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Bullish hammer Rate this Topic:
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Readyforaction
Posted : Saturday, November 3, 2012 12:26:43 PM
Registered User
Joined: 10/28/2012
Posts: 9

Hello i am a new gold member, i tried this formula fot hammer and i get a formula error ...  ???

 

(H-L)>(3*abs(O-C))AND((C-L)/(.001+(H-L))>0.8)AND(O-L)/((.001+(H-L))>0.8)

StockGuy
Posted : Saturday, November 3, 2012 12:59:54 PM

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Joined: 9/30/2004
Posts: 9,187

Try this: 

 

(H-L) > (3*abs(O-C)) AND (C-L)/(.001+(H-L)) > 0.8 AND (O-L)/(.001+(H-L)) > 0.8

Readyforaction
Posted : Saturday, November 3, 2012 10:33:55 PM
Registered User
Joined: 10/28/2012
Posts: 9

Strange i a m still getting a formula error

 

Bruce_L
Posted : Monday, November 5, 2012 8:57:17 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

I do not get any error messages when using StockGuy's version of the formula. That said, I would probably re-write it to avoid any division as:

H - L > 3 * ABS(O - C) AND C - L > .8 * (H - L) AND O - L > .8 * (H - L)

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-Bruce
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jbalex
Posted : Monday, January 14, 2013 10:12:51 PM
Registered User
Joined: 12/22/2009
Posts: 23

I wanted a Bullish hammer on a downtrend.  After going through many posts, I have these PCF formulas and it works fine:

Bullish Hammer: H - L > 3 * ABS(O - C) AND C - L > .8 * (H - L) AND O - L > .8 * (H - L)

5 day downtrend:  C < C1 AND C1< C2 AND C2 < C3 AND C3 < C4 AND C4 < C5

However, I would like to combine them in a single condition(if that is possible) or any number of bars on a downtrend to get the Bullish Hammer. The other option is write a -  2, 3,4,5, etc downtrend with a Bullish Hammer.

Any suggestions from experts to a PCF newbie will be appreciated.

Thanks

Bruce_L
Posted : Tuesday, January 15, 2013 8:47:06 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

If you want to combine them into a single condition, you can just connect the two formulas with an AND statement to get a single Condition Formula (for the 5 day downtrend version):

H - L > 3 * ABS(O - C) AND C - L > .8 * (H - L) AND O - L > .8 * (H - L) AND C < C1 AND C1 < C2 AND C2 < C3 AND C3 < C4 AND C4 < C5

You can remove the last comparison to get a 4 day downtrend version:

H - L > 3 * ABS(O - C) AND C - L > .8 * (H - L) AND O - L > .8 * (H - L) AND C < C1 AND C1 < C2 AND C2 < C3 AND C3 < C4

And continue the pattern to get 3 day downtrend:

H - L > 3 * ABS(O - C) AND C - L > .8 * (H - L) AND O - L > .8 * (H - L) AND C < C1 AND C1 < C2 AND C2 < C3

And 2 day downtrend versions:

H - L > 3 * ABS(O - C) AND C - L > .8 * (H - L) AND O - L > .8 * (H - L) AND C < C1 AND C1 < C2



-Bruce
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daraj123
Posted : Wednesday, January 23, 2013 11:01:34 AM
Registered User
Joined: 12/11/2008
Posts: 11

When i add in the first scan above i dont get anything adding it into the new version of telechart

Bruce_L
Posted : Wednesday, January 23, 2013 11:24:49 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

It is an incredibly restrictive formula. There are likely to be numerous days where it does not return any results.



-Bruce
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