5 day breakouts today: 18
That means 103 stocks (85%) went down after 4 days up.
Here is the code for 4 day breakout:
show stocks where price is above close from 1 day ago
and close 1 day ago is above close from 2 days ago
and close 2 days ago is above close from 3 days ago
and close 3 days ago is above close from 4 days ago
and price is between .3 and 10
There may be a more elegant way to program it, but that is what I figured out.
add a column for average day range and sort for the highest rangers. Then watch for red.
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5 comments:
Johnny, thanks, I was trying to figure out how to do this. An interesting little variation to avoid long, unpleasant waits with no air conditioning for red is to replace "above" with "below" in the first line.
well the point is to find ripe shorts that are overextended and have high day range... but yes many can be found showing red floaters etc waiting to drop i.e.e IDMI kind
Nice filter. I added it to my filter list
Johnny,
The answer may be obvious, but I was wondering if we know for certain whether Stockfetcher includes days when the market is closed in its scans. If so, that would throw off the results. I couldn't find it in the help archives.
nick,
SF uses only trading day info.. so 4 days up on Tues would be Th/Fri/Mon/Tu
I don't know if that is what you mean... don't worry about weekends
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