How to write scan expression for Candlestick pattern "Kicker Signal"

Beckylw

The multiple ways I have tried to write this scan brings in many stocks that do not meet the criteria. This signal involves the 2 prior trading days. Criteria is: yesterday & 2 days ago Open are the same. Each day's price movement is in opposite directions from opening price. The candle (2 days ago) moved in the trend direction, and yesterday's candle reversed that direction after open.
Has anyone been able to correctly write this scan? Thanks so much for the help!

markd

What you have seems to get what you say you are asking for. But, you may need to add more conditions to exclude hits you don't want.

For instance, if you want the hits to occur during a down trend, you could specify something that happens when price moves down for a certain period - so,

I looked up bullish kicker - it seems to be mainly a reversal pattern. But some of the hits I got with your scan were continuations of an existing trend. Also, they were looking for a gap up (or down) between opens, not equal opens - but there were many variations.

So here are some of the limiting conditions I could think of that seem to fit the conditions of a bullish kicker. If you include them all, you get not hits for days on end. According to Bulkowski, the full requirements version is a very rare pattern, and that seems to be correct.
But maybe you can mix and match them to get what you want.


// yesterdays close is the lowest in at least 10 days
//and [ 1 day ago close = min(10, close) ]
//and [ 1 day ago low = min(10, low)]

// range is sufficiently wide
//and [ 1 day ago range > 1 day ago ATR(10) * .5]
//and [ range > ATR(10) * .5]

// closes are at the far end of each bar (beyond the mid point)

// yesterdays close is in lower half of range
//and [ 1 day ago close < 1 day ago low + [range * .5]]

// today's close is in upper half of range
//and [ close > low + [range * .5] ]

// while opens are at the other end of the bar

// yesterdays open is in the upper half of range
//and [ 1 day ago close > 1 day ago low + [range * .5]]

// today's open is in lower half of range
//and [ close > low + [range * .5] ]

// open equal or above yesterday's open
and [today's open >= yesterday's open]

// no prices today below yesterday's open
//and [low > 1 day ago open]

markd

Hi @Beckylw

Looks like I made a mistake with this one:

// today's open is in lower half of range
//and [ close > low + [range * .5] ]

s/b (change > to < )

//and [ close < low + [range * .5] ]

markd

If you want to, post the version of your scan that you like best so far we can see if it's doing what you think it is, or where it's doing something else and then talk about how to narrow it down.

If you could, please comment each line to say what you want it to do. I think you can just pretty much copy each condition you listed above.

I'm not sure what you mean by each day's price movement is in the opposite direction of the open - direction compared to what?

Beckylw

and [today's close > today's open]
and [today's open = yesterday's open]
and [yesterday's close < yesterday's open]

This is for the Bullish kicker. I had also tried "yesterday" (substituted for today), & "2 days ago" (substituted for yesterday) in a separate scan.
I had also tried [today's open >= yesterday's open]. (based from another scan website's written criteria. It seems to be pulling in stocks prices that include the opening price of previous day - like an engulfing candle, instead of only the opening price of both days being the same.
I have attached a screenshot of this occurring on March 14 & 17, 2014.

Thanks so much for your help & input.

Beckylw

Thank you very much for all of the scan detailed info! I greatly appreciate it! Have a super great day!

Beckylw

Thanks a million! I'm just about to work through this.