New 55 Day High based on Turtle Trading by Richard Dennis

The following are the patterns to look for in Turtle trading using the principles and rules of Richard Dennis and William Eckhardt based from the book "The Complete Turtle Trader" written by Michael C. Covel

Using the Stockfetcher I created the following filter to extract the pattern we are looking for that can generate 60% to 300% gain in 3 months time.

/*NEW 55 DAY HIGH

This Filter was created as part of Rule# 1 in following the Turtle trading

by Richard Dennis and Willian Eckhardt in the book "The Complete Turtle Trader."

written by Michael C. Covel p.109*/

Show stocks where close reached a new 55 Day high

and price between $1 and $19

and Volume > 200000

Chart-time 2 years 

I fetched the stocks on the current date: Feb 16, 2018 then on the date filter I chose 3 months ago to give me the scenario of stocks captured. I sorted the result based on the Performance and this is what came up.

Based on the extract. It seemed that the highest gain are those that have the price remaining almost flat the entire year before the breakout like BUDZ, EMHTF and ACBFF. The remaining 3 COLL, MFIN and CBAY have based channels of volatility before the breakout. The first 3 also were Over The Counter Bulletin Board Stocks (OTCBB) or Pink Stocks. While the other 3 were NASDAQ stocks. 

Using this filter and finding stocks with this pattern, enter after the breakout. This is the 55 day breakout that Dennis Richard  advocated to his turtle traders. Ride with the trend then let the price guide you. If it starts to reverse, liquidate.