Well we got the bounce, as expected. I’m still not convinced that the 50 day will hold, but today’s surge, on volume, was a strong response to yesterday’s wilting.
The latest high tight flags are below…
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Thanks Wood ! So what will make you convince we go higher, close above 20day ?
That would help!
Couple of questions:
1. Do you have an Amibroker scan that you are using to find the high tight flags?
2. have you ever tried coding rules to trade that setup mechanically? e.g., for any stock that has an identified HTF, buy once the price breaks above a defined level, etc.?
I looked around a bit to see if you’ve posted on that previously, but didn’t find anything.
1. Yes.
2. Yes.
The problem is that the coding is beyond my capabilities. It is actually rather complicated to run the backtest correctly on these. I can find them, and I have code that will trade them, but it is not quite correct in how it handles all the entire operation of finding, watching for a breakout or breakdown, then buying.
You could try site like rentacoder or elance or odesk and probably hire a coder for pretty cheap to do it.
If you’re curious about price just search those sites for similar jobs. My guess is you could find it quite cheap.