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Worden Discussion Forum » Customer Training & Support » PCFs, EasyScan and Custom Indicators » PCF for cup with a handle

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gurdeep
Posted : Wednesday, April 6, 2005 8:06:37 AM
Registered User
Joined: 3/23/2005
Posts: 3
 Hello,
Is it possible to create pcf for cup with handle, with following conditions-
Cup and handle- 7-15 weeks

- Left side of the cup 2-5weeks
- Volume drying on left side
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Craig_S
Posted : Wednesday, April 6, 2005 8:38:43 AM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819
 I've tried to make a method for finding cups with handles but the pattern has too many variables. Here is something to try:

AVGC5/AVGC10.40*100

This compares the recent prices to the prices 40 or so bars ago. In theory, the left and right side of your cup. You would want them to be similar so set your values to around 100 (a bit above and below it)

MINL50/MAXH50*100

This returns the lowest low of the last fifty days as a percent of the highest high. This determines the cup's depth. I would put the first condition above in an EasyScan then sort the results by this condition in ascending order.

C+H is a rare pattern within a set time frame. You will have to look through many charts over many weeks before you find a textbook version.

QUOTE
Volume drying on left side


Do you mean recent volume (the right side of the handle?) Please elaborate on this a bit for me.
- Craig
Here to Help!
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gurdeep
Posted : Friday, April 8, 2005 8:04:33 AM
Registered User
Joined: 3/23/2005
Posts: 3
 Hi,
Thanks for help. What I meant was Trading vol in the lower part of the handle and for a week or two along the bottom of the cup declines or dries up to very low level.
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Craig_S
Posted : Friday, April 8, 2005 8:56:15 AM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819
 Because the pattern for price alone is so rare I would search for that then eye-ball the volume.

My biggest fear is getting too restrictive and the program hiding charts that our eye will see as the pattern but that does not fit the math we are using to search.
- Craig
Here to Help!
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