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Registered User Joined: 10/13/2011 Posts: 38
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Hi,
Can someone help me create an indicator that identifies:
1. An up candle that has lower volume than the previous two candles.
or
2. A down candle that has lower volume than the previous two candles
also, Is it possible to combine these two into one indicator or do you need to create and run two indicators?
Thanks so much!
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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You could add a Custom PCF Indicator to the same pane and scale as price with the following Formula for 1 if an up candle has a higher close than open.
C / ABS(C > O AND V < MINV2.1)
And the following Formula for 2 if a down candle has a lower close than open.
C / ABS(C < O AND V < MINV2.1)
You could use the following Formula for 1 if an up candle has a higher close than the previous close.
C / ABS(C > C1 AND V < MINV2.1)
And the following Formula for 2 if a down candle has a lower close than the previous close.
C / ABS(C < C1 AND V < MINV2.1)
I probably wouldn't combine the indicators because the dots would all be the same color.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 10/13/2011 Posts: 38
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Thank you Bruce!
Is there any way to raise or lower the dots so that they don't sit on the candles? It makes it a little hard to see the wicks.
Yi
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Registered User Joined: 10/13/2011 Posts: 38
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And if it's not possible to adjust the dots, is there a way to write the formula to make it a "0 or 1" line indicator that shows a spike every time such a day occurs? I'd want it to be a standalone indicator underneath the price chart.
Thanks again!
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Do you see the C at the beginning of each formula? This is the point at which the dot will be drawn.
So you could change C to something like the following to plot the dot a penny above the high.
(H + .01)
So the first formula would become:
(H + .01) / ABS(C > O AND V < MINV2.1)
Or to the following to plot the dot a penny below the low.
(L - .01)
So the first formula would become:
(L - .01) / ABS(C > O AND V < MINV2.1)
These are just examples, you can use just about any formula you want to calculate the value at which you wish to plot the dot (but having it plot at least near price is probably desirable).
You can just add a Custom PCF % True Indicator to the chart und use the part of the formula inside the ABS() function as the Boolean Formula if you want to plot spikes an the chart as an independent indicator.
As an example, the formula to use as the Boolean Formula in the Custom PCF % True Indicator for the first formula given above would just be the following.
C > O AND V < MINV2.1
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 10/13/2011 Posts: 38
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The H +.01 tip worked perfectly, thanks bruce!
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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You're welcome.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 10/13/2011 Posts: 38
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Hi Bruce, I'm looking to modify #2.
Currently I have:
(L-.14) / ABS(C < C1 AND V < MINV2.1)
I am modify it to trigger when the price closes in the upper half of the candle, and also whether it closes higher or lower than the open, in other words the direction of close no longer matters. As long as it closes in the upper half on low volume.
Thanks
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Registered User Joined: 10/13/2011 Posts: 38
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I was also wondering if there is a way to include "volume bar is below the average of the last 50 volume bars" into the formula. That would be helpful too. Thanks
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Administration
Joined: 9/30/2004 Posts: 9,187
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... AND V < AVGV50
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Registered User Joined: 10/13/2011 Posts: 38
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Thank you! Do you know about how to add "closing in upper half of candle" to that as well?
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Administration
Joined: 9/30/2004 Posts: 9,187
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... AND (C-L) / (H-L) > .5
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