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Registered User
Joined: 12/18/2004
Posts: 20
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Is there someplace I can find pcf's for chart patterns like pendents , flags, cup and handle, triangles etc..
Thanks
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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If there is something specific you'd like to find, we can often help you with formulas right here in the forum.
There is no one source of PCF's out there, but people do share their work. You could do a Yahoo or Google search on TeleChart2000, and you'll likely run into some sites where you'll find PCF's.
- Doug
Teaching Online!
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Registered User
Joined: 12/18/2004
Posts: 20
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I am looking for pcf's for Pendents and triangles mostly. I have had no luck making my own.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Here are a few videos you might enjoy. Though none of them are for the patterns specifically, you should find the tools in them could be used for this purpose.
Stocks Bouncing in a Channel
Channel Sorts
Finding price and volume in (or out) of step
Spotting trend changes
- Craig
Here to Help!
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Registered User
Joined: 10/7/2004
Posts: 799
Location: Duluth, GA
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Hi, N7kon:
It's not practical in TC's PCF language (and very difficult in other languages ;~) to write a really good, legit scan for classic chart patterns like penants, etc. The main problem is that your eyeball+brain integrates the visual info "holistically" - and that is very difficult to write formulae for. If you use formal "pivot points" to draw from, PCF-eze again is sorta weak in that department.
However, all is not lost. There are a couple of "rube goldberg" solutions worth looking at.
ONE involves finding "approximate" pivot points by arbitrarily looking for the MaxH and MinL in a given period of time, then moving backwards to a prior period and doing the same thing ... and so on as far as you want to go. Then, mathematically draw a pair of best-fit lines between these points, and check the resulting slopes, etc to see if it is similar to a classic chart pattern.
ANOTHER approach uses a similar best-fit approach, is easier to implement, but is less equivalent to the classic pivot-point visual method. Here, you pick an arbitrary window of time (maybe 2-4x your typical hold time) and mathematically draw two best-fit lines: one based on Highs and the other based on Lows. Then compare the slopes to decide if you have parallel, converging or diverging patterns.
This is all pretty tricky to PCF, more mathemetically intense than most PCF's, and will require a bit of back and forth with you to specify the timeframes involved. If you are interested in pursuing this, let me know. I'll keep an eye on this thread for your reply, since I'm not allowed to post my email address in the Worden forum. Alternatively, you could google for other TC2000 fora ... notably the ones on Yahoo ... several other people there might have some useful suggestions.
Jim Dean
Jim
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