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Wick Pressure Rate this Topic:
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traderlady
Posted : Friday, September 08, 2017 5:25:09 PM
Platinum Customer Platinum Customer

Joined: 10/7/2004
Posts: 975

How about a PCF for longs in which the lower bullish wick pressure is greater  than the upper bearish wick pressure?

And, one for shorts in which the upper bearish wick pressure is greater than the bullish wick pressure?

StockGuy
Posted : Saturday, September 09, 2017 3:53:43 PM

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Joined: 9/30/2004
Posts: 8,868

How do you define "wick pressure"?

traderlady
Posted : Sunday, September 10, 2017 11:49:55 AM
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Joined: 10/7/2004
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Bullish pressure is when lower wicks are greater than uper wicks.

Bearish pressure is when upper wicks are greater than lower wicks.

Bruce_L
Posted : Monday, September 11, 2017 9:56:53 AM


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Joined: 10/7/2004
Posts: 61,018

Bullish Pressure:

H - GREATEST(O, C) < LEAST(O, C) - L

Bearish Pressure:

H - GREATEST(O, C) > LEAST(O, C) - L



-Bruce
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traderlady
Posted : Monday, September 11, 2017 1:43:57 PM
Platinum Customer Platinum Customer

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Posts: 975

After testing, I found an anomaly.  An example is UVXY today. 

Notice its' Open and High are the same at 29.54.

It's lower Wick is what we would expect.  Now, at 10:40 EST, the Low at 28.02 is a little less than the Last 28.13.

Thus, I would expect Bullish Pressure to be True.

When I place Bullish Pressure on my Daily 3M chart, UVXY doesn't register as having Bullish Pressure (even though very small).

I observed that whenever the top or the bottom of the candle is a Belt Hold, the Pressure PCFs don't register.

Is there any way to modify these PCFs to fix this anomaly, Bruce?

 

 

 

Bruce_L
Posted : Monday, September 11, 2017 1:55:55 PM


Worden Trainer

Joined: 10/7/2004
Posts: 61,018

Bullish Pressure does currently return true for UVXY on a daily time frame for me. I do not have the slightest idea why it wouldn't be returning true for you if plotted as a Custom PCF % True Indicator on the chart.

If you were using the formula in a WatchList Column or as an EasyScan Condition, my guess would be that the refresh rate is set to manual or something where it just isn't current, but that should not apply to an indicator on the chart.



-Bruce
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traderlady
Posted : Monday, September 11, 2017 2:44:48 PM
Platinum Customer Platinum Customer

Joined: 10/7/2004
Posts: 975

I did a quick test with an Easy Scan with two criteria, and the charts appear to be accurate in showing the Pressure.

However, when I use my typical Easy Scan with eight criteria, the results of the scans come up quickly, but  the chart is inaccurate.  Each of the eight criteria appear to calculate fast, but I can double check this later.

You said the charts below the Easy Scans should be accurate, nevertheless.  But, they're not.

Any more ideas why?

Bruce_L
Posted : Monday, September 11, 2017 2:47:22 PM


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Joined: 10/7/2004
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No, seriously, I do not know why. I cannot reproduce the issue using Custom PCF % True Indicators on a chart. Please contact technical support.



-Bruce
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traderlady
Posted : Monday, September 11, 2017 2:54:52 PM
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Joined: 10/7/2004
Posts: 975

I've noticed at other times that when I've worked on and changed things while the market is open, sometimes an issues resolves after the market close or by the market open ( can't remember exactly).

Also can't remember exactly what I've worked on when this happens.  Could be PCFs, Easy Scans, Columns, or Charts...

I will contact tech support if this continues.

Thanks for your PCFs and advice.

Bruce_L
Posted : Monday, September 11, 2017 2:57:12 PM


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Posts: 61,018

You're welcome.



-Bruce
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bcochrane
Posted : Monday, September 11, 2017 3:20:40 PM
Gold Customer Gold Customer

Joined: 9/17/2010
Posts: 333

This MAY account for the difference:

THere are three settings for handling after hours data:

  1. Never show Pre/Post Market data
  2. Only outside of normal market hours
  3. Always

If the second is selected, then charts can be different during versus outside normal market hours. It did account for a difference that I saw.

 

Bruce_L
Posted : Monday, September 11, 2017 3:22:34 PM


Worden Trainer

Joined: 10/7/2004
Posts: 61,018

That can make a difference between a WatchList Column or EasyScan and the chart, but it shouldn't make a difference between the candle on the chart and a Custom PCF % True Indicator on the same chart.

The only thing that really comes to mind where the chart of price might not match a Custom PCF % True Indicator on the same chart is if the chart is using Heiken-Ashi candles.



-Bruce
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