Scan for Lower High / Higher Low from Previous Bar and Less than 60% of previous

2

2sureshk

Member
Hi Experts,

Please help with a scanner with Lower High and Higher Low from previous Bar (DAY) and the size of the bar should be Less than 60% of previous.

Thanks,
Suresh K
 
T

tomsk

Well-known member
VIP
@2sureshk from your description seems like you're looking for an inside bar transition from the previous bar to the current bar. That by definition is what a lower high and and a higher low is. Here is your requested scan. I have assumed that the size of the bar excludes the wicks. Here then is your requested scan. Make sure you run this on a daily aggregation on the scanner. I obtained 93 hits on a daily scan of the S&P 500.

# START
def barSize = AbsValue(open-close);
plot scan = high < high[1] and low > low[1] and barsize - barSize[1] < 0.6;
# END
 
2

2sureshk

Member
@2sureshk from your description seems like you're looking for an inside bar transition from the previous bar to the current bar. That by definition is what a lower high and and a higher low is. Here is your requested scan. I have assumed that the size of the bar excludes the wicks. Here then is your requested scan. Make sure you run this on a daily aggregation on the scanner. I obtained 93 hits on a daily scan of the S&P 500.

# START
def barSize = AbsValue(open-close);
plot scan = high < high[1] and low > low[1] and barsize - barSize[1] < 0.6;
# END
Thank you .. thank you for the technical info as Inside bar .

Do you trade any specific strategy with this?

I see a long opportunity when this bar observed below SMA21

That triggered this idea

Thx
Suresh
 
T

tomsk

Well-known member
VIP
Thank you .. thank you for the technical info as Inside bar .

Do you trade any specific strategy with this?

I see a long opportunity when this bar observed below SMA21

That triggered this idea

Thx
Suresh
@2sureshk An inside bar basically signifies indecision. I don't trade with that strategy
 
2

2sureshk

Member
@2sureshk An inside bar basically signifies indecision. I don't trade with that strategy
Thank you for the feedback

What is the profitable strategy you use ?

Please share details so that I can try

Thx
 
T

tomsk

Well-known member
VIP
@2sureshk there are many trading strategies out there
I am an options seller and like to capture premium decay. What works for me may not work for you as my risk appetite may be different
Whatever strategy you deploy always focus on the risk you're prepared to take.
 
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