Hi Bruce,

I am trying to create an easy scan where the squeeze is true today. But when I try that I get a message saying that I need to use a vaule instead of a true or false premise.

Any suggestions on how to accomplish this task? I use the formula of the squeeze that you provided to me.

Regards

Hector

I am not sure of the exact steps you have taken to get to where you are, so I am guessing to some extent in my response.

What do you have selected for "Formula value" in the Edit Condition window for the formula? It should be set to "Is True" if you are using a Condition Formula.

It should be set to one of the other types only if the formula returns a numeric value.

Note that the formulas which plot dots return numeric values, but probably shouldn't be used for this sort of thing. Instead you would use the part inside the "/ ABS()" section of the formula as a Condition Formula.

Bruce

This is how I got there;

1 open funnel on current scan

2 Add a condition

3 Formulas

4 Select Squeeze on

- Formula value = Is true

- True = Now

- Time Frame = Daily

See screenshot

The best topic of which I'm aware on how to post images in the forums is Inserting A Chart into A Worden post.

OK Thanks

But what about the question about the scan?

Am I missing something?

regards

Actually That is how I loaded the screenshot. Is there anything wrong witth it?

It doesn't show up in the forums. When I try to go to the webpage which is in the post, it asks me for your username and password (please don't post those). You need to use a website that has a direct link to the URL of the image itself and that image needs to be publicly accessible.

What you could do without posting another image is post the formula you are using. If it the formula for Custom PCF Indicator which posts the dots on the chart, it isn't actually a Condition Formula which returns true or false. It is an Indicator Formula which returns a numeric value.

You can use the part inside the ABS() function as a Condition Formula however.

Good Morning Bruce,

I am sorry about that. I was not aware off that problem. I am using Screencast now you should be able to see the image.

I am still not clear on how to setup the easy scan so I am able to scan for the squeeze on condition. Here is the way I set up my easy scan;

Actually I can't be sure that the image is showing now

Bruce,

Once I place the URL of the image that I want to share, should I be able to see it in the preview window right away to know that is going to work?

I don't know why I am having problems here. I am able to share these images on other social networking platforms with no problem. it is getting a bit frustrating.

Thanks

Try just pasting the link as text in the body of the post. We can click on it from there.

Hi Bruce,

Here it is. Please let me know if its working:

http://kvisit.com/PA/1Hg

Yes, we can see it with the link.  Couple of things wrong here.

Your formula: 0 / (STDDEV20*4 <= 3 * ATR20)

That formula plots the value of 0 divided by the result of the <= statement which is -1 if True and 0 if False. Either way the result will always be 0 or "divide by 0" error since 0 / 1 is 0.

You're seeing the "Is true is not valid" error because the formula as a whole returns a value, not a True or False.

STDDEV20*4 <= 3 * ATR20 would be valid since it returns True or False, but your formula does not.

Let me see if I underestand what you are saying. By the way that is the formula you gave me to create the indicator(Squeeze On).

The formula for the squeeze on is right to dysplay the signal on the chart, BUT not right to perform an easy scan.

In order to perform an easy scan I should use the values inside the () as a condition.

Is that what you are saying?

Thanks Bruce

I'll have to leave this for Bruce.  0 / (STDDEV20*4 <= 3 * ATR20) is not a valid formula so I don't think it's the one he gave you. He'll be back in the office on the 18th.

I may be able to help, at least until Bruce hops back on

STDDEV20*4 <= 3 * ATR20  is the correct PCF for Squeeze On in V17. If I were writing a Scan Condition, this is the formula I would use

The other format is a "trick" Bruce is using to make the charts cleaner when plotting dots to show when a condition is true or not. The "trick" works for other indicators as well, not just the Squeeze.

Normally, when using Dots to indicate whether a Condition is True or Not, we end up with two dots, one for True, and one for Not True. The PCF Indicator used is Custom PCF  % True and Scaling is set to determine where the Dots should be placed.

When using the "trick",Custom PCF Indicator is used (not the True) version). The PCF uses the 0/(Formula) (0 / (STDDEV20*4 <= 3 * ATR20 in this case) to return a value only when the Denominator =0, otherwise it returns a Divide by Zero value, which is NOT plotted. The result is a single set of dots plotted on the zero line and only under one condition. The row of dots seen at the bottom of the chart panel if using Custom PCF  % True is not seen using this this technique

The explanation by bcochrane is spot on (or maybe dot on).

Thank you bcochrane and Bruce that explanation makes more sense now.

You're welcome.