Registered User
Joined: 5/12/2005
Posts: 49
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Fellow traders
I've noticed a common thread in stocks that have broken out and it is that they go through a period of 'tightening' (consolidation) where the deviation between upper (high) and lower (low) gets tighter for a period of 4-21 days then breaks out into new highs on higher than 4-21 day average volume also the low is usally never lower than the average low for 50 days. The tightening is similar to a snake coiling before a strike. My question is this can someone with more PCF savy than me help to write this PCF and possibly give other suggestions.
Still Learning...
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Try these PCFs
Recent Avg Range as % of older range
(AVGH10-AVGL10)/(AVGH11.10-AVGL11.10)*100
21-day low as % of 50-day low
MINL21/AVGL50*100
Add them both to an EasyScan with these settings:
Recent Avg Range as % of older range
(set to VALUES MIN to 100)
21-day low as % of 50-day low
(set to VALUES 100 to MAX)
Sort your resulting WatchList that is generated by the scan by
Recent Avg Range as % of older range in ascending order.
Let me know what you think....
- Craig
Here to Help!
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Registered User
Joined: 5/12/2005
Posts: 49
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Craig
WoW - this looks just perfect, thanks for your quick response (under 10 mins). The reason I stayed with Worden after the trial was because of the customer care, You guys really care...
Still Learning...
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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So glad to hear it...!
You know where to find us if you need more help in the future!
- Craig
Here to Help!
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Registered User
Joined: 7/18/2005
Posts: 156
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Hello!
Can you modify the formula so that you find stocks that have made the breakout after consolidation?
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Here is a video I think you will enjoy... it will find stocks consolidating and breaking out.
EasyScan Design for Breakouts and Bouncers
- Craig
Here to Help!
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Registered User
Joined: 7/18/2005
Posts: 156
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Thanks! Charts are more interesting and I have flexibility adjusting the Easy Scan.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Great! Here are two other semi-related videos you might like as well.
Spotting trend changes using linear regression channel sorts
Scan for stocks bouncing in a lateral channel
- Craig
Here to Help!
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Registered User
Joined: 10/7/2004
Posts: 799
Location: Duluth, GA
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Also you might consider looking for squeezes of the Bollinger Band channels which rapidly expand as a new trend begins. Lots of info about BB's in this forum ... just do a search on them.
Jim Dean
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Here is a video on finding expanding/contracting bands.
Finding Expanding or Contracting Bollinger Bands
- Craig
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Registered User
Joined: 10/7/2004
Posts: 13
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Craig
I constructed the easy scan that you put together on 7/15/05 for STILL-LEARNING. The resulting charts are truncated at the end of April. The price graph becomes a flat line from June through the present time. What am I doing wrong? I'm using TeleChart 2002.
Larry
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Registered User
Joined: 10/7/2004
Posts: 13
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Craig
Sorry for the typo, Im using TeleChart 2005.
Larry
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Any EasyScan cannot affect the charts themselves. EasyScan only finds tickers based on conditions.
Are all of your charts like this?
Can you give us some example tickers?
- Craig
Here to Help!
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Registered User
Joined: 10/7/2004
Posts: 13
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Craig,
The scan returned 842 stocks. Sorting in ascending order the stock charts are truncated (DIGL,PGTV,DCLK,CMNT are a few examples). I just tried a descending order sort and it appears that the stock charts at that end are OK. Am I incorrectly interpreting the scan?
Larry
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Gotcha... it is not all of the stocks.
Add this PCF to your system and to the EasyScan. These are dead stocks that have not been dropped yet. This PCF will make sure the EasyScan only finds stocks that have traded in the last 2 months.
AVGV42>=1
I will look into why these tickers are not being tossed at the source.
- Craig
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Try adjusting the following EasyScan condition:
Recent Avg Range as % of older range
(set to VALUES MIN to 100)
Change Min to the smallest available non-zero value. It should eliminate any symbols flatlined for the last ten days.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/7/2004
Posts: 13
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Craig,
The scan returned 842 stocks. Sorting in ascending order the stock charts are truncated (DIGL,PGTV,DCLK,CMNT are a few examples). I just tried a descending order sort and it appears that the stock charts at that end are OK. Am I incorrectly interpreting the scan?
Larry
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Larry,
Did you read my and Bruce's response to your question (the two posts above your last one)
Use either suggestion to rid yourself of these dead stocks. The scan is fine. Technically these flat stocks are bouncing in a VERY tight channel. See why they showed up?
- Craig
Here to Help!
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Registered User
Joined: 10/7/2004
Posts: 13
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Thanks guys. That did the trick.
Larry
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Registered User
Joined: 5/2/2005
Posts: 5
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I dont know whatI am doing wrong but I am not having any luck with the Scan I set up for " Easy Scans for Stocks Getting Ready to Breakout". I Copy and Pasted the Formulae to Easyword and printed it so I would have the Formulae in front of me when i made the PCF's and the scan.
There are some stocks that show what I want but others seem to be totally out of the ballpark.
I am trying to find stocks that have had an average price move of say 5% or less daily over the last 15 to 25 trading days and today have had a price move of over 5%.
I would appreciate any help. Gary
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Create this PCF:
Average Price % Range (not today)
(AVGH24.1-AVGL24.1)/AVGL24.1*100
Add it to an EasyScan and limit the VALUE to MIN to 5
Then add Price Percent Change Today (not a PCF) and limit the values to 5 to MAX
Here are some videos to review
How to create a Personal Criteria Forumula (PCF)
Using EasyScan to find stocks that meet your own criteria
- Craig
Here to Help!
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Registered User
Joined: 3/3/2005
Posts: 15
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Craig:
I'm looking for scan criteria where at least the last five candles have closed with relatively equal highs, can i do that and if so, how?
thanks,
v
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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One way might be to create these five simple net change PCF's. Use all 5 in a scan, and you can use the range selector to specify what relatively equal means.
C-C1
C1-C2
C2-C3
C3-C4
C4-C5
- Doug
Teaching Online!
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Registered User
Joined: 3/3/2005
Posts: 15
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what is a "range selector?"
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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vantana,
There are several ways to do this, but you might wish to try the following:
100*(MAXH5-MINH5)/(MAXH90-MINL90+.0001)
The result is ratio of the range of the Highs for the last 5 Periods to the Price Range over the last 90 Periods expressed as a percentage. When using the result for sorting or in EasyScans, the smallest values shoud be the symbols you want. You may be interested in the following forum topic and videos:
How to create a Personal Criteria Forumula (PCF)
Using EasyScan to find stocks that meet your own criteria
Constructing more versatile and reusable Personal Criteria Formulas
Create your own stock rankings using WatchLists and Sort conditions
Sorting Stocks by their Absolute or Relative Performance
Handy PCF example formulas to help you learn the syntax of PCFs!
The Rangefinder is used to restrict the results for a condition in an EasyScan. The second video listed above provides a detailed explanation.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 3/3/2005
Posts: 15
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thanks Guys!
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Registered User
Joined: 5/2/2005
Posts: 5
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QUOTE (ggalvin) I dont know whatI am doing wrong but I am not having any luck with the Scan I set up for " Easy Scans for Stocks Getting Ready to Breakout". I Copy and Pasted the Formulae to Easyword and printed it so I would have the Formulae in front of me when i made the PCF's and the scan.
There are some stocks that show what I want but others seem to be totally out of the ballpark.
I am trying to find stocks that have had an average price move of say 5% or less daily over the last 15 to 25 trading days and today have had a price move of over 5%.
I would appreciate any help. Gary
Thanks Craig - I really appreciate the info. Sorry I have been so long getting back to you. I set it up yesterday and it seems to do the job. I will play with it some more today and maybe tweak it a bit. Thanks again for the great support ggalvin
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Registered User
Joined: 5/2/2005
Posts: 5
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Craig S;
Thanks for the reply and very quickly as well. I have been away and just got a chance yesterday to set up your reply and it seem to work really well. I am going to play with it some today . Thanks again for the great service. Gary
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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So glad to hear it works for you!
It was my pleasure....
- Craig
Here to Help!
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Registered User
Joined: 2/28/2005
Posts: 825
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I've been sitting here playing with an EasyScan which I made from the pcf Bruce gave us above on <Thursday, August 25, 2005 11:55:01 AM >. I'm hoping you can tell me what I am doing wrong.
I set the VALUE of the pcf from the code Min to 10 (& I'm not really sure where that should set). Then I added Price Per Share Value Min to 10. Watchlist set to All Stocks. I was attempting to keep my results <$10.
But when I run my scan (called Last 5 Days Closing Higher), I never get what the scan title implies. I fiddled with the code conditions to no avail  . I have watched some of the other films above but that doesn't seem to help me understand what I am doing incorrectly.
Thanks for your help!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Do this:
Create an EasyScan for stocks under 10. If you are not sure how to do that, check out this video:
Using EasyScan to find stocks that meet your own criteria
Once you have Bruce's PCF in your system (exactly as he gave it above), sort your resulting WatchList by his PCF in ASCENDING order. It will bring the ones with the smallest values to the top. Flip through these charts and see if any fit your fancy.
If you need to, here are some more videos to review:
How to create a Personal Criteria Forumula (PCF)
Create your own stock rankings using WatchLists and Sort conditions
- Craig
Here to Help!
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Registered User
Joined: 3/15/2005
Posts: 3
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Hi Craig,
Sorry I may be having a blonde moment here. I am still not sure how do do use these formulas, how do I add them and set the limits.
Sorry for the inconvenience...
Many Thanks
Zahid
QUOTE (Craig_S) Try these PCFs
Recent Avg Range as % of older range
(AVGH10-AVGL10)/(AVGH11.10-AVGL11.10)*100
21-day low as % of 50-day low
MINL21/AVGL50*100
Add them both to an EasyScan with these settings:
Recent Avg Range as % of older range
(set to VALUES MIN to 100)
21-day low as % of 50-day low
(set to VALUES 100 to MAX)
Sort your resulting WatchList that is generated by the scan by
Recent Avg Range as % of older range in ascending order.
Let me know what you think....
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Watch the PCF video I linked above. The two formulas I gave are PCFs and you need to put both in your system and calculate them. The video will show you how to do that.
Once you have them, they become regular criteria you can use in an EasyScan. Add them both to a new EasyScan. Watch the EasyScan video to review how to add a condition, set the range selector to VALUE and to limit the values.
I think these both make a nice sorts as well so be sure to watch that video as well.
I think the videos above have everything you need. Check them out.
A note to everyone who reads these forums....
I know Doug, Bruce and I link a video to almost every post we make. We do it because they are the best way for you to learn and get the most value from your TeleChart. They are only a few minutes long but they are PACKED with information. Trust me, they are worth the ten minutes.
- Craig
Here to Help!
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