Registered User
Joined: 12/31/2004
Posts: 14
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Can anyone help me with the following:
1- Is there a scan or PCF to find stocks which have retraced or extended from their last pivot point. Retracements being 38%, 61.8%, 75% etc & Extentions being 1, 1.38, 1.618 etc etc
2- Is there a scan or PCF to find stocks which have retraced or extended from any number of previous days. Retracements & extensions as above or any desired %.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Try this and tell me what you think:
(L-MAXH30)/MAXH30*100
Change the 30s to any time period for the last highest high to be measured within.
You can sort or scan by this PCf and it will return the difference between the low today and the highest high for the last 30 days as a percentage of that high.
- Craig
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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This link may also be of interest to you:
Defining functions for Fibonacci Retracements ???
- Doug
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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For #2 you should use my PCF above in combination with a scan that returns the day of the last MAXH. Here is one that will return the days since the last MAXH within the last 30 days.
(MAXH30=H1)*-1+(MAXH30=H2)*-2+(MAXH30=H3)*-3+(MAXH30=H4)*-4+(MAXH30=H5)*-5+(MAXH30=H6)*-6+(MAXH30=H7)*-7+(MAXH30=H8)*-8+(MAXH30=H9)*-9+(MAXH30=H10)*-10+(MAXH30=H11)*-11+(MAXH30=H12)*-12+(MAXH30=H13)*-13+(MAXH30=H14)*-14+(MAXH30=H15)*-15+(MAXH30=H16)*-16+(MAXH30=H17)*-17+(MAXH30=H18)*-18+(MAXH30=H19)*-19+(MAXH30=H20)*-20+(MAXH30=H21)*-21+(MAXH30=H22)*-22+(MAXH30=H23)*-23+(MAXH30=H24)*-24+(MAXH30=H25)*-25+(MAXH30=H26)*-26+(MAXH30=H27)*-27+(MAXH30=H28)*-28+(MAXH30=H29)*-29
(formula corrected)
- Craig
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Registered User
Joined: 12/31/2004
Posts: 14
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Hi Craig,
I have a problem in understanding the results from your PCF: (L-MAXH30)/MAXH30*100
I am only getting -ve values for all the stocks in my portfolio even if the price has gone up.
I'm not sure what answer am I getting from this PCF i.e. how to read its results.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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It is returning the percent change from the highest high of the last 30 days to the low today.
Re-reading your post, I think this may be better. Gives the distance from the highest high to today's low as a percentage of the range (highest high to lowest low) for the last 30 days.
(MAXH30-L)/(MAXH30-MINL30)*100
A value of 33 means that the distance from the high of 30-days to the low today is 33% of the total range from highest high to lowest low for the last 30 days. Is this closer to what you want?
- Craig
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Registered User
Joined: 10/7/2004
Posts: 1,006
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Can the formula below be used for the same screening and use the range selector for prices near the top or bottom of the 30 day range. High numbers mean the close is at the top of the range and low numbers at the bottom of the range.
Name: Price as % Range from MINL30 to MAXH30
Describe: Returns the percent change from the lowest low of the last 30 days to the close today. Today's close as a percentage change of the range (lowest low to highest high) for the last 30 days. A value of 75 means that the distance from the lowest low of 30-days to the close today is 75% of the total range from lowest low to highest high. Number 100 means the close is at a 30 day high.
(C-MINL30)/(MAXH30-MINL30)*100
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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(C-MINL30)/(MAXH30-MINL30)*100
This will return the price now as a percent of the 30 trading-day range (roughly six-week range). 100 means it is 100% of the range or at the high. 0 means it is at the low. 50 means it is half-way between the high and the low.
(C-MINL30)/MINL30*100
This will return the percent change from the lowest low in the last 30 days.
Does this help?
- Craig
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Registered User
Joined: 1/1/2005
Posts: 2,645
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QUOTE (Craig_S) Here is one that will return the days since the last MAXH within the last 30 days.
(MAXH30=H1)*-1+(MAXH30=H2)*-2+(MAXH30=H3)*-3+(MAXH30=H4)*-4+(MAXH30=H5)*-5+(MAXH30=H6)*-6+(MAXH30=H7)*-7+(MAXH30=H8)*-8+(MAXH30=H9)*-9+(MAXH30=H10)*-10+(MAXH30=H11)*-11+(MAXH30=H12)*-12+(MAXH30=H13)*-13+(MAXH30=H14)*-14+(MAXH30=H15)*-15+(MAXH30=H16)*-16+(MAXH30=H17)*-17+(MAXH30=H18)*-18+(MAXH30=H19)*-19+(MAXH30=H20)*-20+(MAXH30=H21)*-21+(MAXH30=H22)*-22+(MAXH30=H23)*-23+(MAXH30=H24)*-24+(MAXH30=H25)*-25+(MAXH30=H26)*-26+(MAXH30=H27)*-27+(MAXH30=H28)*-28+(MAXH30=H29)*-29+(MAXH30=H30)*-30
You need to modify your PCF. In order to be consistant, your last term should be (MAXH30=H29)*-29. The PCF then adds the number of days back to each day within the 30 day interval for which the high is equal to MAXH30.
A correct PCF for 8 days is:
(0-1)
*(1*(H1=MAXH8)+(1+(H1=MAXH8))
*(2*(H2=MAXH8)+(1+(H2=MAXH8))
*(3*(H3=MAXH8)+(1+(H3=MAXH8))
*(4*(H4=MAXH8)+(1+(H4=MAXH8))
*(5*(H5=MAXH8)+(1+(H5=MAXH8))
*(6*(H6=MAXH8)+(1+(H6=MAXH8))
*(7*(H7=MAXH8))))))))
If you have too many ")" at the end, TC2K and TC2005 just ignors them. If you do not have enough, you will be told. If you do some of the multiplication, the result looks like:
(0-1)*((H1=MAXH8)*1+(1+(H1=MAXH8))*(H2=MAXH8)*2
+...+(1+(H1=MAXH8))*...*(1+(H6=MAXH8))*(H7=MAXH8)*7)
The PCF counts the number of days to the last time the high was equal to MAXH8.
Thanks,
Jim Murphy
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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You are correct about the last element. I corrected the formula in the original post.
The format you present works as well and returns the same information as the format I presented. People can use either format.
People should be careful adding extra ))) at the end of their PCFs. Their presence can cause a PCF with incorrect "()" to calculate BUT it may not calculate the way you intend because of a mistake with them earlier in formula.
- Craig
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Registered User
Joined: 1/1/2005
Posts: 2,645
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QUOTE (Craig_S)
The format you present works as well and returns the same information as the format I presented. People can use either format.
As previously stated, your corrected PCF adds the number of days back to each day within the 30 day interval for which the high is equal to MAXH30. As of 03/14/05, there are 528 items in the All Stocks list of 6846 items for which the PCF returns a value greater than 29 and there are many more for which the two PCF's do not agree. The values range up to 435, as it should when all 30 highs are equal.
The PCF I supplied should be corrected to read:
(0-1)*(1+(H0=MAXH8))
*(1*(H1=MAXH8)+(1+(H1=MAXH8))
*(2*(H2=MAXH8)+(1+(H2=MAXH8))
*(3*(H3=MAXH8)+(1+(H3=MAXH8))
*(4*(H4=MAXH8)+(1+(H4=MAXH8))
*(5*(H5=MAXH8)+(1+(H5=MAXH8))
*(6*(H6=MAXH8)+(1+(H6=MAXH8))
*(7*(H7=MAXH8))))))))
The maximum value this PCF can return is 7, or, when extended to 30 days, the maximum it could return would be 29.
The two PCF's return the same value if and only if there is only one day in the interval under consideration for which the high is equal to the maximum high over the interval.
Thanks,
Jim Murphy
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Yeppers. If there are two or more highs that are the same and they are also the MAX highs my formula breaks.
Good call, thanks.
- Craig
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Registered User
Joined: 12/31/2004
Posts: 14
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Though I have applied a number formulae listed in this topic, I am still finding difficult to follow.
I was wondering if one of Worden's Trainers could make up a video for Telechart user like me to identify stocks at thier fibonacci retracements or extensions.
I would appreciate your help.
Thank you
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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We're going to give this some thought, kamran. If we can come up with a technique that can be demonstrated in a video, we'd be glad to do that. Someone will post back to you here after we've thought it through.
- Doug
Teaching Online!
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Registered User
Joined: 12/31/2004
Posts: 14
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Thank you Doug
I wouldn't have expected anything less from Telechart team. Keep it up & I shall eagerly look forward to receving something here.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I came up with a nifty solution for you and just put the video in the can. We should have it posted in the next 24 hours for you (and everyone else). I'll post a link to it here once it is up.
- Craig
Here to Help!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Ask and you shall receive....
Fibonacci Retracement Levels
Let me know what you think!
- Craig
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Registered User
Joined: 12/31/2004
Posts: 14
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Thanks Craig,
You guys are too good to be true.
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Registered User
Joined: 10/7/2004
Posts: 1,006
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Craig,
In your Fibonacci Retracement Levels video, the EasyScan configuration for the PCF, Price Percentage Change 26-Weeks,(C-MAXH125)/(MAXH125-MINL125)*100, your range selector had Value Ranges from -17.49 to 42.51528.
I ran the same scan and my Value Ranges ranged from -92.19 to -11.59, nowhere near your values. Why are my PCF range selection values so much different from yours, why aren't they closer to your values. Is my timescale off or is your PCF different from my PCF?? In the EasyScan, I selected all stocks and then the PCF noted above. There must be some logical explanation.
Thanks
Winnie
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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The EasyScan does not use the PCF, it uses the built-in condition of Price Percent Change 26-weeks. Double check that you did not select the PCF by mistake.
- Craig
Here to Help!
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Registered User
Joined: 10/7/2004
Posts: 1,006
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Craig,
I misundestood the video and you were right, I used the 26 week retracement PCF,(C-MAXH125)/(MAXH125-MINL125)*100 sort instead of the Price Percent Change 26-Week(C-C126)/(C126)*100 in the EasyScan.
Thanks for the clarification.
Winnie
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Glad to hear you are up and running!
- Craig
Here to Help!
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