Registered User
Joined: 11/29/2004
Posts: 2
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I follow IBD. Cup with handle formations perform very well. Has anyone with Worden come up with formula that will show pivot point at which to buy after handle has been formed? Would love to hear from you on this. Thanks, Gary Hurlbut
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Over what time period are you looking for the Cup and Handle to form?
- Craig
Here to Help!
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Registered User
Joined: 11/29/2004
Posts: 2
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QUOTE (Craig_S) Over what time period are you looking for the Cup and Handle to form? 6 months preferably, but minimum of 120 days- look forward to hearing from you
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Let me play with a few ideas and get back to you. I should have something in the next day or so.
- Craig
Here to Help!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Here is a loose structure of PCFs to play with. They focus on the price today being near the price 5 or 6 months ago while having a deep low between these times.
Build an EasyScan and add all the conditions you require of a stock to be tradeable (price per share, etc).
Add this PCF:
MAXC10/MAXC10.105*100
You will want to use VALUE on the range selector and set it to values close to 100 (say 98 to 102)
Then add this PCF:
MAXH115/MINL115
The larger the value this returns, the farther the lows are from the highs over the last 5 months. Choose RANK in EasyScan and set it to a very high number.
Play with the range selectors on these conditions until you get a reasonable number of stocks. Next week I will produce a video that will reveal an even more in-depth method. I need to work on it a bit more but hopefully this will tide you over until then.
- Craig
Here to Help!
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Registered User
Joined: 12/3/2004
Posts: 8
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Thanks Craig, I am looking forward to see your video. Are you going to post it here ?
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I will post it in the Video forum but will notify you of the posting here.
- Craig
Here to Help!
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Registered User
Joined: 2/9/2005
Posts: 2
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Craig, I am a new user of your product. I do quite a bit of day-trading and look for "cup-with-handle" and "ascending triange" formations of large, low volatility stocks, for end-of-the-day moves. Can your software recognize these technical formations on a daily, short-term basis. Ron
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Do you mean within the market day?
- Craig
Here to Help!
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Registered User
Joined: 2/9/2005
Posts: 2
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Craig, Yes, I look for for stocks intra-day, for in & out trading during the period of a single day. As an example, I usually enter a position about 2-2:30pm EST and exit before 4pm EST. My research starts mid-morning to find large, low volatility stocks with the most promising end-of-day set-ups (ie. cup-with-handles and ascending triangles). On most days, I can book consistent profis of 1/2 to 1 %, without overnight risk. It is amazing how much these intra-day charts resemble longer term charts, and yet have the same trading characteristics. Your help will be much appreciated. Ron Lawrence
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Right now looking for patterns like you mentioned on an intraday basis is not possible beyond scanning a list visually.
- Craig
Here to Help!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I still am working on a flexible method for scanning for this pattern. I've not forgotten... promise!
- Craig
Here to Help!
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Registered User
Joined: 12/7/2004
Posts: 18
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Craig, Did you ever create the video you mentioned in this subject? I'd like to see it.
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Registered User
Joined: 10/7/2004
Posts: 5
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Craig, where can i view the video you promised
Many thanks
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I was never able to make a method superior, in my mind, to the PCFs I offered at the start of this thread. As a result, I never made a video.
This type of pattern is so intricate and time-frame depentant that a loose formula based search was not realistic.
Your eyes are going to be the superior scanning tool for this formation. Use the PCFs I offer above to limit the list to a reasonable number of stocks then use your eyes and the spacebar to isolate out the pattern.
- Craig
Here to Help!
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Registered User
Joined: 2/28/2005
Posts: 825
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May I ask, what I would change to widen the scan for potential cups to perhaps a year to 1 1/2 or further? I'm not sure I see where you are setting your parameters for 5 months in your formulas.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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For a year (250 trading days)
Instead of:
MAXC10/MAXC10.105*100
Use
100*MAXC10/MAXC10.240
You will want to use VALUE on the range selector and set it to values close to 100 (say 98 to 102)
Instead of:
MAXH115/MINL115
Use:
MAXH250/MINL250
The larger the value this returns, the farther the lows are from the highs over the last 12 months. Choose RANK in EasyScan and set it to a very high number.
- Craig
Here to Help!
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Registered User
Joined: 10/7/2004
Posts: 26
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Hi Craig, How do I shorten the handle for cup and handle? I get good results but would like to see the cup in april instead of march. Thank you, EMAIL REMOVED
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Registered User
Joined: 10/7/2004
Posts: 26
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How can I shorten the handle for this cup and handle pcf: Add this PCF:
MAXC10/MAXC10.105*100
Then add this PCF:
MAXH115/MINL115
Thank you, EMAIL REMOVED
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Worden Trainer
Joined: 7/11/2006
Posts: 332
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john263,
Your post has been answered here.
Tal_E
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Registered User
Joined: 4/18/2011
Posts: 2
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Please post the Cup and Handle formation complete formula for Daily chart.
Thanks
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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There isn't a single formula to identify a cup and handle on a daily chart.
The reason there are so many different formulas explored above is that you need to alter the formulas depending on the span in bars over which the cup and handle happens.
There isn't a good way to create a single formula which can identify cup and handle patterns over varying numbers of bars.
-Bruce
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