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Registered User
Joined: 10/7/2004
Posts: 1,178
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First, today TMST opened at 13.78 just above the Pivot Point at 13.813 and MRK opened at 64.00 just above the Pivot Point at 64.017.
In such examples, one cannot use Price Crossing Up the Pivot Point.
Can you please provide a PCF for an Opening is above and very near the Pivot Point, using a flexible percent of distance from the Pivot Point.
Second, today HLF opened at 72.70 just below the Pivot Point at 72.957 and descended from there.
In such examples, one cannot use Price Crossing Down the Pivot Point.
Also, I'd like a Custom PCF for an Opening is below and very near the Pivot Point, using a flexible percent of distance from the Pivot Point.
Thanks, Bruce!
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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A Condition Formula for price opening within 1% of the Pivot Point can be written as follows.
100 * ABS(O / ((H1 + L1 + C1) / 3) - 1) <= 1
A Condition Formula for price opening at or above the pivot but within 1% can be written as follows.
H1 + L1 + C1 <= 3 * O AND 100 * O <= 101 * (H1 + L1 + C1) / 3
A Condition Formula for price opening at or below the pivot but within 1% can be written as follows.
99 * (H1 + L1 + C1) / 3 <= O AND 3 * O <= H1 + L1 + C1
-Bruce
Personal Criteria Formulas
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Registered User
Joined: 10/7/2004
Posts: 1,178
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I thoroughly tested each PCF and here are the results:
The first PCF below has triggered 4,158 of 5047 in my Watchlist.
100 * (O / ((H + L + C) / 3) - 1) <= 1
The second PCF below triggered zero of the 5047 in my Watchlist.
99 * (H + L + C) / 3 <= O AND 3 * O <= H + L + C
How about an indicator that show how, in percent, the Open is from the Pivot Point?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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There was a mistake in the formulas when I originally posted them, and it looks like you copied and pasted the formulas before it was fixed. You well need to copy and paste them again to get the correct values (otherwise it will be using today and instead of yesterday to calculate the pivot point).
An Indicator Formula for how far the open was above or below the pivot point expressed as a percentage can be written as follows.
100 * (O / ((H1 + L1 + C1) / 3) - 1)
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/7/2004
Posts: 1,178
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The indicator below is very helpful.
100 * (O / ((H1 + L1 + C1) / 3) - 1)
By looking for an Open below the Pivot Point (by -4.899%) for GYLC a day trader can watch the stock decline to its' Low, then reverse up, providing a very nice gain of approximately $2.48 per share.
The Rahul Mohindar Oscillator (RMO) as a confirming Entry Indicator as well as Volume Buzz (as long as the Buzz remains high).
Thanks, again, Bruce!
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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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Registered User
Joined: 10/7/2004
Posts: 1,178
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Can we now take a look at this same idea...
100 * (O / ((H1 + L1 + C1) / 3) - 1)
this time calculated for each of the three Support Pivots as well as the three Resistance Pivots?
Thanks!
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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R4:
100 * (O / ((7 * H1 - 5 * L1 + C1) / 3) - 1)
R3:
100 * (O / ((5 * H1 - 4 * L1 + 2 * C1) / 3) - 1)
R2:
100 * (O / ((4 * H1 - 2 * L1 + C1) / 3) - 1)
R1:
100 * (O / ((2 * H1 - L1 + 2 * C1) / 3) - 1)
PP:
100 * (O / ((H1 + L1 + C1) / 3) - 1)
S1:
100 * (O / ((2 * L1 - H1 + 2 * C1) / 3) - 1)
S2:
100 * (O / ((4 * L1 - 2 * H1 + C1) / 3) - 1)
S3:
100 * (O / ((5 * L1 - 4 * H1 + 2 * C1) / 3) - 1)
S4:
100 * (O / ((7 * L1 - 5 * H1 + C1) / 3) - 1)
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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