying to figure out how to trade this.
I ran the filter today and sorted by total -I see that TSL dropped 4% 45 times out of 50 from the weekly open which I assume to be Monday. Does that mean I have a 90% chance of making a 4% profit if I short TSL at the open Monday based on the historical movement of the past 50 weeks?
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mahkoh
1,065 posts
msg #105617
- Ignore mahkoh |
3/23/2012 2:35:25 AM
That is an interesting approach towards the filter. I guess you are right.
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