3 Bars LONG

3 Bars LONG

This simple screener is searching for a daily pattern with 3 candles (short pullback during an uptrend).

Main conditions

  • Trend: uptrend with rising SMA200 & close > SMA200
  • Liquidity: volume > 15 000 stocks/daily
  • No penny stock: close > 0.3€

Pattern conditions

  • Low of middle candle < lows of previous and last candle
  • Last close > high of middle candle

Go long when price breakout above high of  candle before middle candle (ie candle 2 days ago)

Tip: add a stochastic in OS condition or < 50 to get better results.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Maxime Csls • 04/06/2021 #

    Hello Vinks_o_7 Thank You for your work. I am working on a different candle setup. Your work could give good results. Do you have a strategy related to this screener? (StopLost / R/R)

  2. Vinks_o_7 • 04/06/2021 #

    Hi Maxime
    This is a momentum strategy that I use for swing trading (couple of day, weeks).
    stop: I use a classical trailing stop base on volatility (1.2/1.5 daily ATR)
    The code can be improved (live scan in lieu of Friday style scan…)

  3. haimpinto • 16 days ago #

    Thank you for the code
    How can I use it for a short trend?

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