An Excellent Trick Named as Star Bar Trick

[ram2010]

INDIGO gave Buy signal yesterday....

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do you use any scanner ? for amibroker?

can you post the code?

 

[ajeetsingh]

Ya I was looking for reentry on next day where you pointed out as then closing was confirmed above wma and prev. bar was almost a pin bar, keeping low of pin bar as SL.....

Though this is hindsight.
Many times stop losses are purposely hit for all traders/investors to exit.
Then professional traders/FII's reenter.
An entry is at the bullish pin and the next day is a doji above 5WMA.MA is also sloping upwards.
You do not let go of a stock,even if it hits your stop loss.You always look for a reentry.

 

[rkkarnani]

INDIGO gave Buy signal yesterday....

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As per strategy suggested, we need four candles making and closing lower lows. In this case its only three candles.
OR am I mistaken, may be the same is not evident in the image posted.

 

[amitrandive]

As per strategy suggested, we need four candles making and closing lower lows. In this case its only three candles.
OR am I mistaken, may be the same is not evident in the image posted.

Yes Sirji you are right ,but the coding is such that it checks the lowest low of 4 candles and gives a buy signal when today's open is greater than yesterday's low and today's close is greater than yesterday's close,and also if today's close is above 5WMA.

Buy= Ref(L,-4)>Ref(L,-3)AND Ref(L,-3)>Ref(L,-2)AND Ref(L,-2)>Ref(L,-1) AND O>Ref(C,-1) AND C>Ref(C,-1)AND C > WMA(C,5);
Sell= Ref(H,-4)<Ref(H,-3)AND Ref(H,-3)<Ref(H,-2)AND Ref(H,-2)<Ref(H,-1) AND O<Ref(C,-1) AND C<Ref(C,-1)AND C < WMA(C,5);

 

[umeshmandal]

Everyone knows this.... :clapping:
I am looking scope for re-entry !!!

I found this on most occassions, if the trade is reversed to short below the SL, one can recover the SL amount. Ofcourse it has to be in Futures to be able to Short! Just my observation.

 

[ajeetsingh]

so should i include 1 more day....

Buy= Ref(L,-5)>Ref(L,-4) AND Ref(L,-4)>Ref(L,-3)AND Ref(L,-3)>Ref(L,-2)AND Ref(L,-2)>Ref(L,-1) AND O>Ref(C,-1) AND C>Ref(C,-1)AND C > WMA(C,5);
Sell=  Ref(H,-5)<Ref(H,-4) AND Ref(H,-4)<Ref(H,-3)AND Ref(H,-3)<Ref(H,-2)AND Ref(H,-2)<Ref(H,-1) AND O<Ref(C,-1) AND C<Ref(C,-1)AND C < WMA(C,5);

Yes Sirji you are right ,but the coding is such that it checks the lowest low of 4 candles and gives a buy signal when today's open is greater than yesterday's low and today's close is greater than yesterday's close,and also if today's close is above 5WMA.

Buy= Ref(L,-4)>Ref(L,-3)AND Ref(L,-3)>Ref(L,-2)AND Ref(L,-2)>Ref(L,-1) AND O>Ref(C,-1) AND C>Ref(C,-1)AND C > WMA(C,5);
Sell= Ref(H,-4)<Ref(H,-3)AND Ref(H,-3)<Ref(H,-2)AND Ref(H,-2)<Ref(H,-1) AND O<Ref(C,-1) AND C<Ref(C,-1)AND C < WMA(C,5);

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[sushilgirdher]

Yes Sirji you are right ,but the coding is such that it checks the lowest low of 4 candles and gives a buy signal when today's open is greater than yesterday's low and today's close is greater than yesterday's close,and also if today's close is above 5WMA.

Buy= Ref(L,-4)>Ref(L,-3)AND Ref(L,-3)>Ref(L,-2)AND Ref(L,-2)>Ref(L,-1) AND O>Ref(C,-1) AND C>Ref(C,-1)AND C > WMA(C,5);
Sell= Ref(H,-4)<Ref(H,-3)AND Ref(H,-3)<Ref(H,-2)AND Ref(H,-2)<Ref(H,-1) AND O<Ref(C,-1) AND C<Ref(C,-1)AND C < WMA(C,5);

This is very much right

 

[timepass]

ashok leyland (spot) : Is it on the cusp of the star bar trick with a buy above 89.5 ??