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**dloomis** · 12-30-2003, 06:04 PM

Re: Reply to post 'What does this efs do exactly?'

It seems to be looking for some kind of a reversal set up, too confusing to
explain it all, but the first section is looking for

the prior bar was an up bar and
the high of this bar is above the high of the prior bar and
this bar closed at a price below the open and
this bar gapped up and
this bar closed below the prior bar.

Seems confusing to mee too

**cpatte7372** · 12-30-2003, 06:07 PM

dloomis,

It is rather confusing. However, I wonder if it actually does the job.

Carlton

**gspiker** · 12-30-2003, 07:33 PM

So the first condition is looking for a up day followed by a down day where the down days high is higher than the 1st (up) day and the close is lower than the close of the 1st (up) day and the close of the 1st (up) day is less open of the 2nd day. Sounds almost, but not exactly like, an outside day...

The second condition is the reverse...again similar to an outside day.

The third condition is looking for an up day also followed by a down day. In this case this high of the 1st (up day) is again higher than the second day and the close of 1st (up) day is higher than the open of the second day. They also have an unneeded condition of checking if the close of the up day is greater than the close of the down day... Well if the open of a down day is less than the close of a previous day, then the close has to be lower also...oh well.

the forth is the opposite of the third...

Garth

**cpatte7372** · 12-30-2003, 07:39 PM

Garth,

Thanks a lot for the explanation. Just one more question. Can I have confidence in it?

Thanks

Carlton

**gspiker** · 12-30-2003, 08:53 PM

Hi,

Well I wouldn't have confidence in anything that I haven't backtested the heck out of.

My question if why they didn't stick with the strict definition of an outside day...

Garth

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What does this efs do exactly?

What does this efs do exactly?

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