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Registered User
Joined: 1/27/2005
Posts: 11
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I'm working on creating a scan to show stocks with a narrowing range. I've tried starting with a PCF (H7-L7)>(H6-L6)>(H5-L5)>(H4-L4)>(H3-L3)>(H2-L2)>(H1-L1)>(H-L), for a 7 day narrowing price range. This is somewhat restrictive, and consistently produces 0 stocks. Is there a way to maniplulate the Price Percent Change Today or 5Day to scan for a narrowing price range, or another combination of PCF/Scan to scan for narrowing price range? Thanks, Joseph Hale
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Boolean functions must be a one-to-one comparison. Here is the re-write:
(H7-L7)>(H6-L6)AND (H6-L6)>(H5-L5)AND (H5-L5)>(H4-L4)AND (H4-L4)>(H3-L3)AND (H3-L3)>(H2-L2)AND (H2-L2)>(H1-L1)AND (H1-L1)>(H-L)
This will find some stocks but is still very restrictive. You only need one day to mess up the string. Try this one for me:
(AVGH4-AVGL4)/(AVGH4.4-AVGL4.4)*100
This returns the average daily range of the recent four days as a percent of the average daily range of the four days prior. You will want lower numbers (less than 100).
Sort a few WatchLists by this in ascending order and see if it fits the bill.
- Craig
Here to Help!
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Registered User
Joined: 1/27/2005
Posts: 11
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Thank you. The results are good. In your AVG daily range formula you used AVGH4.4 and AVGL4.4. Can you explain using 4.4 vs 4. Your formula works, I'd just like to understand it more clearly.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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AVGL4
Average low of last for bars
AVGL4.4
Average low of four bars starting four days ago and going back.
Make sense?
- Craig
Here to Help!
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Registered User
Joined: 1/27/2005
Posts: 11
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Yes. Thank you. Is that formula function of using a decimal point separation universally applicable? Is there a training source that details all of these functions/rules?
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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The .4 is known as a days ago parameter, which can be applied to many different functions. Your best resource is to use the PCF information in the Help file. It has also been posted in a link near the top of the Ask A Trainer forum for easy access. Study the examples there, in order t obecome familiar with the basic syntax. Then start looking at some of the formulas shared here in the forums (there are tons of them, and can be found by doing a search on formula or PCF). Work on trying to figure out what these formulas are doing, based on your knowledge of the basic syntax. If you come across some syntax that you can't interpret, that would be a great time to post a question here in the Ask a Trainer forum, and we'll do our best to explain it.
- Doug
Teaching Online!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Check out this topic:
Handy PCF example formulas to help you learn the syntax of PCFs!
- Craig
Here to Help!
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Registered User
Joined: 1/1/2005
Posts: 2,645
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Joseph,
You seem to be close to the setup called NR7 (Narrowest Range for 7 days). The PCF is:
((H-L)<=(H1-L1))AND((H-L)<=(H2-L2))
AND((H-L)<=(H3-L3))AND((H-L)<=(H4-L4))
AND((H-L)<=(H5-L5))AND((H-L)<=(H6-L6))
I tested it some years ago on TC Companion and got good results. It produced something over 100% profit per annum at the time or I would not have remembered.
Thanks,
Jim Murphy
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