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I spent some time reading an older scan "Double Top / Double Bottom" (Dec 2014) where markd helped writing the scan but did so only for Double Tops. At the end of his response, markd wrote: "You could just turn everything around to see if you can get double bottoms.".
That's what I have been trying to do for 2 days now but the resulting stocks' patterns do not match what (I thought) they should look like.
Can anyone help? If markd comes across this here, what did you have in mind in choosing the K-31 & 63 for Price Channel? Do these two numbers have to do anything with the 10 and 20 days ago (I do understand that the time period is set for > 4 weeks = 20 trading days and the 10 days are just half of 20).
Much appreciated for any help!
Here is what I ran for Double Bottoms:
[GROUP IS NOT ETF] AND [CLOSE > 20] AND
[FAST STOCH %K(31, 1) < 20] AND
[10 DAYS AGO MIN(31, FAST STOCH %K(31,1)) < 20] AND
[MAX(31, FAST STOCH %K(31,1)) > 80] AND
[1 DAY AGO LOWER PRICE CHAN(63) = 20 DAYS AGO LOWER PRICE CHAN(63)] AND
[LOWER PRICE CHAN(31) > LOWER PRICE CHAN(63) *1.03]