StockFetcher Forums · General Discussion · Need help with a Resistance Line filter.<< >>Post Follow-up
nkhaladkar
4 posts
msg #152285
Ignore nkhaladkar
5/22/2020 5:32:57 PM

Hi,

I need help with a filter I wrote below. The purpose of this filter is to identify stocks that have broken out of a downward sloping resistance line in a last few days, but are not too far above the resistance line. It seems to work OK, but I am not seeing certain stocks that meet this criteria. For example, on May 18th Boeing (BA) broke out of a short term downward sloping resistance line, but for some reason I am not able to capture it with my filter:

show stocks where close crossed above resistance(45,15,1) in last 5 days
and close is less than 7% above resistance(45,15,1)

and close is above resistance(45,15,1)

and resistance slope(45,15,1) is below 0
and volume is above 500000
and close is above 10.00
and draw MA(50)
and draw MA (200)

Any help you can provide me is greatly appreciated.
Thanks,
Nick.

Cheese
1,374 posts
msg #152289
Ignore Cheese
5/23/2020 2:39:49 PM

maybe

Fetcher[

DJIA
CHART-TIME 5 MONTHS

show stocks where close crossed above resistance(30,15,1) in last 5 days
and close is less than 7% above resistance(30,15,1)

and close is above resistance(30,15,1)

and resistance slope(30,15,1) is below 0

date offset 5/18/2020

]



snappyfrog
651 posts
msg #152297
Ignore snappyfrog
modified
5/23/2020 8:10:48 PM

Thanks Cheese. I added my own twists and seem to get much better results with penny stocks (0.10 - $3.00).

Fetcher[
market is not otcbb
market is not etf
price is between .1 and 3
Average Volume(30) > 100000

show stocks where close crossed above resistance(30,15,1) in last 5 days
and close is less than 7% above resistance(30,15,1)

and close is above resistance(30,15,1)

and resistance slope(30,15,1) is below 0

draw OBV
draw Slow Stochastics Fast %K(10) < 50
and Slow Stochastics Fast %K(10) > Slow Stochastics Slow %D(10)
draw pvi 22 day low on plot pvi
set{pvi_22, count (pvi > pvi 22 day low, 1)}
and draw pvi_22 > .99

]



Cheese
1,374 posts
msg #152299
Ignore Cheese
5/23/2020 9:35:16 PM

Thanks, snappy.
I am not into pennies or options, but I am curious: Are you trading pennies using options?

snappyfrog
651 posts
msg #152300
Ignore snappyfrog
modified
5/23/2020 9:45:09 PM

No Cheese. I will drop some money on pennies if the setup looks right, but not using options.

nkhaladkar
4 posts
msg #152303
Ignore nkhaladkar
5/24/2020 2:51:07 AM

Thank you very much for your responses. Happy trading!

snappyfrog
651 posts
msg #152305
Ignore snappyfrog
5/24/2020 9:01:18 AM

Is there a way to use this "resistance line" on another indicator, say the RSI? Just thinking out loud.

Cheese
1,374 posts
msg #152307
Ignore Cheese
5/24/2020 10:56:15 AM

snappyfrog 5/24/2020 9:01:18 AM
Is there a way to use this "resistance line" on another indicator, say the RSI? Just thinking out loud.
=============================================================================

Would you consider this as resistance

Fetcher[
SYMLIST(BA,SPY,DIA)
draw rsi(7) 7 day high
]



snappyfrog
651 posts
msg #152312
Ignore snappyfrog
5/24/2020 11:13:34 PM

That is not quite what I envisioned, but thanks. I guess it would be more of a trend line, such as finding divergence between price an the RSI or another indicator / oscillator.

StockFetcher Forums · General Discussion · Need help with a Resistance Line filter.<< >>Post Follow-up

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