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Registered User
Joined: 10/7/2004
Posts: 3
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I am having a problem adding Price Channels to my charts. I am opening the tap entitled "Chart Template" and then clicking on the "Add Indicator." A box then opens to the right with a number of options. I am then selecting and clicking the "Price Channel" at which point another box opens entitled "Price Channel Settings." In the options there I am selecting "visible." For the Smoothing Average I am selecting "Simple" and then putting 10 in the box to the right. For the "Width Multiplier" I am using 20. In the "Indicator Line Formula" box I put (H+L)2.In the "Channel Width Formula" box I put H-L.I am getting a Price Channel, but both the bottom and top lines are considerably above the Candlesticks. I went to "Support" and James referred me to you for a solution to this.How do I set this up so the Price Channel actually surrounds the price?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Welcome to the forums. A very good foundation for learning how to use TeleChart can be gained by reviewing the following:
If you are new to TeleChart READ THIS FIRST!
Try replacing:
(H+L)2
With:
(H + L) / 2
Handy PCF example formulas to help you learn the syntax of PCFs!
PCF Formula Descriptions
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/7/2004
Posts: 3
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I am not new to TeleChart and have had no issues with any indicators or pcf that I have used until now. The issue now is simply how to plot a Price Channel around the price and not considerably above it.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
Have you tried my suggestion?
(H+L)2
Is not valid syntax and is probably being interpreted as either:
H + L
Or as:
(H + L) * 2
The first would be twice the midpoint of the Price Bar while the second would by four times the midpoint of the Price Bar. Your intent would seem to be to take the Moving Average of the Midpoint of the Price Bar to use as the centerline. If so, you should use:
(H + L) / 2
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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