Finding Continuation Triangles And Wedges With Telechart (zz)

http://forums.worden.com/default.aspx?g=posts&t=26559


The chart is created by 4 things...

1) The custom indicator (h*1.01) - this represents a point 1% higher than today's high
2) The custom indicator  (l*.99) - this represents a point 1% lower than today's low
3) A 10 day linear regression line of #2
4) A 10 day linear regression line of #3

Now you can sort for the dragon which is a very easy process.  First, I sort my watchlist by the 10 day linear regression of the high blue line looking for stocks that have a sort value of 0.10 or less.  Then I space bar down the list looking for candidates which are very easy to spot.



The dragon candlestick pattern PCF
C > O AND C - O < (H - L) / 2 AND (AVGH3.1 - AVGL3.1) / (MAXH3.1 - MINL3.1) > .8 AND C > MAXH3.1

if you want more consolidation days, just change the 3 in the formula with whatever number of days you want