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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

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.

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