BreakOuts

rahulg77 · #81 21st September 2006, 08:52 PM

Hi kathik,

I am trying to copy paste the top half- the one with upside breakout and paste it but its giving a error message. how do we use this indicator. Also wouldnt it be more useful if we change it into explore formulae as we can scan end of the day rather than chking each and every stock in which this indicator shows a breakout.

karthikmarar · #82 24th September 2006, 01:55 AM

Hi rahul

Did you first make the Indicator Congestion Index first. did you do that.
You can also use the same condition in a explorer. That is definitely better.
Let me know if you have problems still

regards

karthik

rahulg77 · #83 24th September 2006, 02:56 PM

Dear Karthik,

Sorry i have not much clue about making indicators or explorations. What do u mean by making the congestion index first. If u could elaborate for me. I am sorry as guiding through every step could be time consuming for u. If you could please guide me on how to use this formulae in exploration.

Rgds

Rahul

kgsirasangi · #84 1st October 2006, 08:47 AM

Quote:

Originally Posted by karthikmarar

Kenneth

Thanks a lot. It really looks like time for break for me...

For those who hate coding.... like me, here is the corrected afl.

Regards

Karthik

I made an indicator from yiur breakout formulae in amibroker. It gives only a couple of breakouts in 5min/15min/1hr charts at same place in some scrips. Can this formualae be modified to intraday 1min charts?
Regards

cemcompusoft · #85 15th October 2006, 11:08 PM

Quote:

Originally Posted by srisara

Hi Friends,

All are free to post scrips here, so that we all can stay informed.

My first candidate is Wipro. It is forming an Ascending Triangle in Daily Charts.

Satya

Dear Satya,

Please refer chart of BAJAJHIND. Did I draw descending triangle correctly. Any comments?

Did it also have meaning like Ascending triangle?

Regards,

K S Kachhwaha

srisara · #86 16th October 2006, 12:18 AM

Quote:

Originally Posted by cemcompusoft

Dear Satya,

Please refer chart of BAJAJHIND. Did I draw descending triangle correctly. Any comments?

Did it also have meaning like Ascending triangle?

Regards,

K S Kachhwaha

K S Kachhwaha

I see it as a sideways consolidation (confined to a rectangle box). Also look at the RSI, prices have tested the lows, but RSI is going up.

This could be a good break out candidate with a Stop Loss at 300 or just below it.

Regards
Satya

aca_trader · #87 16th October 2006, 02:47 AM

Quote:

Originally Posted by srisara

K S Kachhwaha

I see it as a sideways consolidation (confined to a rectangle box). Also look at the RSI, prices have tested the lows, but RSI is going up.

This could be a good break out candidate with a Stop Loss at 300 or just below it.

Regards
Satya

My interpretation is attached.

Best Regards,
--Ashish

rahulg77 · #88 16th October 2006, 12:38 PM

Quote:

Originally Posted by srisara

K S Kachhwaha

I see it as a sideways consolidation (confined to a rectangle box). Also look at the RSI, prices have tested the lows, but RSI is going up.

This could be a good break out candidate with a Stop Loss at 300 or just below it.

Regards
Satya

Hi Satya and ashish,

What is interesting is that patterns is so subjective and there are so many ways of looking at it. Satya sees it as a rectangle. Ashish has drawn it as a sym triangle and on hourly as a rounding bottom or cup with handle in progress( am I right about that ashish).

I am attaching as how I have seen it as......and pls correct me if it gives a diff impression, though I also agree with what you ppl have drawn.

Another thing to notice is inspite of different views, they all are bullish formations if the break out confirms with it too.

What I have seen is a descending Wedge. Now the question is would we see this formation made in a uptrend( which would also confirm its status as a descending Wedge) as it formed just after the fall in May.

Pls find the chart attached.

Rgds

Rahul

cemcompusoft · #89 16th October 2006, 01:25 PM

Quote:

Originally Posted by srisara

K S Kachhwaha

I see it as a sideways consolidation (confined to a rectangle box). Also look at the RSI, prices have tested the lows, but RSI is going up.

This could be a good break out candidate with a Stop Loss at 300 or just below it.

Regards
Satya

Hello Satya,

But my interpretation was wrong. In reference to breakout with ascending triangle (your first post in thread), I think that descending triangle should be for bearish trend.

Regards,

K S Kachhwaha

srisara · #90 16th October 2006, 01:26 PM

Quote:

Originally Posted by rahulg77

Hi Satya and ashish,

What is interesting is that patterns is so subjective and there are so many ways of looking at it. Satya sees it as a rectangle. Ashish has drawn it as a sym triangle and on hourly as a rounding bottom or cup with handle in progress( am I right about that ashish).

I am attaching as how I have seen it as......and pls correct me if it gives a diff impression, though I also agree with what you ppl have drawn.

Another thing to notice is inspite of different views, they all are bullish formations if the break out confirms with it too.

What I have seen is a descending Wedge. Now the question is would we see this formation made in a uptrend( which would also confirm its status as a descending Wedge) as it formed just after the fall in May.

Pls find the chart attached.

Rgds

Rahul

As long as we all are bullish, lets go for it.

caution, market is moving because of frontline stocks. not sure how long it will be supported.

Satya

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