A new day a new idea – actually an old idea with a modification. What I did was modify my Blow-Off Bottom (BOB) filter to output the first two candles only. In other words – it will be up to me to determine if the third candle is being formed or not in real-time and to act on it if it is.
It then occurred to me that the output could be used for a day trade – and then I would be day trading with BOB.
Filters from Stockfetcher.com - here is the filter
/*This filter finds the first two days of the triad - you have to determine the third piece in real time*/
show stocks where close is between 15 and 25
and average volume(90) > 500000
and close 1 days ago < ema(8) 1 day ago /*this line helps ensure that I'm looking at distressed stocks*/
and close 1 days ago < open 1 day ago
and close < open
and high < high 1 day ago
and volume is more than 20% > volume 1 day ago
and low < low 1 day ago
and draw ema(8)
and draw ema(21)
and add column average true range(10)
and sort on column 5 descending
Charts from Prophet.net.