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Registered User
Joined: 9/6/2005
Posts: 26
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I use Bollinger bands to find break out ideas. when the bands get "narrow", a breakout is about to occur, as I understand them.
I would like to build a EasyScan to find for stocks that have narrow Bollinger bands that actually "fit" inside the Keltner Channel of the same length...this is way above my knowledge to write it so I look to the guru's of TC for help!
Is there a way to build a formula for this odd request?
All help is much appreciated!
PC
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Registered User
Joined: 1/28/2005
Posts: 6,049
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You may be interested in this:
TTM Squeeze Indicator
Thanks
diceman
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Registered User
Joined: 9/6/2005
Posts: 26
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diceman - thanks for the help, but i am still haveing trouble creating the an easyscan to match my tradestation one. I read the post..its a a little confusing to follow - it seemed that there were a few questions about indicator's and not scans...unless I miss read them
what would be the formula for an Easyscan that shows the BB inside the Keltner?
Thanks again
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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pcarma,
That depends entirely on your Bollinger Band and Keltner Channel settings (and this is further complicated by the fact that there seem to be several different ways to calculate Keltner Channels). Without knowing exactly what your settings are (as well as the type of Keltner Channels used) it is impossible to create a Personal Criteria Formula that could be used as an EasyScan Condition to test for what you want (which is why the referenced topic seems so complicated).
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 9/6/2005
Posts: 26
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Bruce - anyway to draw this request from scratch? It is definitly the TTM squeeze strategy that Diceman referred me to but the formula's are not able to be calulated...any help would be appreciated.
PC
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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pcarma,
Assuming you want the same settings as were mentioned by Diceman:
- 20-Period Bollinger Bands +/- 2 * SD (and these are actually narrower than TeleChart's BBs by a factor of (Period-1)/Period.
- 20-Period Keltner Channels +/- 1.5 * Simple Moving Average of True Range.
- Bollinger Band and Keltner Channel Centerline is the same (a 20-Period Simple Moving Average of the Close).
The following would return True when the Bollinger Bands are inside the Keltner Channel:
SQR(ABS(C ^ 2 + C1 ^ 2 + C2 ^ 2 + C3 ^ 2 + C4 ^ 2 + C5 ^ 2 + C6 ^ 2 + C7 ^ 2 + C8 ^ 2 + C9 ^ 2 + C10 ^ 2 + C11 ^ 2 + C12 ^ 2 + C13 ^ 2 + C14 ^ 2 + C15 ^ 2 + C16 ^ 2 + C17 ^ 2 + C18 ^ 2 + C19 ^ 2 - 20 * AVGC20 ^ 2) / 20) * 4 / 3 / ((AVGH20 - AVGL20) / 2 + (ABS(H - C1) + ABS(L - C1) + ABS(H1 - C2) + ABS(L1 - C2) + ABS(H2 - C3) + ABS(L2 - C3) + ABS(H3 - C4) + ABS(L3 - C4) + ABS(H4 - C5) + ABS(L4 - C5) + ABS(H5 - C6) + ABS(L5 - C6) + ABS(H6 - C7) + ABS(L6 - C7) + ABS(H7 - C8) + ABS(L7 - C8) + ABS(H8 - C9) + ABS(L8 - C9) + ABS(H9 - C10) + ABS(L9 - C10) + ABS(H10 - C11) + ABS(L10 - C11) + ABS(H11 - C12) + ABS(L11 - C12) + ABS(H12 - C13) + ABS(L12 - C13) + ABS(H13 - C14) + ABS(L13 - C14) + ABS(H14 - C15) + ABS(L14 - C15) + ABS(H15 - C16) + ABS(L15 - C16) + ABS(H16 - C17) + ABS(L16 - C17) + ABS(H17 - C18) + ABS(L17 - C18) + ABS(H18 - C19) + ABS(L18 - C19) + ABS(H19 - C20) + ABS(L19 - C20)) / 40 + .000001) < 1
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 9/6/2005
Posts: 26
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Bruce - is there a way to turn this into an indicator to view on every chart I see?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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pcarma,
Since it is a Boolean formula, you can Plot it using a Custom Percent True Indicator.
Visually Backtesting Specific Symbols
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 9/6/2005
Posts: 26
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ok...that works well...thanks!
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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pcarma,
You're welcome. Our pleasure.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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