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Worden Discussion Forum
I'm trying to create a scan to identify Inside Days, but haven't been able to. Here's just some information about Inside Days to help understand what I'm trying to accomplish:
That was it. It worked. Thanks a bunch for all your help.
I talked to Support and they were able to help me. Thank you for following up. NOw, I realized that I also missed another aspect of this formula that I didn't communicate with you. I would like the previous 5 bars (periods) to be all greater than zero (for the strategy that looks for change > 2.97%.
In other words, I would like for the previous 5 bars to be green. Conversly, for the strategy that I would like to find stocks that their previous 5 bars have been < -3.27%, I would like all previous 5 bars to be negative (red candle sticks).
The formula that you gave me, gives me the right stocks, but I would like to filter down those results to only the ones that the previous consecutive 5 bars are either positive or negative. I realize, I have to have two scans: One scan for up moving stocks (5 green bars that their price has changed more than 2.97%) . Second scan that looks for stocks that their price has been moving down (5 consecutive days, 5 red bars, price change > -3.27%).
I think we're almost there. I just need to refine it more. What do I need to add to the scan you gave me? What is the formula?
I talked to s aupport person on Saturday, but not sure if he had a bad day or what, but he was no help, even though I had all the formula and everything needed. I even asked if there's a way for him to control my desktop screen so he can see what is on my screen, but he just wasn't in the mood of helping. Oh well. May be another day, another support person. I'm going to try again on Saturday.
Bruce, what type of support does Worden offers if I was to call and see if someone can help me set this up at support center? I think we're close to nailing this down.
Thanks Bruce. A few questions:
"You could create this as a Custom PCF Indicator, set the Active Symbol to SP-500 on a Daily chart, click on the Custom PCF Indicator and select Set Alert to create an Alert for the SP-500 symbol having this value Greater Than 2.97 or Less Than -3.27."
HOw do you do the above? I tried to set alert, but the alert only uses price.
Wouldn't these two formulas be close as oppose to open of the market 5 days ago? or is that not the case? Would it still alert if it was close as opoose to open in the following two formulas you suggested?
C <= .9673 * O5
C >= 1.0297 * O5
Dear TC 2000 Trainer,
I am looking for a formula or a scan that can find me the following condition about SPY (SP500 index):
I would like to know (notified by email or by interactive scan of TC2000) If the 5 day (consecutive days) change of SPY is greater than 2.91% (uptrend pattern)
I would like to know (notified by email or by interactive scan of TC2000) If the 5 day (consecutive days) change of SPY is lower than 3.27% (downtrend pattern)
At the close of the market (4pm ET) each day, I would like to calculate the change of the S&P 500 over the last 5 trading sessions.
Here's what I think the formula should look like:
(Closing Price Today of the S&P 500 Index (SPY) - Opening S&P 500
Index (SPY) Price 5 Days Ago) / Opening S&P 500 Index (SPY) Price 5
Example of an uptrend:
Closing Price Today = 124.95
Opening Price 5 Days Ago = 121.34
5 Day Change = (124.95 – 121.34) / 121.34 = 2.97%
Example of a downtrend:
Same type of calculation except that the result is -3.27 or lower.
If the above condition is TRUE, then I would like to know.
How do I do this? I know what I would like to do, but don't know exactly what I need to do in TC2000 to help me accomplish this. I'd like to do this for other indexes, but I would like to start with SPY for now.
Thank you for your help,
I was referring to the formula above. HOw do I make this formula return the oversold stocks instead of overbought?
I'm looking for a transition to show stocks that are/will be going higher in price.
HOw do you the same exact thing for oversold positions. This formula seem to work very well for over bought. I'd like to do the same thing for oversold.