StockFetcher Forums · General Discussion · Three-bar Play (3BP)<< >>Post Follow-up
lemmy
12 posts
msg #156787
Ignore lemmy
5/11/2021 9:03:47 PM

Greetings,
I am trying to come up with a scan of the 3BP, attributed to Jared Wesley at Livetraders dot com.
I could not find anything on the various fora, so please allow me to provide the parameters here. Any assistance would be much appreciated:

(1) Day #1: A large candlestick/bar which should be twice the size of a stock's average daily bar and ideally close at the high of the day (little to no wick/tail)

(2) Increased volume desired but not required.

(3) Day #2: The entire bar (high & low included) must be within the top 40% of Day 1's bar and have a relatively equal high as Day 1's bar.

The inverse will also work for short positions, and it is valid on all time frames.

Thanks!



nibor100
1,031 posts
msg #156792
Ignore nibor100
5/12/2021 5:25:50 PM

This might be close to what you want as I did not know how long the average should run.
I did nothing with volume.

Ed S.

Fetcher[
close 2 days ago is equal to high 2 days ago
set{var1, 2 * average day point range(10)}
day point range 2 days ago is equal to var1
high 1 day ago is equal to high 2 days ago
high 1 day ago is above Day Position(.60) 2 days ago
]



lemmy
12 posts
msg #156793
Ignore lemmy
5/12/2021 9:42:06 PM

Thanks, Ed. It might be tough to get any hits on the long side in light of the current market action.

I suppose the average trading range would ideally be for the life of the stock, but I should think going back 6-12 months would suffice.

Just so I don't get some stock that has little volume, I arbitrarily thought volume over 500000 shares and a price range of $5-15 would suffice.

I am thinking that finding exact matches of Day #1's and 2's equal closes might be unrealistic, even if it's a penny or two off. Maybe something like Day 2's close is within 98-102% of Day 1's close.

The Day #2 low may not exceed 40% of Day #1's candle. Should the line "high 1 day ago is above Day Position(.60) 2 days ago" need to say "low 1 day ago is...."

Definitely a start....appreciate the help!





mahkoh
1,065 posts
msg #156828
Ignore mahkoh
5/18/2021 8:04:32 PM

Fetcher[
close 1 day ago is above day postition(.90) 1 days ago
set{var1, 2 * average day point range(10) 1 days ago}
day point range 1 days ago is above var1
high below high 1 day ago
close above Day Position(.85) 1 day ago
day point range below var1
price above 5
average volume(90) above 500000
]



lemmy
12 posts
msg #157075
Ignore lemmy
6/24/2021 1:07:14 PM

Thank you!

redversa721
157 posts
msg #157076
Ignore redversa721
6/25/2021 10:21:46 AM

Modified from Nibor to get more hits

Fetcher[
Average Volume(30) > 100000
close > 0.5
set{2dh,high 2 days ago}
set{2dv, 2dh * .99}
close 2 days ago > 2dv
set{var1, 2 * average day point range(10)}
set{var2, var1 * 0.995}
day point range 2 days ago is >= var2
high 1 day ago is equal to high 2 days ago
high 1 day ago is above Day Position(.60) 2 days ago
]



lemmy
12 posts
msg #157080
Ignore lemmy
6/26/2021 10:36:32 AM

@ mahkoh - Just a note that in first line of code, "position" is misspelled...fixed on my end. Thanks again...very helpful!

StockFetcher Forums · General Discussion · Three-bar Play (3BP)<< >>Post Follow-up

*** Disclaimer *** StockFetcher.com does not endorse or suggest any of the securities which are returned in any of the searches or filters. They are provided purely for informational and research purposes. StockFetcher.com does not recommend particular securities. StockFetcher.com, Vestyl Software, L.L.C. and involved content providers shall not be liable for any errors or delays in the content, or for any actions taken based on the content.


Copyright 2022 - Vestyl Software L.L.C.Terms of Service | License | Questions or comments? Contact Us
EOD Data sources: DDFPlus & CSI Data Quotes delayed during active market hours. Delay times are at least 15 mins for NASDAQ, 20 mins for NYSE and Amex. Delayed intraday data provided by DDFPlus


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.