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Fibonacci Retracement Levels Topic Rating:
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Craig_S
Posted : Friday, March 18, 2005 9:02:33 PM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819







If you prefer, you can download the video and watch it offline. Choose the Save option and save it to your hard drive. Extract the files to a location on your hard drive and double click on the .html file to launch the video. You must extract the files to your hard drive. You cannot play the video from the .zip file.

fibonacci PCF sorting EasyScan

- Craig
Here to Help!

To view this video you must have Macromedia Flash Player and Microsoft Internet Explorer 5+
Craig_S
Posted : Friday, March 18, 2005 11:04:15 PM


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Joined: 10/1/2004
Posts: 18,819
The EasyScan conditions:

Price Percent Change 26-weeks (values of 10 or more)
Volume 90-day (list rank of 50 or more)

The PCF:

(C - MAXH125) / (MAXH125 - MINL125) * 100

The PCF for 1 year:

(C - MAXH250) / (MAXH250 - MINL250) * 100

The PCF for 3 months

(C - MAXH63) / (MAXH63 - MINL63) * 100

(you probably see the pattern by now )


- Craig
Here to Help!
ajclarke88
Posted : Sunday, March 20, 2005 12:42:39 PM
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Joined: 1/5/2005
Posts: 24
Very helpful...now I have a good understanding of this tool.
Thanks!!
Craig_S
Posted : Sunday, March 20, 2005 3:01:18 PM


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Posts: 18,819
Glad to hear it!

- Craig
Here to Help!
Goldengate
Posted : Friday, March 25, 2005 7:52:42 AM
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Joined: 2/2/2005
Posts: 9
I got all the formula put in but when I went to do the "sort by 26 week retracement" is says "not calculated" and I don't know how to get it to calculate? What do I do next?
Doug_H
Posted : Friday, March 25, 2005 8:00:39 AM


Worden Trainer

Joined: 10/1/2004
Posts: 4,308
Click Databank|Personal Criteria Formulas|Update All Criteria. The program will then update all of your PCF's.

- Doug
Teaching Online!
Goldengate
Posted : Friday, March 25, 2005 8:25:07 AM
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Joined: 2/2/2005
Posts: 9
Thank you. I am a novice but getting the hang of it and your video's and quick response to questions are amazing! I appreciate it very much.
Doug_H
Posted : Friday, March 25, 2005 8:53:42 AM


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Joined: 10/1/2004
Posts: 4,308
Anytime! We're here to help!

- Doug
Teaching Online!
Craig_S
Posted : Friday, March 25, 2005 9:16:09 AM


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Joined: 10/1/2004
Posts: 18,819
Um... Doug, "Here to Help" is my line.

Stick to "Teaching Online".



- Craig
Here to Help!
Goldengate
Posted : Friday, March 25, 2005 9:21:12 AM
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Joined: 2/2/2005
Posts: 9
I have just watched this video for the 4th time and you guys have done a FANTASTIC job. In fact the more I watch your videos the more convinced I am going to stay with TC2005. I am beginning to understand how to use it, and I love the way you respond so quickly to my questions. Thanks again!!!
Craig_S
Posted : Friday, March 25, 2005 9:23:04 AM


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Joined: 10/1/2004
Posts: 18,819
You staying with TeleChart is why we are here.

I am very happy that you have found the boards and the work Doug, StockGuy, Bruce and I do meaningful.

- Craig
Here to Help!
WillStich
Posted : Friday, May 06, 2005 7:49:42 AM
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Joined: 2/24/2005
Posts: 1
Fantastic! I'm using Worden's TC05 and I must say, "The Telechart is amazingly learnable and the Worden crew delivers prompt and (very!) helpful tips." Thanks, Worden crew!
Craig_S
Posted : Friday, May 06, 2005 7:59:03 AM


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Joined: 10/1/2004
Posts: 18,819
Our pleasure!

- Craig
Here to Help!
SailorBoy
Posted : Sunday, May 08, 2005 2:45:13 AM
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Joined: 10/7/2004
Posts: 1
Thanks for an excelent Video. I used Fibs occasionally to follow the movement of a stock. Your video thrown new light on this subject. Thanks again and keep up the good work

Joseph (sailorboy)
keyser
Posted : Wednesday, June 15, 2005 11:07:30 AM
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Joined: 1/5/2005
Posts: 5
Hi everybody,

This fibonacci retracement video was fantastic!!!!! Y'all do great work in producing such good training vidoes.

Any possiblities for videos on the fibonacci fan and the fibonacci arc?

Thank you very much. Judith
Craig_S
Posted : Wednesday, June 15, 2005 11:12:41 AM


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Joined: 10/1/2004
Posts: 18,819
There are no plans in the near future but who knows!

- Craig
Here to Help!
alfuno
Posted : Wednesday, June 15, 2005 11:26:15 PM
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Joined: 10/7/2004
Posts: 3
can we use this easy scan for the Down 26 weeks? or the formulas are different?
Craig_S
Posted : Thursday, June 16, 2005 2:54:42 AM


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Joined: 10/1/2004
Posts: 18,819
I am not sure what you mean... can you elaborate?

- Craig
Here to Help!
alfuno
Posted : Thursday, June 16, 2005 4:47:28 PM
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Joined: 10/7/2004
Posts: 3
to Craig
ok, what I mean is when I want to scan the mkt for the stocks that went down for the last 26 weeks and then sort by the 26 retracement ... do I use the same Easy scan for the Up 26 weeks and then only change the PCF to sort to:
(C - MINL125) / (MAXH125 - MINL125) * 100
??

OR

should I also change the Easy Scan ? If yes ... what would it be ??

thanks in advance
Craig_S
Posted : Thursday, June 16, 2005 4:50:39 PM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819
I found our original thread. Look at the answer there and tell me if it works:

Fibonacci retracement

- Craig
Here to Help!
laertes1a
Posted : Saturday, October 15, 2005 10:12:09 AM
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Joined: 3/11/2005
Posts: 12
In trying to duplicate the results on your video I
can't get my fib retracements to line up with
my 26-weeks up sorted by 26 week retracement pcf.

I draw the fib retracement like you did on the video, from low to high of past 125 days, but my lines come out different. Instead of the first line being 23.6 it looks more like 38.2 or so.

My telechart version is 6.0.0042

Is this the same version you were using?

Is there a newer version? Am I doing something wrong?
Craig_S
Posted : Saturday, October 15, 2005 10:48:00 AM


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Joined: 10/1/2004
Posts: 18,819
Give me a stock example so I can try it...

I need:

Ticker
Date you are using for the low
Date you are using for the high
Date when it hits what you think is the 38.2 not the 23.6

- Craig
Here to Help!
Bruce_L
Posted : Saturday, October 15, 2005 10:50:16 AM


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Joined: 10/7/2004
Posts: 65,138
Make sure you have the lines you want drawn selected. If you put your mouse over the end of the line drawn to create the retracement, there should be a yellow circle. Right-click on the circle and select Edit. If the 23.6% level is not checked, it will not be drawn.

The Online Help Files contain a section on Fibonacci Arcs, Fans, and Retracements that might be helpful.

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
laertes1a
Posted : Tuesday, October 18, 2005 9:26:27 AM
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Joined: 3/11/2005
Posts: 12
QUOTE (Craig_S)
Give me a stock example so I can try it...

I need:

Ticker
Date you are using for the low
Date you are using for the high
Date when it hits what you think is the 38.2 not the 23.6


Thanks for your reply.
If I use the daily chart for GLW with the shift 4 scale to show 6 months,
then I use the low of 4/21/05 and the high of 9/13/05, my Fib retracement lines drawn using those points.

The first line below the top line, which should be 23.6 is showing near the closing price of the past couple days. According to my 26-week retracements sort, this should be more like 38%. This should be the second line below the top instead of the first.

I right clicked the yellow circle and clicked on "edit" and have all the boxes showing checkmarks from 0 to 100.

I need to get this sorted out. I find the Fib retracement very useful if only I can calibrate this one correctly.

Thanks.

Tom
Craig_S
Posted : Tuesday, October 18, 2005 10:12:30 AM


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Joined: 10/1/2004
Posts: 18,819
I am showing the PCF returning about -38 for GLW which matches the fib line it is hitting.

Are your PCFs calculated?

How to create a Personal Criteria Forumula (PCF)

- Craig
Here to Help!
laertes1a
Posted : Tuesday, October 18, 2005 1:23:37 PM
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Joined: 3/11/2005
Posts: 12
QUOTE (Craig_S)
I am showing the PCF returning about -38 for GLW which matches the fib line it is hitting.

Are your PCFs calculated?

How to create a Personal Criteria Forumula (PCF)


Yes. Mine are calculated according to the formula given in the video.

I just don't have a retracement line appearing at 23.6.

Apparently yours works fine, just as it did in the video.

I must be doing something wrong. I just don't know what it is. I'm going to try using the edit window to turn off the 23.6 line and then back on. See what that does. Any suggestions?
Craig_S
Posted : Tuesday, October 18, 2005 1:30:27 PM


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Joined: 10/1/2004
Posts: 18,819
From the high in September to where the close is now... is there three lines (one at the high another one and then one near the current price)?

- Craig
Here to Help!
laertes1a
Posted : Tuesday, October 18, 2005 1:52:48 PM
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Joined: 3/11/2005
Posts: 12
After turning off all but the 0 and 23.6 lines, I find that I have to start at the top and then work down. Instead of starting at the bottom and going up. Like in the directions.

I was doing it backwards. But I thought I saw it that way in the video.

Anyway, I think I have the hang of it now. Thanks.
Craig_S
Posted : Tuesday, October 18, 2005 1:56:12 PM


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Joined: 10/1/2004
Posts: 18,819
Great!

- Craig
Here to Help!
TreeShaker
Posted : Saturday, March 04, 2006 2:55:12 AM
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Joined: 3/13/2005
Posts: 6
You say we don't need to know how the formula works for the PCF, how am I to know which PCF I want to use? 1 yr, 6 mo., or 3 mo.s? What will I see different? I'm looking at 6 mo.s of bars at zoom 4, what changes? Also if I use different values for price percent change how will that change the results? I don't mind experimenting if I know what to expect.
Craig_S
Posted : Saturday, March 04, 2006 7:06:26 AM


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Joined: 10/1/2004
Posts: 18,819
I only say that for those that don't want to delve into the math.

The formulas give the close as a percentage of the total range for the stock over the selected period.

You decide the amount of time you want looked at and then use the formula that fits that time period.

- Craig
Here to Help!
TreeShaker
Posted : Sunday, March 05, 2006 2:53:42 AM
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Joined: 3/13/2005
Posts: 6
Thanks for the quick reply Craig. The light has just come on. Thanks again.
Craig_S
Posted : Sunday, March 05, 2006 11:38:51 AM


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Joined: 10/1/2004
Posts: 18,819
Great!

- Craig
Here to Help!
deeperlife
Posted : Thursday, June 08, 2006 9:13:04 AM
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Joined: 11/22/2005
Posts: 1
I welcomed your video on Fibonacci Retracements. Very Informative. Have you got any information on Elliot Waves?

Dtrendtrader
Bruce_L
Posted : Thursday, June 08, 2006 9:43:01 AM


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Joined: 10/7/2004
Posts: 65,138
deeperlife,
We do not have any Elliot Wave specific training materials, but there are frequent Elliot Wave discussions in the Stock and Market Talk forum. You could do a search for Elliot Wave in that forum do find topics with such discussions:

Learn how to use the forums: post a new topic, reply, Search existing topics

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
alindsley
Posted : Saturday, July 22, 2006 10:43:13 PM

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Joined: 2/28/2005
Posts: 825
I recently worked through this video and scan again just to refresh my memory. It is quite a neat scan.

I ended up making a short MS Word tutorial with some basic instructions and a URL pointing back to here so I could easily find it again (my old memory ain't what it used to be).

And then I wondered....Is there any way to keep Notes on telechart that "are not attached to a chart"? A personal note. The Reason? That would take the place of the word doc I just made so as to refresh my memory, from time to time, of the steps needed to run this scan properly. And be handy should I need it in the future.

Thanks for another great scan.
TomCulberson
Posted : Sunday, July 23, 2006 5:11:47 AM
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Joined: 11/24/2005
Posts: 13
If appropriate, are you willing to post your document for others to study?
alindsley
Posted : Sunday, July 23, 2006 2:18:49 PM

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Joined: 2/28/2005
Posts: 825
QUOTE (TomCulberson)
If appropriate, are you willing to post your document for others to study?


It is just a clip of her comments. I'll include it here. I did it this way so the instructions wouldn't get lost from me. I dont see how to post the actual Word doc here or I'd do that.

Her 2nd scan is included just in case, one day, you might give instructions on how to create that one also <hint>.
*****************************************

Dame Learner’s Scan for Stocks that rise each of the last 4 quarters by more than 2.5% (to be seen in Sort Value Column of scan) Worden Report 11/12/2004

The values in the Sort Value Column are actual Fibonacci Retracement values as the video describes.

Dame Learner's scan for stocks with increasing EPS over the last 4 quarters

This is a link to the video to create her scan.

Choose Dame Learners EPS Scan
Sort by Price Percent Change Today pcf

“So in June I put my thinking cap on, deciding what I liked to see in a stock and set up one or two simple EasyScans. One looks for stocks with EPS increasing over each of the last four quarters by more than perhaps 2.5 %, and P/E less than 15 which means the Rank is less than perhaps 24. None of these numbers are set in stone, I juggle them so that the EPS gain in each quarter is approximately the same, and they can jump substantially from one Rank value to the next. My goal is to end up with fewer than 200 stocks in the end with good fundamentals. The count after each step in the EasyScan shows on the right enabling one to decide which attributes are most wanted and at what value. Once set I usually leave them as is.

“In the next step I use the Custom sort feature on Money stream, Right click on MS and then click Sort By in the dialog box, followed by Visual value which appears as the default, click OK . This is the reason I want less than 200 results. I use TCNet which Custom sorts only the top 200 stocks.

“The results of the Easy Scan are now displayed in order of descending Money stream. Those with MS values of 100 have it at its high for the time period displayed in the chart. There may be four or five there and I look a bit further down the list to see how those charts compare with their predecessors.

“My favorite indicators are TSV periods 18 and 8, BOP and Money Stream. Money stream is already optimized. These three happen to be the Worden proprietary indicators which is not the reason I choose them. They were the first indicators I realized I could read well and have a fair idea what the price was likely to do next. I have other favorite indicators that I can use well but that is another story for another day.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
“My second EasyScan is very similar. In this one instead of all 4 of the last Quarters, I only use the EPS change for the latest Quarter, then add Revenue Growth(for the last four quarters) in the top 50 percentile, Rank 50 to max, and PE Rank 1 to 43 which makes the PE value less than about 19. Again the values do not need to be fixed in stone but varied to give a desired not too large set of results. I use two versions of this scan, one for stock prices below 20 and the other for prices above 20. Each run typically yields around 150 to 200 results and only the ones with top MS values and good looking price charts and indicators make it the results watchlist.

“There are no Pcf's here, all the items are canned and easily added to the EasyScans directly from the drop down lists. My results over the summer have been very good. Several stocks have jumped magnificently a few trading days after purchase. One month this summer was my best ever for profits, quite spectacular. While I have learned to be a trader I am still a long term investor at heart and will let a stock run if it continues to show good potential. But with the surfeit of good looking charts that turn up each night I can be a trader and not an investor until the chaos of the market subsides, if it ever will.
rochcorp
Posted : Sunday, July 30, 2006 2:42:28 PM
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Joined: 6/26/2006
Posts: 7
QUOTE (Doug_H)
Click Databank|Personal Criteria Formulas|Update All Criteria. The program will then update all of your PCF's.




Hi Doug, I tried to do the same. But my system doesnt show the sort by " 26 week Retracement" pcf that is demonstrated on the video.

Can you please help?
Rochan
Craig_S
Posted : Sunday, July 30, 2006 3:53:29 PM


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Joined: 10/1/2004
Posts: 18,819
As shown in the video, you have to create this PCF.

The formula is in the video and under it.

Here is a video to watch if you are not sure how to create a PCF: How to create a Personal Criteria Forumula (PCF)

- Craig
Here to Help!
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