jficquette
22 posts
msg #69943
- Ignore jficquette |
12/19/2008 12:55:56 PM
Hi,
I have a filter that I am trying to test using Fibonacci expansions rather then dollars. I would also settle for using percentages.
My filter is this which is irreverent really but I include it.
set{range1, high - low}
set{atr2x, atr(8)* 2}
show stocks where close above 40
and atr2x < range1
and average volume(65) is > 500000
and close is < open
Now, in the advanced area of the backtester I put in this entry.
"low one day ago minus 2" This gives me entry tomorrow as a long if a stock go's 2 dollars below todays low.
What I prefer is a way to test getting long if it price hits at an expansion of today's range.
So say use the entry for a long tomorrow if the price hits a fibonacci expansion 1.27, 1.414, 1.618 of today's range below today's range.
Also, if that is not viable then using a percentage would be helpful. So say, on todays candidates enter tomorrow if price hits x % below today low.
I also do this for shorts too, i.e days where they are up a lot and I want to get short a 1.414, say of today's range if price hits it tomorrow.
Can you help me out??
Thanks
John
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