Registered User Joined: 9/17/2010 Posts: 484
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http://stockcharts.com/articles/chande/2017/04/engage-more-closely-with-the-market-via-the-trend-check-carpet.html
I'm intrigued by this approach, if only because I like Chande's work (Aroon,etc)
I have it setup to display as row of dots on bottom panel of a chart using variations of -2/ABS(AvgC40>BBBot(.5,200) and AvgC40<BBTop(.5,200)) Custom PCF Indicator, separate rows for each time period (Well, I've done 3 of the 4,anyway).So I've ended up with 9 (will be 12) different Custom PCF Indicators.
First, in the interests of elegance, is there a way of combining the three PCF's for one time frame (Bull, Neutral and Bear) into one?
Second, is there any way of having these display as dots in a watchlist, with one column for each time frame, three different color dots for each cell?
A True False column won't work, as I need three states. I'm trying the Positive, zero, negative column with the following formula
ABS(AvgC40>BBTop(.5,200)) - ABS(AvgC40<BBBOT(.5,200)) which returns 1, 0 or -1, which is accurate, but not as elegant as Check marks etc.
My next thought is to sum all four time frames using the appropriate variations of the formula in the preceding paragraph. 4 is bullish across all 4 timeframes, -4 is likewise bearish.
Any thoughts on how I could improve my approach?
Thanks
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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There isn't a way to do dots on the chart in different colors without using separate formulas for each color.
If you are OK with a separate indicator for each time period you could get two colors by using the Histogram instead Dots Plot Style by having one color positive and the other color negative (and if you have a centerline and plot 1 / 0 when the other colors aren't true, you can kind of get a third color), but I have never figured out a way to make this as visually appealing or space efficient as the dots for this type of thing.
If you want 3 colors, your approach would seem optimal in the WatchList Column.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 9/17/2010 Posts: 484
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Thanks
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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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