Ken, I posed the chartscript question in the WLP discussion forum. What I am trying to get to is a chartscript that would do a multi-stock scan looking for the Magic Box setup.
Here is how I asked the question, please let me know if I got something wrong.
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This uses a one-year daily chart.
It only looks for an entry point.
Indicator settings are:
Bollinger Bands (20,2)
Aroon(8)
Wm%R(9)
It's basically a two-day pattern with a "wait" step for confirmation.
What kicks it off is:
Day 1: a close with a red candle on or near the lower Bollinger Band, and at the same time the Aroon Down sitting at 100 on the indicator.
Day 2: a close with a white candle, and the Aroon Down drops to 87.50.
That sets the stage, THEN:
Day 3 (or possibly a few days later) the Aroon Down comes to the 75.00 and Wm%R crosses the -50% (heading towards 0)
THAT is the buy.
HGR is a good example of this, with June 7th, 8th and 9th setting the stage, then it took until June 13th to confirm with the Wm%R coming through the 50.
So, do you think it would it be possible to create a chartscript that could do a multi-scan on a watch list that would look for this setup?
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regards,
jonesie
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
