I should add the following statistics as well (for results on the right, i.e. out of the 23 entries with stricter conditions):
Hold duration. 13/23 closed in 1 week (56%) and 21/23 (91%) closed by week 4. Only 2 trades remained open longer (1 for 5 weeks, 1 for 9 weeks). One option which is what I would use is to allow a max of 4 weeks (cashflow / capital utilisation reasons) and if so those 2 longer trades would have been closed for losses, reducing the average profit / trade to just over $200, still good imo. This variable will be decided after some stats from more stocks to confirm.
Of the 23 entries, the Spike Low was also a Spring as you call it (I call them Fakeouts) 6 out of the 23 times, and it was the lowest low in at least the prior 10 weeks in 6 out of the 23 times, so most Spike Lows were nothing special, just a short term low followed by a stronger (larger range) upthrust bar that closed above the Spike Low high.
Cheers, Sharks
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