New version 18 available now


Download software Tutorial videos
Subscription & data-feed pricing Class schedule


New account application Trading resources
Margin rates Stock & option commissions

Welcome Guest, please sign in to participate in a discussion. Search | Active Topics |

bottoming tail 15minute Rate this Topic:
Previous Topic · Next Topic Watch this topic · Print this topic ·
gapupstocks
Posted : Tuesday, November 06, 2018 9:43:21 PM
Registered User
Joined: 11/18/2015
Posts: 3

hi. how could i find a 15minute bottoming tail. need the formula please. exampled for today would be INST, TRMB, FWONK, CTLT. if you notice, i would like the 15min bottoming tail from a downtrend. so the previous 1 or 2 or 3 candles before the 15min bottoming tail have to be red. thanks

Bruce_L
Posted : Wednesday, November 07, 2018 9:38:17 AM


Worden Trainer

Joined: 10/7/2004
Posts: 64,136

Can you point out which bars you consider bottoming tails on those charts? Some are pretty close to what I would consider a bottoming tail, but some of the symbols don't have any bars yesterday which would seem to me to be long enough.

Normally I would check for candle to have a bottom tail of maybe more than 70% of the candle and to have cleared the previous 4 bars or so. If we add that the previous candle has to have the close below the open, we get the following.

C1 < O1 AND 10 * LEAST(O, C) > 7 * H + 3 * L AND L < MINL4.1

If we then wait for the next bar to make sure the bottoming tail bar extends beyond the surrounding bars, we would get the following.

L > L1 AND C2 < O2 AND 10 * LEAST(O1, C1) > 7 * H1 + 3 * L1 AND L1 < MINL4.2

But neither of these ends up being true yesterday for all of your symbols in a 15-minute time frame.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
Users browsing this topic
Guest-1

Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.