Registered User Joined: 9/30/2011 Posts: 788
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Thank you and goodbye. raider45
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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I actually don't get any results when I click through that link, but I did do in internet search for the Gillagan's Island pattern.
For a potential pattern for the current day you would want the a gap down at the opne below the two month low with price at or above the open and in the top half of the candle.
L < H AND O <= C AND H + L <= 2 * C AND O < MINL42.1
The confirmation on the following trading day requires all of this plus the price being at least 1/8 above the high of the bar with the potential pattern.
H1 + 1 / 8 <= C AND L1 < H1 AND O1 <= C1 AND H1 + L1 <= 2 * C AND O1 < MINL42.2
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 9/30/2011 Posts: 788
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On all markets the second formula generates no signal !
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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It should be a pretty uncommon signal.
The potential pattern requires a gap down on open below the low of the entire previous two months. So there is significant downward pressure on pricing at this point. This is fairly rare on its own.
Then on the following trading day, it requires the current price to be at least US$0.125 above the high of that bar. So after significant downward pressure on the previous trading day, there needs to be significunt upward price movement on the current day.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 9/30/2011 Posts: 788
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Thank you ! Sincerely !
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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You're welcome.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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