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Registered User
Joined: 3/13/2016
Posts: 24
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Hi.
Would be extremely appreciative if someone can help me with a custom PCF condition for an easyscan based on a 90 period donchian channel:
Conditions:
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- Stock is anywhere between 10% away from touching the upper donchian channel to 0% (i.e. actually touching it.)
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- Stocks which have crossed above the Donchian upper band by more than 5% need to be excluded. (usually stocks that have already crossed the band tend to break out big which leaves no room for any play)
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- Donchian band should be horizontal i.e. flat prior to the retest for at least 5 bars or a given range if thats easier (as per screenshot). In other words should not be rising or declining as price is approaching it.
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Same as above but the inverse for the bottom part of the donchian channel
I know some formulas have been provide before for donchian channels but when ive run the scan it always seems to find stocks that have already broken the donchian channel as per the example in the image. Or it finds stocks with the donchian channel rising instead of horizontal.
Thanks in advance!!
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Administration
Joined: 9/30/2004
Posts: 9,187
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I just sent you a scan via TCMail. Click Tools > TCMail to retrieve it. Price has be within 10% of the top channel and not more than 5% above and the top channel has to flat for at least 5 days.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Please try the following Condition Formula if stocks need to be in 90-100% area of the Donchian Channel.
.9 * (MAXH90.1 - MINL90.1) <= C - MINL90.1 AND C <= MAXH90.1 AND MAXH5.1 = MAXH90.1
And the following Condition Formula if stocks can be in the 90-105% area of the Donchian Channel.
.9 * (MAXH90.1 - MINL90.1) <= C - MINL90.1 AND C - MINL90.1 <= 1.05 * (MAXH90.1 - MINL90.1) AND MAXH5.1 = MAXH90.1
Please try the following Condition Formula for the inverse if the stocks need to be in the 0-10% are of the Donchian Channel.
MINL90.1 <= C AND C - MINL90.1 <= .1 * (MAXH90.1 - MINL90.1) AND MINL5.1 = MINL90.1
And the following Condition Formula if stocks can be in the -5% to 10% area of the Donchian Channel.
(-.05) * (MAXH90.1 - MINL90.1) <= C - MINL90.1 AND C - MINL90.1 <= .1 * (MAXH90.1 - MINL90.1) AND MINL5.1 = MINL90.1
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 3/13/2016
Posts: 24
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Wow. that was super fast! Thanks guys, its perfect!
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Registered User
Joined: 3/13/2016
Posts: 24
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Just tried it out. Fantastic. Does exactly what i wanted. Thanks a million
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome. Our pleasure.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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