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Joined: 9/30/2011
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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
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Registered User
Joined: 9/30/2011
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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
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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
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