QUOTE (Bruce_L)
The request could be interpreted a variety of ways, but the following TC2000 v17 Condition Formula would represent what I would think is the most literal interpretation.
H > MAXH9.1 AND MACD12.26 < MACD12.26.1
It requires price to make a new 10 bar high with the raw MACD dropping from the previous bar to the current bar. You would set this to a 5 minute time frame if you wanted to be checking a 5 minute chart.
A similar Condition Formula for the low would be as follows.
L < MINL9.1 AND MACD12.26 > MACD12.26.1
TC2000 does not have any built in backtesting features, but you can "visually backtest" the Condition Formulas by using each Condition Formula as the Boolean Formula in a Custom PCF % True Indicator. This will plot spickes on the chart where the Condition Formula was true in the past.
Thank you very much, Bruce
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Hi
I'm using 5 minute chart, for last 10 bars. Can you please help me with formula for following
1) Price makes new high but MACD moves lower
2) Price makes new low but MACD is moving higher
Also, appreciate if you could point me towards backtest the formulas
Thanks in advance
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