freedom_trader777
7 posts
msg #149298
- Ignore freedom_trader777 |
10/6/2019 7:04:04 PM
Hey everyone,
I'm trying to write a screen that finds stocks that came within 3% of a Fib-level, previous day close, then pulled back.
Can someone help out me with the phrasing if it's possible?
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xarlor
581 posts
msg #149299
- Ignore xarlor
modified |
10/6/2019 9:26:39 PM
Not exactly what you asked for, but I made a filter that shows a bounce off a 52-week Fibonacci line.
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ron22
255 posts
msg #149307
- Ignore ron22 |
10/7/2019 11:40:49 AM
xarlor, Great filter. What do you recommend for entry trigger and exit trigger? Thanks a lot.
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sandjco
648 posts
msg #149308
- Ignore sandjco |
10/7/2019 12:19:06 PM
I think SF has FIB as well...
for sure, I have zero coding skills...so, pardon the suggestion. Maybe it helps.
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xarlor
581 posts
msg #149309
- Ignore xarlor |
10/7/2019 2:38:36 PM
@ron22
Rules are pretty mechanical:
Enter at the close.
Initial stop loss set 0.06 below the Fib line it just bounced off of.
Profit target is next Fib line above. Note this is also your next resistance point, so may have to exit and take profits if it looks like it's bouncing off without clearing.
If you're feeling frisky, you can let a winner run beyond that Fib line and try for the next Fib line.
I haven't backtested it. Maybe something for nibor to do during Monday Night Football? :D
@sandjco
I did see the SF Fibonacci filters, but they were too vague/loose for my likes. It's a good starting point, like all the indicators on SF, but I needed something more granular.
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sandjco
648 posts
msg #149311
- Ignore sandjco |
10/7/2019 3:12:26 PM
@xarlor
no worries; guys like you who can code SF well are gems for the community!
hope you didn't take my comment the wrong way.
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Cheese
1,374 posts
msg #149312
- Ignore Cheese |
10/7/2019 4:41:11 PM
xarlor and everyone,
Since you guys are pretty good at this stuff,
any suggestions to better guess bull traps, bear traps, head fakes,
to get to safer entries and exits?
Thanks,
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ron22
255 posts
msg #149315
- Ignore ron22 |
10/7/2019 11:10:12 PM
xarlor, Thank you for the filter and for the trigger ideas. ron
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nibor100
1,031 posts
msg #149675
- Ignore nibor100 |
11/24/2019 1:54:48 PM
@xarlor,
In my efforts to make your Fibonacci screener filter backtest I've had to do some changes to your filter to remove complexity so the my backtest will execute.
One of your filter lines that is causing complexity issues is the following:
close 1 day ago < close 2 days ago for last 3 days
When I try to simplify it to the following 3 lines:
close 1 day ago < close 2 days ago
close 2 days ago < close 3 days ago
close 3 days ago < close 4 days ago
I get slightly different results, a few more hits with my simplified 3 line version but missing some of the results from your original version, yet looking at the graphs all stocks returned by either version seem to meet the criteria.
Here is my test filter:
Any ideas?
Ed S.
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xarlor
581 posts
msg #149676
- Ignore xarlor |
11/24/2019 5:44:54 PM
@nibor, it appears to be some wonkiness with SF. Most of the extra tickers your filter displays have candle bodies of less than 0.01. Most of these are obviously penny and micro stocks, but not all of them. In this sense your filter is more accurate than mine.
Still if you want to match my filter as closely as possible, you can eliminate these. It still does not mirror the filters perfectly but it's a lot closer. Plus, it gets rid of micro stocks too.
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