TC2000.com• Download software • Tutorial videos • Subscription & data-feed pricing • Class schedule
TC2000Brokerage.com• New account application • Trading resources • Margin rates • Stock & option commissions
Worden Discussion Forum
Customer Training & Support
PCFs, EasyScan and Custom Indicators
Consecutive Green Candles w/ Decreasing Vol
I'd appreciate if you could help me plot the following on an EasyScan setup:
- stock is up on the day
- at least three green 5-min candles
- price change of the three green candles needs to be at least $0.50
- decreasing volume for the three 5-min candles
You will want to create a daily Condition Formula for the stock is up on the day portion. If you mean the close is higher than the previous close.
C > C1
If you mean the close is above the open.
C > O
If you require both.
C > O AND C > C1
You will add this daily Condition Formula to the same EasyScan as another Condition Formula set to use a 5 minute time frame instead.
If Color Based On is set to Net Change, a green candle is when:
C >= C1
If Color Based On is set to Open vs Close, a green candle is when:
C >= O
The following assumes Color Based on is set to Open vs Close since this is them more common setting for candles, but you can change the C >= O to C >= C1 if Color Based On is set to Net Change instead.
TrueInRow(C >= O AND V < V1, 3) = 3 AND C >= C3 + 50 / 100
This also assumes you mean green candles and not up condles. You can get rid of the equality sign in the C >= O or C >= C1 in order to eliminate cases where price is not actually up.