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What are your favorite/preferred patterns

 
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Snake



Joined: 06 Apr 2005
Posts: 223

PostPosted: Thu Mar 23, 2006 12:47 am    Post subject: What are your favorite/preferred patterns Reply with quote

I generally like the morningstar and eveningstar patterns combined with overbought/oversold stochastics conditions. As an added benefit occurring on a moving average.

I haven't really had much success with engulfing patterns and kickers are hit and miss to me--I think they just scare me a bit too much.

Anyway, I'm curious as to what everyone considers their top 3 indicators for entering positions.

Cheers.
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candlestick1
Site Admin


Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Tue Mar 28, 2006 11:32 am    Post subject: kicker signal Reply with quote

The kicker signal is the strongest signal. It should always be analyzed. Usually the event/news that creates a kicker signal will be in investor minds for the next two weeks
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mjlewis



Joined: 10 Jan 2006
Posts: 42

PostPosted: Thu Mar 30, 2006 11:07 pm    Post subject: Reply with quote

I also had a lot of good fortune using the kicker signal. I've also been trying to experiment with the J-Hook pattern, but have been having a rough time of it trying to get a scan programmed in Stockcharts.

Would anyone be willing to divulge a scan that they use to find j-hook candidates?
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Bluto



Joined: 26 Nov 2005
Posts: 146
Location: Va. Beach, VA

PostPosted: Fri Mar 31, 2006 12:46 am    Post subject: Reply with quote

mjlewis wrote:
I also had a lot of good fortune using the kicker signal. I've also been trying to experiment with the J-Hook pattern, but have been having a rough time of it trying to get a scan programmed in Stockcharts.

Would anyone be willing to divulge a scan that they use to find j-hook candidates?


J-Hooks can be tricky to find with hard scan criteria. What you need to do is scan for hammers appearing after a minor pullback where the stochastics aren't in an oversold status. You'll have to then look at charts to pick them out. Look for stochastics flattening out above the oversold area as if preparing to make a turn. I use Telechart, so here's the formula for the basic hammer scan that should get you some charts to review. I don't use Stockcharts, so you'll have to translate:

C>10 AND C<35 (price range filter)
V>1000 (volume filter; 100,000)

(((H-L)>3*(O-C)) AND ((C-L)/(.001+H-L)>0.6
AND ((O-L)/(.001+H-L)>0.6)) (hammer filter)

Good luck. Wink
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