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Registered User
Joined: 6/28/2005
Posts: 9
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Why is it when I tried to run the PCFs for bullish engulfing I don't get the same results as the video. I don't see any clear bullish engulfing candlesticks pattern.
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Let me start by asking: Have you updated your PCF's based on the latest data you have downlowded? Also, is your chart scrolled all the way forward so that the last visible bar on the right is the most recent bar?
I have tested the video procedures using last night's market closing data, and my scan comes up with 166 stocks...all of which clearly show a bullish engulfing pattern for Thursday and Friday (remember, this is a two day pattern).
- Doug
Teaching Online!
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Registered User
Joined: 6/28/2005
Posts: 9
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Yes, I have updated my PCFs and also scrolled all the way forward. I came up only with 28 charts all of which is not clearly bullish engulfing patterns. I also check on the validity on each of the formula and tested okay.
Thanks.
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Here are the four PCF's you need:
1. Close as % of Open Yesterday
(C / O1) * 100
2. Open as % of Close
(O / C) * 100
3. Open as % of Close Yesterday
(O / C1) * 100
4. Open Yest as % of Close Yest
(O1 / C1) * 100
Once you update these formulas (make sure you update them for All Items in System), build an EasyScan to include all four conditions. Set each condition as follows:
1. Set for Values from just over 100 to MAX
2. Set for Values MIN to just below 100
3. Set for values MIN to just below 100
4. Set for values from just over 100 to MAX
If you set your scan up this way (with the WatchList to scan set to All Stocks), you should wind up with 166 stocks in your scan, all with obvious bullish engulfing patterns.
Double check your work. I've got it set up this way on my TeleChart, and yours should be no different.
- Doug
Teaching Online!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Be sure you are on a DAILY chart and your charts are not clipped back in time...
- Craig
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