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Hi Pete, Giving by the topic, I assume you know the headaches involved in my question. However, I think I am able to answer some of your questions & also found a study online that partially works, but need your help translating it. Ill try to address some of your previous questions as far as when pattern completed & number of bars, can you make the inputs adjustable so that the pattern would be completed based on bars specificied (i.e. between the previous 50 bars to previous 4 bars) & doubles are within a percentage. The code I found below seems to be onto something, but I\’m unable to plot it to get the full picture.
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There are three plot in this code that define the pattern.
firstlow
MidHigh
lastlow_L
The third plot, only appears when the code has detected the last low of the double bottom pattern (which means the pattern is complete). It is either a numerical value, or it is N/A. So we can test for that, using !IsNaN(lastlow_L). However when I applied this technique to a scan and checked the results it did not work. Meaning, the scan picked up stocks where lastlow_L was N/A, even though I instructed it to filter those out.
Even worse, after reviewing over a dozen charts I found the code is very poor at detecting the pattern for which it was designed. I see no value in working with this code any further.
Any way to do the following?
Input 1TL = 17 bars
Input 2TL = 4 bars
Input 2TR = 1 bar
Input Ticks = 3 ticks
Top1 = highest of the previous 17 bars before Top 1
Top 2 = highest of the previous 4 bars
Alert1 when Top 2 closes within 3 ticks of Top 1
Alert2 when 1 bar after Top 2 closes below Top1 close.
The pattern you have described can include a straight line of equal closes across all 17 bars. If I knew of a simple way to write this code, I would have already written and published it. Each time I have tried to bring my mind to work out the details, I move along to something easier to accomplish. (you are not the first one to ask for this) I’m certain it can be done. i am also confident someone has already done it. Expect to pay several hundred dollars. I certainly would not do it for less.
I suggest you play around with the code i published here: https://www.hahn-tech.com/ans/flat-base-breakout-scans/
You can probably use it to identify patterns similar to double bottoms and double tops.
Thanks Pete! I truly value your guidance & your time. I’m heading back to the chalk board!