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Registered User
Joined: 11/28/2005
Posts: 38
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1. I am looking to build a PCF for the 21 day RSI with and average of 1 that enables me to either see the slope of the RSI line via a linear regression line to work out if the RSI is moving in line with the current stock price.
2. Also, I am looking for a PCF that will tell me if the RS is also going in the same direction of the stock price, whether or not the RS line is diverging with the current stock price.
3. Is there a PCF to identify any consolidated breakouts? I know there is one for condolidations, but nothing I have seen says breakouts as well. I am looking at 1, 3, 6 and 12 month periods of consolidation.
Could really do with some help. I would like to build these in PCF's rather than go through the sort screens.
Thanks.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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QUOTE (ksrooprai) I am looking to build a PCF for the 21 day RSI with and average of 1 that enables me to either see the slope of the RSI line via a linear regression line to work out if the RSI is moving in line with the current stock price.
If Use Wilders Smoothing is Unchecked, you should be able to use the following Personal Criteria Formula:
(10 * RSI21 + 9 * RSI21.1.1 + 8 * RSI21.1.2 + 7 * RSI21.1.3 + 6 * RSI21.1.4 + 5 * RSI21.1.5 + 4 * RSI21.1.6 + 3 * RSI21.1.7 + 2 * RSI21.1.8 + RSI21.1.9 - RSI21.1.11 - 2 * RSI21.1.12 - 3 * RSI21.1.13 - 4 * RSI21.1.14 - 5 * RSI21.1.15 - 6 * RSI21.1.16 - 7 * RSI21.1.17 - 8 * RSI21.1.18 - 9 * RSI21.1.19 - 10 * RSI21.1.20) / 770
It is not practical to write a PCF to match the charts if Use Wilders Smoothing is Checked.
QUOTE (ksrooprai) Also, I am looking for a PCF that will tell me if the RS is also going in the same direction of the stock price, whether or not the RS line is diverging with the current stock price.
TeleChart's Personal Criteria Formula Language does not have syntax for referencing other symbols. It is not possible to write a PCF for Relative Strength.
QUOTE (ksrooprai) Is there a PCF to identify any consolidated breakouts? I know there is one for condolidations, but nothing I have seen says breakouts as well. I am looking at 1, 3, 6 and 12 month periods of consolidation.
The following video covers creating a Breakout EasyScan:
EasyScan Design for Breakouts and Bouncers
While the following is concentrated on consolidation, my Friday, May 13, 2005 10:01:58 PM ET post in the topic discusses how to use the Days Ago parameter to end the consolidation scan several days in the past and test for price to breaking out of the consolidation:
Scan for stocks bouncing in a lateral channel
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 11/28/2005
Posts: 38
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Thank you, for above.
1. How do I alter the formula for and 8 day period for the RSI?
2. How do I interpret the figures, in other words what does the resultant number mean? I can see it visually with the line becoming less and less steep but at what number does the line become horizontal, ofr example, by plugging in the PCF how do I know that the number is diverging from the current stock price?
Thank you, much appreciated.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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QUOTE (ksrooprai) How do I alter the formula for and 8 day period for the RSI?
Replace all of the 21s in the formula with 8s:
(10 * RSI8 + 9 * RSI8.1.1 + 8 * RSI8.1.2 + 7 * RSI8.1.3 + 6 * RSI8.1.4 + 5 * RSI8.1.5 + 4 * RSI8.1.6 + 3 * RSI8.1.7 + 2 * RSI8.1.8 + RSI8.1.9 - RSI8.1.11 - 2 * RSI8.1.12 - 3 * RSI8.1.13 - 4 * RSI8.1.14 - 5 * RSI8.1.15 - 6 * RSI8.1.16 - 7 * RSI8.1.17 - 8 * RSI8.1.18 - 9 * RSI8.1.19 - 10 * RSI8.1.20) / 770
QUOTE (ksrooprai) How do I interpret the figures, in other words what does the resultant number mean?
It is the Slope of a 21-Period Linear Regression Line applied to RSI. The line is straight, so this number is just rise divided by the run.
QUOTE (ksrooprai) I can see it visually with the line becoming less and less steep but at what number does the line become horizontal, ofr example
The line is horizontal when the slope is zero.
QUOTE (ksrooprai) how do I know that the number is diverging from the current stock price?
You would probably want to calculate the Slope of the Linear Regression Line for Price as well:
(10 * C + 9 * C1 + 8 * C2 + 7 * C3 + 6 * C4 + 5 * C5 + 4 * C6 + 3 * C7 + 2 * C8 + C9 - C11 - 2 * C12 - 3 * C13 - 4 * C14 - 5 * C15 - 6 * C16 - 7 * C17 - 8 * C18 - 9 * C19 - 10 * C20) / 770
You will normally be looking for one slope to be negative while the other slope is positive. You may wish to review the following:
Using Linear Regression vs Classical Peaks/Valleys for Divergence Analysis
Useful Gradations for Divergence Evaluations
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 11/28/2005
Posts: 38
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Thank you so much for your help. Much appreciated.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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