Registered User
Joined: 2/23/2005
Posts: 13
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The subject is my question: Can STOC be used for other indicators than price? and if so, what is the format for such a PCF?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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It should be theoretically possible to do so for most Indicators by creating a Custom Indicator (Plotting Custom Indicators with Examples), but the practicality of doing so depends on the Indicator and the Stochastic Period. Let's start by thinking about what a Stochastic represents:
Understanding Stochastics
This means the basic formula for the raw Stochastic would be (the following is for an 8-Period Stochastic):
100 * (C - MINL8) / (MAXH8 - MINL8)
You would apply a Moving Average to get the SK and then another Moving Average to the SK to get the SD. This means we can create a Stochastic for Indicators where TeleChart's Personal Criteria Formula Language can either apply the MIN() and MAX() functions or already has MINfunction and MAXfunction built in:
PCF Formula Descriptions
Indicators:
MAXCx.z -> Maximum of Close/Last Price
MAXHx.z -> Maximum of High Price
MAXLx.z -> Maximum of Low Price
MAXOx.z -> Maximum of Open Price
MAXVx.z -> Maximum of Volume
MINCx.z -> Minimum of Close/Last Price
MINHx.z -> Minimum of High Price
MINLx.z -> Minimum of Low Price
MINOx.z -> Minimum of Open Price
MINVx.z -> Minimum of Volume
Functions:
MAX(w,x) -> Maximum
MIN(w,x) -> Minimum
Where w is the Number or Indicator to which a Function is applied.
- w cannot be a formula or function for MAX(), MIN()
Where x is the Period of the Indicator or Function.
Where z is the number of Periods Ago.
- z can also be a date. May 3, 2007 would be (single quotes required): '05/03/07'
The arguments in indicators are separated by periods while the arguments in functions are separated by commas.
In other cases, it may be possible to calculate the Min and Max values if the Stochastic Period is short enough:
Min Max PCFs
It may even be possible for some Indicators to create a formula when the PCF Language does not have the built in syntax and where the applications of the techniques in the Min and Max topic would be impractical, but this would need to be determined on a case by case basis.
Blocks has a built in Stochastic Indicator that can be applied to any other Plot.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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