hi Bruce..

trying to reproduce the envelope channel settings from the video posted below by John David Hall on this date.

Posted : Thursday, August 14, 2008 9:54:03 PM

Every time I clik on "add indicator here" to the top window, it gives me a new indicator in a lower pane instead.  I see that there is now a custom envelope channel in TC but not sure how to get the settings to match if I were to use that..

As per the video, the envelope channel is top line 1 % above price and bottom line 1% below price.

Thanks for your assist.

The bands you appear to be describing were not added in the video using Envelope Channels (Finding Continuation Triangles And Wedges With Telechart). They were added by using TC2000 version 7's Custom Indicator. The same indicator in TC2000 version 12.3 or the TC2000 version 12.4 beta is called a Custom PCF Indicator.

I also cannot reproduce the issue you describe. When I click on Price History and select Plot New Indicator here... (in v12.3) or  Add Plot Here... (in the v12.4 beta) and choose Custom PCF Indicator from the list, the Custom PCF Indicator is plotted in the Price History pane. No new pane is created for the indicator.

You will need to do this twice. You will use a formula for 1% above the high for the first Custom PCF Indicator:

H * 1.01

And a formula for 1% below the low for the second Custom PCF Indicator:

L * .99

Thanks ..was cliking on the chart and not the price history..got it now.!

going along the video...I have the LR channels set up and showing on my chart and a watchlist on the Left.

It says to clik on  top line SORT BY LR and when i do that it opens up another watchlist instead of sorting in the current watchlist that is open.. How do I get it to sort in the current watchlist?  Thx

I am supposed to be looking for LR top lines that are negative numbers so that forms the top line of the triangle ( pointing down)_

He sorts by "visual slope"..How would I do that in the current watchlist

You can't do a visual sort based on linear regression slope in TC2000 version 12.3. There is a suggestion in diceman's Thursday, June 02, 2011 9:53:53 PM ET post in the same topic to use the following Condition Formulas as replacements. For downward highs:

9 * (H - H9) + 7 * (H1 - H8) + 5 * (H2 - H7) + 3 * (H3 - H6) + H4 < H5

And for upward lows:

9 * (L - L9) + 7 * (L1 - L8) + 5 * (L2 - L7) + 3 * (L3 - L6) + L4 > L5

That looks like it would be the slope of the highs and lows, not the slope of the LR lines..

Am i right?

You are half right. It checks for the slope of the highs and lows, but it also checks for the slope of the LR lines.

The first formula checks for the 10-period linear regression slope of the highs to be negative and the second formula checks for the 10-period linear regression slope of the lows to be positive. So it is checking based on the slopes of the highs and the lows as you have indicated.

That in mind, the LR lines are 10-period linear regressions of H * 1.01 and L * .99. The slope of the 10-period linear regression line of H * 1.01 will be negative only when the slope of the 10-period linear regression line of H is negative and the slope of the 10-period linear regression line of L * .99 is positive only when the 10-period linear regression line of L is positive.

Ok thanks a bunch.!

Ok so now I am wondering..Is there a way to combine those 2 pcfs...one showing the upper LR10 line sloping down while the other is sloping up in a single PCF to use in a scan as  a T/F condition.. That would greatly ease the ability to scan..

You can put an AND between them if you want one formula:

9 * (H - H9) + 7 * (H1 - H8) + 5 * (H2 - H7) + 3 * (H3 - H6) + H4 < H5 AND 9 * (L - L9) + 7 * (L1 - L8) + 5 * (L2 - L7) + 3 * (L3 - L6) + L4 > L5

You could also just add both of the shorter formulas to the same EasyScan.

Bruce..this is working well but Im finding I want to change the number of days frequentlyl to accomodate diff market conditions

Is there any way to make this condition into a slider somehow where I can just adjust the number of days instead of having to rewrite the formula each time?

Thx!

No, there is not. The formula needs to be rewritten for each period.

ok thx!

You're welcome.