3 week

lynden

anyone have information on how to create a 3 week tight pattern? thanks in advance

markd

Try this - edit to your preferences:

[group is sp500]
and [2 weeks ago weekly close < 3 weeks ago weekly close * 1.01]
and [2 weeks ago weekly close > 3 weeks ago weekly close * .99]
and [1 week ago weekly close < 2 weeks ago weekly close * 1.01]
and [1 week ago weekly close > 2 weeks ago weekly close * .99]
and [weekly close < 1 week ago weekly close * 1.01]
and [weekly close > 1 week ago weekly close *.99]

It picks up a lot of bought out stocks; also, it seems the win rate varies, so you'll have to figure out what other conditions are present that make the pattern work, when it does.

Check out @Sharptrader 's site for his picks and background on this pattern.

lynden

Thanks Mark and i have visited Sharptraders site numerous times, i just want something incorporated into my stockcharts.com account. Your help is greatly appreciated .

Sharptraders

Actually Mark your scan gives 4 weeks tight...You are simply comparing this week to last week and last week to 2 weeks ago for 3 Weeks Tight.

[weekly close <= last week's close * 1.01]
and [weekly close >= last week's close * .99]
and [last week's close <= 2 weeks ago weekly close *1.01]
and [last week's close >= 2 week's ago weekly close * .99]

markd

Thanks, Sharptraders. I thought about that as I was writing it, but decided to leave as is, and let @lynden‌ edit to his preference.

I get that "three weeks tight" is the accepted name, but it's really only two weeks tight, as the first week doesn't have to be tight to anything. Not sure if leaving in the extra week affects the odds, although strictly speaking it is a different set up.

Sharptraders

I only post the ones from my Select list which is a combo of various lists I create...Usually has about 200 stocks on it that have some decent fundamentals...This week I only have 5 whereas the SP 1500 has 42 total...Also, need to make sure you eliminate the takeovers and buyouts.