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Registered User
Joined: 6/26/2006
Posts: 7
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Hi there, I am a new user of your software and must admit I have learnt a lot through your videos. Was wonderng if any of guys could help with a PCF that I want to load on to my system. Details of the formula and what I intend to achieve:
1. Wish to adopt Richard Donchian's Channel breakout system to time the trades
2. Time Frame: Short Term system based on a 20 day breakout.
Idea: If the price of a security is breaks out from its new highs or lows in the last 20 days. - I want sort them on the percentage increase or decrease.
How do I put this formula while scanning for stocks which have shown such a behaviour? Please help. Rochan London
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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To clarify...
When do you want to catch these stocks?
1) When they make a new 20-day high or low
2) When they move higher after making a new 20-day high or low
From what two points do you measure the percent increase/decrease?
- Craig
Here to Help!
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Registered User
Joined: 6/26/2006
Posts: 7
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PCF QUERY:
Hi Craig,
Thank you very much for getting back to me. Sorry if I have confused you with my question earlier. To clarify:
Your Question: When do you want to catch these stocks?
1) When they make a new 20-day high or low?
Ans. Yes you are absolutely right.
To explain further,
1. I want to PICK stocks when their current price EXCEEDS the HIGHS of the previous four full calendar weeks(i.e. 20 trading days).
AND
2. On the other hand PICK stocks when their current price FALLS below the LOWS of the previous four full calender weeks (i.e. 20 trading days)
How do I put this formula while scanning for stocks which have shown such a behaviour?
Hope you can help!
Regards,
Rochan
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Sort any WatchList by one of these two conditions in DESCENDING order. Values of zero for either mean no new high or low was made:
Percent breakout High
ABS(H>MAXH19.1)*((H-MAXH19.1)/MAXH19.1)
Percent breakdown Low*
(L<MINL19.1)*((L-MINL19.1)/MINL19.1)
*note the negative percent change down will be presented as a positive number so you can sort this in descending order too.
- Craig
Here to Help!
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