StockFetcher Forums · Filter Exchange · Double Bottom search<< >>Post Follow-up
BoCap
18 posts
msg #142156
Ignore BoCap
2/12/2018 11:31:01 AM

Hello, i'm looking for a filter that can scan a double bottom stock with the second low is HIGHER than first low, and the stock is starting to form the second leg.
Basically it's a reversal stock , and i'm trying to catch the earliest moment of that reversal. Thanks for all the help.


pthomas215
1,251 posts
msg #142161
Ignore pthomas215
modified
2/12/2018 3:38:29 PM

Ive been playing with a ton of stuff. cant seem to help you much but this might be a start..

Fetcher[ pattern is incomplete double-bottom
close > 2
Average Volume(30) > 1000000
close > close 1 day ago
]



BoCap
18 posts
msg #142170
Ignore BoCap
modified
2/13/2018 1:13:15 AM

.....x
x.......x
...........x
..............x
................x.................x
...................x.............x....x
......................x......x.........x...x
........................x...x............x
...........................x

this is basically what i'm looking for in a pattern, as you see, the two tops, the second top is LOWER than the first top.. and the second bottom is HIGHER than the 1st bottom. and the stock is on reversal with the second leg is uptrend and forming the W .

dtatu
102 posts
msg #142199
Ignore dtatu
modified
2/13/2018 6:49:00 PM

From my humble, but Long experience in TA, I think this double bottom is less reliable than a bottom in which , the latest Low is Lower than the Previous Low; Then , One buys Above the last Swing Low, hoping to catch a New trend. This kind of formation signifies than the market had a Last, washout bottom, then it s turning Higher, especially if on an unusually high Volume.
Your Double bottom, with a Higher second low, is more of a Bull-Trap, which leads to a ABC correction, before turning Again down , for the final Washout bottom.
Actually, if somebody could code my variant, that would be very appreciated



BoCap
18 posts
msg #142205
Ignore BoCap
2/14/2018 12:34:06 AM

@DTatu , with the Double bottom you mentioned, its well known and seems like it's the most reliable and ideal pattern which you should buy as stock crosses 10 cents above the second high.

The double bottom i had in mind is actually catching an earliest reversal trend and would give buyers and short run or even longer if it crossed the second TOP. . The way mine works is if i draw a trend line from the FIRST top to the SECOND top .. and as the stock is on the uptrend, I would buy it as it crosses above that trend line... and would give me a good short term runs...

Again this would based on my learning only... :)

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