StockFetcher Forums · Indicators and Measures · Double Bottom<< >>Post Follow-up
980 posts
msg #34481
12/23/2004 12:38:05 PM


Parameters None
Description This pattern detector attempts to discover stocks that are nearing or have recently completed a double-bottom. Below is an example screen using this new pattern:
Fetcher[show stocks where pattern is double-bottom and price is above 3]

Please note the - (hyphen) in double-bottom, that is required to produce the correct results.

As background, to meet the requirements of this pattern, the following conditions must be met:

  • Stock is in a recent downtrend
  • Retracement of more than 10% of the low after the downtrend.
  • Return to within 3% of the lower resistance
  • Retest of the upper resistance
  • Increase of volume on the retest of upper resistance.

    Below is a chart demonstrating these qualifications:

    Please keep in mind this is a fairly specific implementation of the double-bottom and may yield very few results each day. Additionally, we will continue to analyze the results, so if you have any ideas or suggestions for this pattern, please don't hesitate to drop us a line!

    Incomplete double-bottom - A variation of the double-bottom filter, is the incomplete double-bottom. This shows stocks that have a potential for a double-bottom pattern.

    Fetcher[show stocks where pattern is incomplete double-bottom]

  • StockFetcher Forums · Indicators and Measures · Double Bottom<< >>Post Follow-up

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