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PTleader
Posted : Tuesday, November 28, 2017 9:18:11 AM
Gold Customer Gold Customer

Joined: 5/21/2005
Posts: 17

Is there a way to set up a scan or PCF to find stock price candels that have very little or no shadows?  I believe they are also called wicks and tails.

PTleader
Posted : Tuesday, November 28, 2017 9:28:23 AM
Gold Customer Gold Customer

Joined: 5/21/2005
Posts: 17

I forgot to add that I would want this for the (x) previous trading days

Bruce_L
Posted : Tuesday, November 28, 2017 9:57:17 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

How small do you want them? The following counts the number of candles in the most recent 50 candles where both tails combined constituted 10% of the candle or less (or the body constituted 90% of the candle or more).

CountTrue(10 * ABS(O - C) >= 9 * (H - L), 50)

You can change the 50 near the end of the formula to adjust (x).

Adding > 0 to the end would check for it happening at least once.

You can change the 10 and 9 to ajust the ratio of candle to the body.



-Bruce
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