Selected Exploration

Expansion Pivots Sell

The Expansion Pivot sell pattern must fulfil the following criteria. Todays trading range must be larger than that of the previous nine trading days. Yesterdays or todays price has to have been above its 50 day moving average and then broken below it violently. A short entry is made on the following trading day, 1/8 of a point below the lowest price of the preceding day. The protective stop is set one point above the closing price on the breakout day. This pattern is useful in recognizing the end of a sideways movement. A wide range often means that institutional investors are active in the market. A rise in volume at this time adds credence to the pattern.

Exploration Code

(copy and paste into the Metastock Exploration Builder):
Column A: Close
Column B: {Breakout}(H-L)>ATR(9)
Column C: {Signal}Ref(C,-2)>=Mov(C,50,S) and Ref(C,-1)<Mov(C,50,S) OR Ref(C,-1)>=Mov(C,50,S) and C<Mov(C,50,S)
Column D: {entry}LLV(L,2)-.125
Column E: {Stop}If(Ref(C,-2)>=Mov(C,50,S) and Ref(C,-1)<Mov(C,50,S),Ref(C,-1)-1,If(Ref(C,-1)>=Mov(C,50,S)and C<Mov(C,50,S),C-1,0))
Column F:
Filter: ColB and ColC