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Candlesticks

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doug1746

Posted : Tuesday, May 6, 2008 10:03:47 AM

Registered User
Joined: 2/4/2006
Posts: 46

Hello....how would I write the PCF for a hammer candle today that followed a doji candle yesterday...thanks.

Bruce_L

Posted : Tuesday, May 6, 2008 11:23:52 AM

Worden Trainer

Joined: 10/7/2004
Posts: 65,138

I'm really not a candlestick guy, so take my definitions with a grain of salt. If we define a doji as a candle where the High is greater than the Low and the body is less than or equal to five percent of the Body:

H > L AND ABS(O - C) <= .05 * (H - L)

And we define a Hammer as a Candle where the High is greater than the Low and the body is entirely within the top 25% of the Candle:

H > L AND O - L >= .75 * (H - L) AND C - L >= .75 * (H - L)

Then you could write your Personal Criteria Formula as:

H > L AND O - L >= .75 * (H - L) AND C - L >= .75 * (H - L) AND H1 > L1 AND ABS(O1 - C1) <= .05 * (H1 - L1)

You may wish to review the following:

Boolean PCFs for Candlestick Patterns
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

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