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Registered User Joined: 10/7/2004 Posts: 11
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Could you please help me construct a custom indicator formula that would reflect the the following: the average of the high/low/close average of the last 3 days and would it be possible to show it on the price chart as a dot instead of a line? H L C Day 1 30 10 20 =60/3 =20 Day 2 40 20 30 =90/3 =30 Day 3 35 15 25 =75/3 =25 -- 75 /=25 or the dot on the price chart. Thank you Hcg
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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I don't know a way of putting a dot on the Price Chart instead of a Line in TeleChart. You can draw a dotted line, but it will still be a line. Please try the following:
Select Chart Template | Add Indicator | Indicator | Top. - Visible: Checked - Center Zero Line: Unchecked - Plot using price scale: Checked - Smoothing Average: 3 - Average Type: Simple - Indicator Formula: (H + L + C) / 3
You may wish to review the following:
Plotting Custom Indicators with Examples Handy PCF example formulas to help you learn the syntax of PCFs!
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 10/7/2004 Posts: 11
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Thank You Bruce, however it is the last half of the formula that I am unable to construct, that is the average of the H/L/C average for thelast 3 days. Can you help me with that. Thank you Howard
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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The Custom Indicator does this automatically because the Smoothing Average is 3 and the Average Type is Simple. If you wanted to create this as a Personal Criteria Formula instead of as a Custom Indicator, you could try the following (use the above for a Custom Indicator):
(AVGH3 + AVGL3 + AVGC3) / 3
You may wish to review the following:
How to create a Personal Criteria Forumula (PCF)
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 10/7/2004 Posts: 11
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Bruce When I test your formula in the custom indicator window I am not getting the right answer.This is what I have tried and it is telling me I am missing Parathesis ((AVGHLC1)+(AVGHLC2)+(AVGHLC3))/3.
Take the symbol CMGI for the last three days and assuming todays close at 1.38 the correct answer to what I am trying to accomplish is 1.37 Howard
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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(H + L + C) / 3 does not return an error on my system. (AVGH3 + AVGL3 + AVGC3) / 3 does not return an error on my system. ((AVGHLC1)+(AVGHLC2)+(AVGHLC3))/3 is meaningless.
I'm updated through 12/14/2006 Market Close. The Averages are what's returned by my calculator (there may be rounding issues in the last digit).
12/14/2006: CMGI High: 1.38 CMGI Low: 1.34 CMGI Close: 1.36 CMGI Average: 1.36
12/13/2006: CMGI High: 1.43 CMGI Low: 1.34 CMGI Close: 1.35 CMGI Average: 1.3733333333333333333333333333333
12/12/2006: CMGI High: 1.46 CMGI Low: 1.40 CMGI Close: 1.41 CMGI Average: 1.4233333333333333333333333333333
12/12/2006-12/14/2006: CMGI Average: 1.3855555555555555555555555555554
The value returned by:
(AVGH3 + AVGL3 + AVGC3) / 3
When used as a Personal Criteria Formula is: 1.39
The value returned by the following Custom Indicator:
Select Chart Template | Add Indicator | Indicator | Top. - Visible: Checked - Center Zero Line: Unchecked - Plot using price scale: Checked - Smoothing Average: 3 - Average Type: Simple - Indicator Formula: (H + L + C) / 3
When plotted on a Daily Chart is: 1.39
If you really want to do it this way, the value returned by the following Custom Indicator:
Select Chart Template | Add Indicator | Indicator | Top. - Visible: Checked - Center Zero Line: Unchecked - Plot using price scale: Checked - Smoothing Average: 1 - Average Type: Doesn't matter (because the Smoothing Average is 1). - Indicator Formula: (AVGH3 + AVGL3 + AVGC3) / 3
Matches the first Custom Indicator. When plotted on a Daily Chart, its value is: 1.39
Are you viewing a Daily Chart? Do all of the settings in your Custom Indicator match what's given?
-Bruce Personal Criteria Formulas TC2000 Support Articles
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