Download software Tutorial videos
Subscription & data-feed pricing Class schedule


New account application Trading resources
Margin rates Stock & option commissions

Attention: Discussion forums are read-only for extended maintenance until further notice.
Welcome Guest, please sign in to participate in a discussion. Search | Active Topics |

Weekly Donchannel breakout Rate this Topic:
Previous Topic · Next Topic Watch this topic · Print this topic ·
happy1398
Posted : Thursday, March 13, 2008 8:27:33 AM
Registered User
Joined: 11/14/2005
Posts: 77
Hi,
How to write a pcf for Weekly Donchannel breakout (up/down)?
Thank you
Bruce_L
Posted : Thursday, March 13, 2008 9:08:11 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138
The formula would depend on the Donchian Channel's Period. Here are some example formulas that assume a Period of 10:

Close above 10-Week Donchian Channel:

C > MAXH50.5

High above 10-Week Donchian Channel:

MAXH5 > MAXH50.5

Close below 10-Week Donchian Channel:

C < MINL50.5

Low below 10-Week Donchian Channel:

MINL5 < MINL50.5

You may wish to review the following:

How to create a Personal Criteria Forumula (PCF)
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
proberts1957
Posted : Friday, June 27, 2008 5:12:15 PM
Registered User
Joined: 4/28/2005
Posts: 59
Bruce,

I am new to TC and have been reading many of the posts in the different forums and viewing the training videos as I came across them. I came across this post about a PCF for a Breakout up or down of a 10 week Donchian Channel. I am interested in setting up a pcf to do the same and thanks to you I now have the formulas from you response to Happy1398.
 
I am pretty new to this so I think I am suffering from the forest for the trees syndrome but I have a question about the formulas that you provided. In both close above 10-week Donchian Channel and close below the 10-week channel formulas, they end with a ".5":

C > MAXH50.5

C < MINL50.5

My question is: Does the ".5" mean the 10-week close 5 days ago? If so, would it not be the same to write the formulas as:

C > MaxH45 and C < MinL45 respectively?

Thanks for helping thin the trees in my forest..... 
diceman
Posted : Sunday, June 29, 2008 9:38:08 AM
Registered User
Joined: 1/28/2005
Posts: 6,049
"Does the ".5" mean the 10-week close 5 days ago?"
-------------------------------------------------------------------
 
It means the value of the highest high for 50 bars (MAXH50.5)
five bars ago.
 
 
-------------------------------------------------------------------------------
"if so, would it not be the same to write the formulas as:
C > MaxH45 and C < MinL45 respectively?"
--------------------------------------------------------------------------------
 
Two things. This would be the MAXHIGH for only 45 bars.
(the five bars to the left can change its value vs. the 50 length)
 
Also as written this (C > MaxH45 ) can never be true.
 
We can only equal today's highest high. (if we break it, it will
become a new high)
 
You would need something like C>MAXH45.1 on a daily
(a 1 day breakout of a 45 day range)
 
or C>MAXH45.5 on a weekly.
(the equivalent of a 9 bar weekly channel)
 
 
 
 
Thanks
diceman
 
proberts1957
Posted : Sunday, June 29, 2008 10:39:55 AM
Registered User
Joined: 4/28/2005
Posts: 59
Diceman,

Thank-you!!!
 
I appreciate you taking the time to explain something that now seems so straight forward, logical and simple.

Paul
Users browsing this topic
Guest-1

Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.