Gold Customer
Joined: 12/7/2007 Posts: 88
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If I write a PCF that says H>=MaxH10.1, for today's date, that compares the number of hitting higher new highs today versus any new highs as counted between April 9-April 23, CORRECT?
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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It has nothing to do with the number of symbols hitting new highs. It is checking that the high for current bar for the individual stock for whic the formulas is being calculated is greater than or equal to the highs for the prior ten bars for that same stock.
On a Daily chart, it would be comparing the the high of April 23, 2013 to the highs of April 9 throgh the 22, 2013 if it is run at a point where April 23, 2013 is the most recent available Daily data.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Gold Customer
Joined: 12/7/2007 Posts: 88
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Sorry, to be more clear, the PCF is run on a stock universe, not a single stock, so it counts the numbers of stocks in the universe hitting new highs in the current bar vs at any time over the last 10 prior bars. And if April 23rd is the current bar then the last bar back is April 9. Do I have that all correct?
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Just to clarify, you may be using the Condition Formula as an EasyScan Condition or WatchList Column and obtaining a count by checking the number of symbols in the EasyScan or sorting the WatchList Column and checking how far down in the list the true results end, but the Condition Formula itself does not and cannot return a count.
My previous response was quite specific in what it represents (although I am sure there are still multiple ways to interpret it despite my attempts to limit the possible interpretations). That is what your formula means.
The language used in your posts can be interpreted to mean what I indicated the formula represents. That said, the language used in your posts can be interpreted to mean many other things as well. As a result, I cannot say if the formula matches your English language description of the formula.
For example you use the term "new high". I personally would not consider your formula to be checking for a new high because it allows for equality. In my mind, a high isn't "new" if it also happened during a prior bar in the period as that high was already reached.
The phrase "new highs today versus any new highs as counted between April 9-April 23" is also a bit odd even when discounting the word "new". Assuming "today" is April 23, the comparison would actually be to the highs of April 9 through April 22 and not April 9 through April 23. And absolutely no comparison is made of counts.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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