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Hi Bruce, thanks for your help yesterday, you helped propel me on the learning journey. Grab yourself a coffee :)
I signed up yesterday (2nd time, last time just not enough time to dedicate to this), and I'm exploring to determine if TC2000 (and I) has the expressive power to meet my scanning needs, looks VERY promising.
Before I embark on a major project, I wanted to bounce my overview off of you for input and direction to limit my asking a bunch of silly questions that would use your time unnecessarily. Experts are usually in high demand and of short supply so I want to respect your time - though I'd certainly appreciate as much assistance creating Conditions/samples as your time allows.
Note on Nomenclature/Terminology: I mostly use Condition Set (CondSet, for Setup Steps), as opposed to Condition (for Buckets), due to our discussion re not being able to see/edit conditions in V18 Beta, see post 67895. Correct me freely where I stray from proper terminology --and I should probably choose 1 and stick with it unless you recommend otherwise based on my intentions with Buckets vs Setup Steps.
Scenarios of interest
I have a few "scenarios" (I'll call them buckets) I want to scan for to narrow the field (universe = US Stocks, for now, but looks like easily changed, similar to applying CondSets to Time-Frames). Then, I want to apply Condition Sets to the individual Buckets, looking for specific Steps that lead to tradeable Setups within each bucket (some elements of both Bucket and Setup Step criteria -may- be the same across buckets/setups, allowing some re-use and reduce overall number of Condition Sets).
Overall flow is:
Universe > Buckets > Steps > Setups > Triggers > Trades > Profits (Rinse and repeat)
NOTE: From my stand-point, Triggers result from a Setup, which for me is a multi-step, cumulative PROCESS. As such, I have not really attempted to include the formal Step 2 (and beyond) of a Setup, nor Triggers (order entry will ALWAYS be manual so Alert required ahead of Trigger even if I -could- expand CondSets to include Triggers), in the first pass of this project for fear that Step 2 would deteriate Step 1, and so on --more on this below.
I'm aiming for Step 1 in the Setup process to alert me as my starting point, then manually monitor development of subsequent Steps where Step 1 = True.
To go beyond Step 1, I'd need to better understand how Step 2 effects (deteriation) Step 1, etc... . For example, does Step 2 {True} potentially remove the Step 1 symbol from my list of "in-progress Setups" making Step 2 its ONLY reason to be there, so that, then, if Step 2 fails {no longer True} or Step 3 doesn't materialize, I'd need Step 1 to be met {True} again for it to show on my list (or column checkmark to be present/visible --more on this below)? This deteriation -might- actually be required in the end and so my concern -may- be unfounded.
Maybe CondSet COLUMNS can solve any "drop-off due to CondSet deteriation" problem I envision, but I haven't really dug deep enough yet to know - I keep entering a circular thought process (ie. if Step 1 no longer True (example below) before Step 2 develops, off list?) on this issue (deteriation), so your thoughts on this appreciated.
I will definitely attempt to add additonal Setup Steps in subsequent refinements if you've nothing on this at the top of your head - for scalability, if no other reason. Also, if Column Checkmarks can be persistent but change color as a result of continued evaluation of originating condition state, that would be amazing - but I'm probably wishing for unicorns to expect that.
Buckets (scenarios) starting point, 3-5, could grow to 10+, anticipate 3-5 Conditions per bucket, likely some common elements (conditions such as Price, Vol...) across buckets.
Condition Sets (Setup Steps within Bucket) starting point 8-12, could grow to 20+, anticipate 2-4 CondSets per Setup (to Step 1), possibly some common elements (XUp/Down MA, etc...) across Setups in seperate Buckets.
By way of example.... (actual values may vary, likely change anyway, just want to include something)
Bucket 1 (Scenario, Daily GAP 10%):
Price Condition - between 1$ and 75$ (perhaps all buckets)
Open Condition - Open today at least 10% Higher Than (>) Yesterday Close (Opposite also desired but not sure if combining buckets best, Condition Set Columns might allow without confusion though I am inclined toward discrete buckets and if CondSet Columns allow further sub-division, utilize that capability for Setup Steps progress - and color=status if unicorns truly exist).
Volume Condition - at least (=>) 500K (if prior day or daily avg, also could be lower Vol if today only, flexibility useful)
Bucket 1 Condition Sets (Setup, Step 1 is XUp MA - we've covered some of this in 67895):
Price CondSet 1 - High Below MA for X candles (opposite also desired, again, perhaps seperate scan or CondSet columns. Furthermore, anticipate CondSet can be applied to mulitple time-frames (1m-Monthly)?)
Price CondSet 2 - High Above MA last candle (where I NEED to know about this Event as THE first Step in the Setup process; Column Checkmark (best?) or other visual/audible alert mechanism). Furthermore, best if I can maintain this True state (even if High subsequently Below MA) going forward as I await further Setup Steps to develope, though manual monitoring for additional Steps ok in first pass of this project. * Perhaps assign a column for each Step in the Setup process if that can ensure no deteriation of prior steps? (see above).
Price CondSet 3 - Low Above MA last candle (since CondSet 2 = True really and builds on Step 1, though not necessary for Step 1 Alert AND this is -potentially- start of Step 2 in Setup Process, this will likely need to be fleshed out/tested before inclusion, also don't want this to eliminate first step as Setup is a cumulative process [if this, then that..... Setup = Valid], I'm prepared to watch manually from step one if needed to ensure they don't fall off the "Active" or "In Progress" list of Setups.)
Bucket 2 (Prev Day Range X times Average Daily Range) :
Price Condition - Price between 1$ and 75$
Volume Condition - Volume at least 500K (if prior day or daily avg, could be lower Vol today only, flexibility key)
Bucket 2 Condition Sets:
- Decided to wait on this example in the interest of both our time :)
Initial Questions:
1. From an implementation stand-point, is this achievable with TC2000? And if so, I'm currently using Beta 18, does that matter, or do you recommend another version? In short, anything you see here that -requires- Beta 18?
2. Time-Frames - I am working with the assumption that a Condition (or Set) can be applied to any time-frame available via the Time-Frame pulldown menu. Correct? Further, can I mix time-frames in a "Scenario"? For example, Bucket condition be evaluated on a higher time-frame such as Daily, Weekly, Monthly and a Setup/Step condition within that same bucket be evaluated on a lower time-frame such as 1 minute, 5 minute, 20 minute etc...? Same true with multiple time-frames for different CondSets of the same Setup/Steps within the same bucket?
3. Does the Bucket > Condition Set approach offer best balance between "scenario" isolation and Condition Set re-use in terms of overall useability/effort/effectiveness of purpose? Is it better to just use CondSets for ALL my needs or some other dividing line, if any, between Buckets and Setup Co21ndSets?
4. If Bucket/CondSets approach reasonable, what are your thoughts on order of operations? For example, in the case of Bucket 1, how would you apply Bucket Conditions (Price/Open/Vol) for most efficient evaluation/lookups? Same with Setup/Steps CondSets?
5. I understand TC2000 does not scan AH/PM data, does this limit dev/test time (9:30-4:00 for example) in any way based on Condition time-frames? And if so, temp higher time-frames resolve that limitation? Not sure I'm being completely clear here, hopefully you get my point.
6. What resources do you recommend for me to review/reference as I work my way through this project to further my understanding and limit workload for you?
Thanks for your consideration.
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