For ADX > 25 and rising, you could do something like this in MS Explorer:
Column A: ADX(21)
Filter: ADX(21)>25 AND
ADX(21)>Ref(ADX(21),-1) AND
Ref(ADX(21),-1)>Ref(ADX(21),-2) AND
Ref(ADX(21),-2)>Ref(ADX(21),-3)
For ADX starting to move higher, you could try:
Column A: ADX(21)
Column B: Ref(ADX(21),-1)
Filter: ADX(21)>ADXR(21) AND Ref(ADX(21),-1)<=Ref(ADXR(21),-1)
Others -- maybe Paul or Richard -- might have some better ideas.
As for chart formations, they're difficult, of course. Cup & handle formations can encompass many different periods, so how could you formulate the pattern? I had some luck finding what I took to be cup & handle patterns by concentrating on the handle, where the range (high minus low) can narrow before a breakout. In a Quotes Plus scan, I looked for range narrowing each day:
if range(0)<range(-1) and
range(0)<range(-2) and
range(0)<range(-3) and
avgvol(0,-29)>25000 and
Vol(0)>MovAvg(0,63,vol) then
println Symbol , "," , " Close:", Close(0) , "," , " Vol:", vol(0) , " , " , " PE:", PE , " , " , " QRS:", QRS(0) , "," , " Sharesfloat:", Sharesfloat , "," , description;
endif;
I did find what I viewed as cup & handle formations, but my idea of a cup & handle was too inclusive. Richard pointed out that some of the charts I was finding didn't really show cup & handle formations, but irregular double bottoms and other things.
Maybe someone else can suggest a way to find cup & handle patterns.
Paul?
Brooke |
