breakout

Hi Amit

"Easy and accessible" language... is what makes masterpieces.... Hope you will get well soon. All the best.

regards

karthik

Hey Karthik...do go back to the charts of Garden Silk again will you...Looks like a nice breakout there. Looking good for an upside to 100-105.
Will probably call this at my thread too.
Cheers.

Hi Amit

Very Nice... Enclosing the chart so that everybody can see....

regards

hi cmlee,
there will not be anything to show what i said in charts. i just wanted to discuss the elements behind the discussed pattern. pl. verify the charts. i always suggest to everyone to develop an eye to catch what is happening behind the chart. Pl. don't byheart the chart patterns. The sharks know pretty well how to fool the traders by patterns. We must realise that we should continue our trades, even in case the pattern fails, in the direction as per the charts.
AJAY

How do we get calculate 100-105 target..
Pls. enlighten
Nagzu

Draw trend lines, a simple method to begin with...
In a rush to leave...will take this later..

Karthik,
i am still not able to detect breakout of my stock using your formula.
any idea what could be wrong?

cmlee

Surprised to note this. i just ran my Expert and landed up with five recent breakouts. enclosing the charts of Baja Auto fin and Apollo.

I will re-post the formula again....in case there is saome mistake in the formula posted earlier.

karthik

Cmlee

Here we go again with the formula

First build two indicators as follows

Indicator 1

Name: Congestion Index(2)

Formula : ((HHV(C,40)-LLV(C,40))/LLV(C,40))*100

Indicator 2

Name : Consolidation Breakout Upside

Formula : If(Ref(Fml("Congestion Index(2)"),-5),<,15,
{and} If(Fml("Congestion Index(2)"),>=,15,
{and} If(CLOSE,>,Ref(HHV(C,40),-5),
{and} If(Mov(V,5,S),>=,1.5*(Ref(Mov(V,40,S),-5)),+1,0),0),0),0)

You can just copy the formula from the post and paste into metastock


Now build an Expert as follows

Column A

Name : Close
Formula : C

Column B

Name : Breakout
Formula : Fml( "Consolidation Breakout Upside")

Filter : colB

I have copied this directly from Indicators and Expert. May be our friend James Alex can convert it to a .exe file for easy uploading.

Hope this will solve your problem

Regards

karthik

karthik,
is there a way to email to you for further discussion?