Hi All,
Been busy with my day job so apologies if this is a bit late. This is what I’ve got for shorts:
//Find a stock/ currency pair that has reached a new 40 day low
c1 = low[4]=lowest[40](low)[4]
//The next three days should have higher closing prices i.e day 1 close higher than 40 day low; day two close higher than day 1 close etc
c2 = summation[3](close>close[1])[1]=3
//On the fourth day the closing price must close lower than the closing price on the third day and must close within the upper 20% of the daily trading range
c3 = close<close[1] and (close–low)/range>0.8
screener [c1 and c2 and c3]
Rules:
Short
Place an entry 0.03 pips/ ticks below the lowest price traded on day four, the day the instrument turned back around and traded to the downside. Place a stop loss 0.03 cents above the highest high reached on the third day, two days before your entry, the pivot high point.
Long
Place an entry 0.03 pips/ ticks above the highest price traded on day four, the day the instrument traded to the upside. Place a stop loss 0.03 cents below the lowest low reached on the third day, two days before your entry, the pivot low point.
Hope that’s of use.
Niall01