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Restraint
Posted : Thursday, March 22, 2018 10:57:57 AM
Registered User
Joined: 1/26/2018
Posts: 2
Any chance you could write this formula for me please ?
 
Price New HOD
Price $15-250
Daily Volume 300,000/day
Relative volume 1.25 normal
Volume today >500,000
5Min volume 175% normal
Up Atleast 4 candles in a row 5min
Price Up >$0.50 last 30min
RSI >75 2min
Price >2% above VWAP
Price is atleast 100% above lower Bollinger band
Bruce_L
Posted : Thursday, March 22, 2018 11:24:52 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

There isn't a way to do everything you want. You will need multiple formulas in different time frames. Some of the stuff will need to be create using a technique other than formulas. Create each of these conditions individually and then add all of the conditions to the same scan.

Price New HOD can't be done. About the best you can do is check for the current price being the high in a daily time frame.

H = C

Price being between $15 and $250, volume today greater 500,000 shares and average daily volume being at least 300,000 shares (using 21 days) can use the following daily condition formula.

15 <= C AND C <= 250 AND V > 500000 AND AVGV21 >= 300000

Relative volume being 1.25 times normal should probably be done as a sort using Volume Buzz (you can't scan using Volume Buzz).

Today's Volume Buzz

That said, you could check for the total volume today being at least 1.25 times the average volume.

V >= 1.25 * AVGV21

The following 5-minute condition formula checks for the volume of the current 5-minute bar to be at least 175% of the average volume over the previous 499 bars (you can reduce that period but probably shouldn't increase it) and to be up at least 4 candles in a row (assuming up means net change).

TrueInRow(C > C1, 4) = 4 AND V >= 1.75 * AVGV499.1

If you want open vs close instead.

TrueInRow(C > O, 4) = 4 AND V >= 1.75 * AVGV499.1

The following condition formula in a 1-minute time frame checks for price to be up greater than $0.50 in the last 30 minutes.

C >= C30 + .5

The following assumes you want a 14 period Wilder's smoothed RSI and should be in a 2-minute time frame.

WRSI14 > 75

If you want a plain 14 period RSI without Wilder's smoothing, get rid of the W in the formula.

RSI14 > 75

You didn't specify a time frame for price being at least 100% above the lower Bollinger Band (the following assumes simple Bollinger Bands 20, 2.00), but you can set the time frame as desired.

C >= 2 * BBBOT(2, 20)

The condition for price being 2% above the VWAP also didn't specify a time frame and it can't be created using a formula.

Start by adding 1-period Envelope Channels to the VWAP indicator with the Width (%) setting set to 2.00%.

Then click on the name of the Envelope Channel indicator on the chart and select Create Scan Condition...

Choose Above Envelope Channel 1 0.25 Chan Top in the Price History vs Envelope Channel 1 2.00 section of the Condition drop-down menu to create the condition.

You can remove the Envelope Channels from the chart once you have created the desired condition.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
Restraint
Posted : Thursday, March 22, 2018 12:09:37 PM
Registered User
Joined: 1/26/2018
Posts: 2

Thank you ! Bruce 

Bruce_L
Posted : Thursday, March 22, 2018 12:14:43 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

You're welcome.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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