After reading Hattery’s piece in the Peanut Gallery, I was reminded of some recent requests to work on a High Tight Flag scan. I followed a link provided in Hattery’s piece to this site, which has some great information about the pattern and some possible ways to trade it.
Using Bulkowski’s research and pattern specifics, I began to work on some code to identify High Tight Flags.
The code will require some more work in order to find HTFs that are near perfect, and then I’ll need to add more code to be able to backtest a system to test the pattern. Right now it is a work-in-progress.
Here are the two stocks the HTF code has identified tonight.
Note that COOL has already broken out from two HTFs this year.
VRUS is less than .20 cents from breaking out from a HTF.
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