Registered User Joined: 4/17/2014 Posts: 27
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Good morning Bruce (and everyone else),
Sorry about the obnoxious title, but I figured if it was catchy I'd get more eyes on it... :)
I'm trying to figure out how to write a PCF for a scan for finding stocks that have wide swings in price, several sessions in a row. So for example, a stock that moves >3% each session (up or down, I don't care), for X sessions in a row.
What I'm looking for are stocks that offer reasonable movement every day (or say, every day for a week), rather than just a single day. The problem with most of the scans I've seen which look for percent gains is they pull up a bunch of stocks with good price action in ONE session - but that is more often that not an anomaly for that particular stock.
If I can run a scan with variables for both the movement I'm looking for (X% up OR down), and the number of consecutive sessions, then I would think I'd get a good selection of viable intraday candidates which could then be culled further. The scan could also be modified by traders who use shorter timeframes than daily to find candidates for edges that require intraday swings.
I hope that makes sense; as always thanks in advance for any guidance anyone can provide!
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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The basic technique for checking for something being true at least x consecutive bars is explored on the following webpage.
Condition True at Least x Bars in a Row
So all you need to add to this is a Condition Formula for moving a certain percentage. If you mean from one close to the next.
ABS(C / C1 - 1) > .03
If you mean from open to close:
ABS(C / O - 1) > .03
If you mean from high to low:
H > 1.03 * L
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 4/17/2014 Posts: 27
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MANY thanks Bruce. As always, your wizardry is deeply appreciated!
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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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