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sukhtejs
Posted : Tuesday, September 12, 2006 1:00:33 PM
Registered User
Joined: 9/6/2005
Posts: 22
All,

I am interesting in creating my own 4-day Bearish PCF. Here is what I am looking to do:

1. All candles are bearish.

The 1st bar is the longest of the 6 and has the highest open.
The 2nd bar's open is lower than the 1st by 2%.
The 3rd bar's open is lower than the 2nd by 1.5%.
THe 4th bar's open is lower than the 3rd by 1%.

Is this possible in TC2007? If so can I change the percentage to the actual change (points) of a stock? What other parameters would I need to consider before I write this?
Bruce_L
Posted : Tuesday, September 12, 2006 1:27:52 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138
QUOTE (sukhtejs)
I am interesting in creating my own 4-day Bearish PCF. Here is what I am looking to do:

1. All candles are bearish.

The 1st bar is the longest of the 6 and has the highest open.
The 2nd bar's open is lower than the 1st by 2%.
The 3rd bar's open is lower than the 2nd by 1.5%.
THe 4th bar's open is lower than the 3rd by 1%.

I'm not sure I completely understand your conditions, but please try the following:

C3 < O3 AND C2 < O2 AND C1 < O1 AND C < O AND H3 - L3 > H2 - L2 AND H3 - L3 > H1 - L1 AND H3 - L3 > H - L AND O2 <= O3 * .98 AND O1 <= O2 * .985 AND O <= O1 * .99

QUOTE (sukhtejs)
If so can I change the percentage to the actual change (points) of a stock?

I'm not a candlestick expert. Could you clarify this a bit further?

QUOTE (sukhtejs)
What other parameters would I need to consider before I write this?

The trainers cannot give settings, interpretation or investment advice, but another trader might comment on this.

You may wish to review the following:

Boolean PCFs for Candlestick Patterns
PCFs and EasyScans for Candlestick Patterns

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
sukhtejs
Posted : Tuesday, September 12, 2006 1:49:27 PM
Registered User
Joined: 9/6/2005
Posts: 22
Thank you for your prompt response. I will try the formula tonight.
sukhtejs
Posted : Tuesday, September 12, 2006 2:14:01 PM
Registered User
Joined: 9/6/2005
Posts: 22
Currently I am comparing the drop of the previous bar using a percentage. (for example the 2nd bar's open is lower than the previous bar's open by 2%) Can I change that to where the 2nd bar's open is lower than the previous bar's open by 0.20 cents?

Thanks.
Bruce_L
Posted : Tuesday, September 12, 2006 2:19:40 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138
That portion of the formula is:

O2 <= O3 * .98

It can modified to:

O3 - O2 >= .2

If you wish to use a dollar value instead of a percentage.

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
sukhtejs
Posted : Tuesday, September 12, 2006 2:22:09 PM
Registered User
Joined: 9/6/2005
Posts: 22
Thank you.
Bruce_L
Posted : Tuesday, September 12, 2006 2:23:08 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138
You're welcome.

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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