JoeyVinyl
125 posts
msg #150196
- Ignore JoeyVinyl |
1/8/2020 11:12:37 PM
Just yesterday I read about the Abandoned Baby candlestick pattern. I tried the one SF offers but it didn't seem quite right so I wrote my own. It doesn't specify anything for the most recent day because that's where I expect to see conformation or not in whatever chart comes up.
So why is it frustrating? It's because I tested each line by itself, and each part of the filter, to see if they gave me the results I wanted. They all seemed to work - separately. Put them together and I get nothing. Zip. Zilch. Nada. I did a custom date offset of 40 days, basically two months of trading days (more or less) and every day came up with zero results. I wrote it for bullish patterns but also reversed the aboves and belows to see if it worked for bearish patterns. I did get one result (DRRX, chart date 1/8/20), so I'm pretty sure it's not the filter. I'm just not getting results because the filter is too strict, for lack of a better word. I'll have to keep playing with it I guess.
Anyway, if someone wants an Abandoned Baby filter and feels like tweaking this one, here you go.
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compound_gains
221 posts
msg #150200
- Ignore compound_gains |
1/9/2020 9:25:58 AM
Your filter is too restrictive and it looks like your down candle condition is the biggest choking point.
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JoeyVinyl
125 posts
msg #150201
- Ignore JoeyVinyl |
1/9/2020 10:03:23 AM
I think it's too restrictive as well, and I've tried changing to a smaller percentage and still not getting results. I've done some more reading this morning and I think the problem isn't the down candle part but that I'm looking for a doji that gaps below the low rather than the close of the previous candle, and the low rather than the open of the following candle. I'm guessing that it's fairly rare to find a doji that meets those conditions (or gaps up if you're looking for a bearish pattern). I'm going to tweak that first and see what happens.
I do appreciate the input, and maybe I'm missing it, but I don't see your filter looking for an upcandle after the doji.
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compound_gains
221 posts
msg #150203
- Ignore compound_gains |
1/9/2020 10:26:44 AM
It is not a fix. All my filter does is show you the hits for each condition set and highlights that your down candle condition very rarely hits, which means that your requirement for all three conditions to hit will very rarely be met.
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JoeyVinyl
125 posts
msg #150213
- Ignore JoeyVinyl |
1/9/2020 4:30:30 PM
Yeah, I can see that it's going to be rare. I tweaked it a little and got one result for today, but today's candle didn't continue an uptrend (which is what I'm looking for) so that one won't get my money. It's not the only strategy I'm using, but I like trying different things. If it shows me a result that I like I'll paper trade it for a while. Here's the final version.
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