haskellb2006
22 posts
msg #66731
- Ignore haskellb2006 |
8/28/2008 12:48:54 AM
well perfect W for me is when the second leg is a retrace of about 70 percent... so a W with the right bottom higher than the left bottom ...
So that rules out a true double bottom.....I have tried the DB filter and frankly I didnt care for it....plus W patterns occur all the time IE: uptrending and downtrending .......
if I were to add anything else, it would be the length of time between the bottom points, like for example 15 days...something like that...
HB
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haskellb2006
22 posts
msg #66732
- Ignore haskellb2006 |
8/28/2008 1:02:51 AM
I guess another way to think of the W is a simple ABC pattern, with the 'C' identified at a preset level of retracement like
50% or .618 or .707
That would be a really cool way to locate potential W's and then do a visual scan of the list.
The whole concept has been done in other charting program indicators , like Presavento Gartley patterns ect.
I just have not found a way to scan for them.
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FuriousThug
256 posts
msg #66734
- Ignore FuriousThug |
8/28/2008 2:11:46 AM
So, right bottom higher than left bottom narrows it down a bit...
W4 & W5 are equivalent to narrowing triangles.
W9 & W10 (as well as W13 and W15) are all H&S variations
W14 and W16 are basically uptrends with higher highs.
I think eyeballs might still be the best filtering mechanic for finding Ms and Ws...then again, I'm not one of the coding wizards here.
FT
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