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Up 1-2-3-4

Name
UP 1-2-3-4 (Bull)

Submitted by
Mike Derr, Madison, WI

Periodicity
Daily

Elements
HI: High
LO: Low
ADX: Average Directional Ind
DIPLUS: DI+ Directional Ind
DIMINUS: DI- Directional Ind

Explanation
This scan is based on the 1-2-3-4 buy pattern in Jeff Cooper's book Hit and Run Trading. The ADX component identifies trending instruments. The DI component confirms that the trend is in the upward direction. The remainder of the signal searches for 1-2-3 corrections. This scan should be used on an end of day basis to create a candidate quotepage. You will then use this candidate quotepage as input to a 3 Day High scan that will find instruments whose high is 1/8 higher than the maximum high of last 4 days.

Signal
ADX > 30 AND
DIPLUS > DIMINUS AND
((( LO2 < LO3 ) OR (( LO3 <= LO2 ) AND ( HI3 >= HI2 ))) AND (( LO1 <= LO2) OR (( LO2 < LO1) AND ( HI2 >= HI1 ))) AND (( LO <= LO1 ) OR (( LO1 < LO ) AND (HI1 >= HI)))) AND NOT (((( LO3 <= LO2 ) AND ( HI3 >= HI2 ))) AND ((( LO2 <= LO1) AND ( HI2 >= HI1 )))) OR (((( LO3 <= LO2 ) AND ( HI3 >= HI2 ))) AND ((( LO1 <= LO ) AND ( HI1 >= HI )))) OR (((( LO2 <= LO1 ) AND ( HI2 >= HI1 ))) AND ((( LO1 <= LO ) AND ( HI1 >= HI ))))

Parameters
ADX
Dx Period: 14
ADXR Interval: 14
Smoothing: 3

DIPLUS
DI Interval: 14

DIMINUS
DI Interval: 14

Import
To import the scan into Investor/RT, simply copy the italicized text below into a text file, save the text file, and then from the Investor/RT menu, choose FILE:OPEN:FILE and then select your saved text file. Ensure that your parameters and periodicities match those above.

BEGIN INVESTOR/RT SCAN DEFINITION
COMMENT=1 2 3 4 UP from linnsoft.com
SOURCE=Chad Payne
DATE=06/28/99
VERSION=3.7
DATAFEED=myTrack
NAME=1_2_3_4_UP
QP=.All Symbols
PERIODICITY=0
ELEM=HI:High
ELEM=LO:Low
ELEM=ADX:Average Directional Ind:ADXR [Scan] (14) (3, 14)
ELEM=DIPLUS:DI+ Directional Ind:Directional Indicator [Scan] (14)
ELEM=DIMINUS:DI- Directional Ind:Directional Indicator [Scan] (14)
SCAN=ADX > 30 AND DIPLUS > DIMINUS AND ((( LO2 < LO3 ) OR (( LO3 <= LO2 ) AND ( HI3 >= HI2 ))) AND (( LO1 <= LO2) OR (( LO2 < LO1) AND ( HI2 >= HI1 ))) AND (( LO <= LO1 ) OR (( LO1 < LO ) AND (HI1 >= HI)))) AND NOT (((( LO3 <= LO2 ) AND ( HI3 >= HI2 ))) AND ((( LO2 <= LO1) AND ( HI2 >= HI1 )))) OR (((( LO3 <= LO2 ) AND ( HI3 >= HI2 ))) AND ((( LO1 <= LO ) AND ( HI1 >= HI )))) OR (((( LO2 <= LO1 ) AND ( HI2 >= HI1 ))) AND ((( LO1 <= LO ) AND ( HI1 >= HI ))))
ALERT=NO
SOUND=NO
FREQUENCY=0
-
- Comments
-
END INVESTOR/RT SCAN DEFINITION