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Indexes in PCF's Rate this Topic:
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joshuagale
Posted : Wednesday, May 16, 2007 7:42:13 PM
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Joined: 8/22/2006
Posts: 3
Can you input different index values into PCF formulas?
bustermu
Posted : Thursday, May 17, 2007 6:57:41 AM
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Joined: 1/1/2005
Posts: 2,645
joshuagale,

Before someone gives you the answer "No", I am going to give you the answer "Yes".

There is no syntax to call the values of an index. You have to enter the actual numerical values of the indexes into the PCF each time you wish to update.

Thanks,
Jim Murphy
Bruce_L
Posted : Thursday, May 17, 2007 8:21:06 AM


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Posts: 62,704
And I'll counter with the answer that the lack of syntax in TeleChart's Personal Criteria Formula Language for referencing other symbols means there is no practical automated method of doing so using just TeleChart.

It is not possible to write a formula designed for all symbols that references an index and forget it. Manually re-writing your PCFs each day is not something I would see as particularly practical (although it is certainly possible and not necessarily difficult to do, depending on the formula of course).

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
diceman
Posted : Thursday, May 17, 2007 8:37:10 AM
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Joined: 1/28/2005
Posts: 6,048
I think clarification on what is needed would be useful.

Since:

C>C10

Then using:

QQQQ
SPY
DIA

(as your symbols)
would be putting different index values into a PCF.

(this is a possible interpretation of the question)


Thanks
diceman
bustermu
Posted : Thursday, May 17, 2007 2:40:47 PM
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Posts: 2,645
diceman,

I interpreted joshuagale's post to mean that he wanted to mix values from a Symbol and values from indexes in the same PCF.

Updating such a PCF can be quite trivial or, as Bruce indicated, not practical at all depending upon the PCF.

Let's take an example. Suppose we want a PCF which returns "TRUE" if and only if the Relative Strength of the Symbol with respect to SP-500 has increased over the most recent 10 days. Let X represent the closes of the SP-500. Then, the PCF form:

C0/X0 > C10/X10

will do. To update the PCF just type in the values of X0 and X10 first. But that is too hard.

We can use what is called Separation of Variables and replace the above PCF by:

C0/C10 > X0/X10

Never type in numbers to update. As of 05/16/07, the PCF is:

C0/C10 > 1514.14/1495.92

In order to update:
1) Test the PCF on the Symbol SP-500.
2) Copy the left-side of the inequality in the test window. Do not pay any attention to the "Result" of the test.
3) Delete the right-side of the PCF and paste 2) in the right-side.

Even I consider that practical.

Thanks,
Jim Murphy
joshuagale
Posted : Thursday, May 17, 2007 7:51:00 PM
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Joined: 8/22/2006
Posts: 3
First off, thank you for the input.
What about the relative strength easy scan (relative to SP-500) that is one of the default scans in Telechart. Can I use SP-500 value in an easy scan?
bustermu
Posted : Friday, May 18, 2007 8:32:19 AM
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Posts: 2,645
QUOTE (joshuagale)
What about the relative strength easy scan (relative to SP-500) that is one of the default scans in Telechart.


That is 100 times the RS today divided by the RS one year ago (so it says).

QUOTE (joshuagale)
Can I use SP-500 value in an easy scan?


Yes. But, in general, that requires a PCF involving SP-500 values. I just demonstrated how to do that in the post above yours. The problem is that you have to modify the PCF before each update. The modification may be trivial or completely impractical, depending upon the PCF.

Thanks,
Jim Murphy
Bruce_L
Posted : Friday, May 18, 2007 8:35:58 AM


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Posts: 62,704
joshuagale,
You can use the built in System Criteria called Relative Strength 1-Yr (vs SP-500) as an EasyScan Condition and adjust the EasyScan Rangefinder as desired.

Relative Strength 1-Yr (vs SP-500) - The relative change in price of a stock over the past year compared to the change in the SP-500 over the same time. The calculation is : (Latest Close Price of Stock / Latest Close Price of SP-500) / (Close Price of Stock 1 year ago / Close Price of SP-500 1 year ago) * 100.

You cannot use the SP-500 value itself unless you do something similar to what was described by bustermu.

You may wish to review the following:

Using EasyScan to find stocks that meet your own criteria
Definitions of all built in scanning and sorting criteria
Handy PCF example formulas to help you learn the syntax of PCFs!
Using EasyScan to find stocks that meet your own criteria

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
TrilionDolarMan
Posted : Wednesday, May 23, 2007 10:09:23 AM
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Joined: 10/7/2004
Posts: 9
GREAT thread, guys.....I'm going to work on this...it may solve HALF my problem, the automation thereof being the other half....which is perhaps insolvable at TC at present. But, at least this is progress for moi. Thanks.
Bruce_L
Posted : Wednesday, May 23, 2007 10:12:08 AM


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Posts: 62,704
TrilionDolarMan,
You're welcome. Our pleasure (I obviously had nothing to do with developing the technique described in bustermu's Thursday, May 17, 2007 2:40:47 PM ET post).

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
Vic
Posted : Friday, November 07, 2008 10:01:04 AM
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Joined: 10/7/2004
Posts: 2
My thanks to everybody who responded to my question regarding indexes in pcfs.
walkerjh44
Posted : Thursday, January 08, 2009 9:52:25 AM
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Joined: 10/15/2006
Posts: 1

Relative Strength vs. the SP-500 is a very important indicator in determining the strength of a stock (whether its going with or against the market) and when to buy or sell it.  If you cannot create an automated custom formula to plot it as an indicator, then you should update or patch Telechart to include it as one of your standard indicators.

I strongly suggest that you update or patch Telechart to include Relative Srength vs. SP-500 as one of your standard indicators.

bustermu
Posted : Thursday, January 08, 2009 11:28:12 AM
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Joined: 1/1/2005
Posts: 2,645
QUOTE (walkerjh44)
Relative Strength vs. the SP-500 is a very important indicator in determining the strength of a stock (whether its going with or against the market) and when to buy or sell it.  If you cannot create an automated custom formula to plot it as an indicator, then you should update or patch Telechart to include it as one of your standard indicators..


walkerjh44,

The Relative Strength Indicator with any Comparison Symbol you please is a built-in indicator of TeleChart.  In particular, the Comparison Symbol can be chosen to be SP-500.

Thanks,
Jim Murphy
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