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Registered User
Joined: 5/7/2010
Posts: 14
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CAN YOU HELP ME WITH SCAN OR PCF FOR BREAKING OUT FROM CONSOLIDATION. THANK YOU.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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What are your particular unambiguous objective defniitios of "breaking out" and "consolidation"?
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 5/7/2010
Posts: 14
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I want to see consolidation or bassing stocks for a few days ( the kind I can put a rectangle box around) and then a candlestick that is higher than the consolidation area. May be a gap or just a candlestic that breakout above the consolidation area. thanks.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I cannot algorithmicly define what you might see as a rectangle as that would be a subjective or an "I know it when I see it" type" description. What is required to identify something using a Condition Formula or Scan is as specific unambiguous definition. It needs to be objectively defined.
Is a few days the same as three days or some other number? Is the box defined by being within a certain net range or possibly a certain percent range compared to price, daily range, a longer period average or maximum range or something else entirely?
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 5/7/2010
Posts: 14
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I would define consolidation as when a stock that has not move +2% or more or - 2% or more new high or low in 10 or more trading sessions, and broke out of this range with a move of +1.5% or -1.5% or more new high or low from this range that is has been in for at least 10 trading sessions.Thank you.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I may be misunderstanding the definition, but you may wish to try using the following Daily Condition Formula as a Sort or Scan Condition:
MAXH10.1 / MINL10.1 <= 1.02 AND (C >= 1.015 * MAXH10.1 OR C <= .985 * MINL10.1)
Indicators, Sorting & Scanning
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 5/7/2010
Posts: 14
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Thanks you
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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