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Registered User
Joined: 1/27/2005
Posts: 11
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Can you provide some insight on the output value of this PCF. Does it produce values that can be used to further scan for trends, or price consolidation. I'd like some assistance on interpreting/adjusting the scan value. Thanks, Joseph Hale
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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What PCF or scan are you referring to, Joseph?
- Doug
Teaching Online!
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Registered User
Joined: 1/27/2005
Posts: 11
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The preloaded Trending/Consol 25 listed in the PCFs on TC2005.
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Thanks for clarifying, Joseph.
This PCF compares the maximum trading range over 25 days (highest high minus the lowest low), to the average trading range over the same period (average high minus the average low).
The lowest value this PCF can return is 100, because the maximum trading range could never be less than the average trading range. The closer the value gets to 100, the closer the macimum and average trading ranges are to being the same thing. In other words, stocks that return values for this PCF that are close to 100 are stocks that have been consolidating.
Conversely, stocks that return values well above 100 (perhaps 200, or 300, or 400+) would be stocks that are likely to have been trending, either up or down, during the 25 day period.
When used as a condition in an EasyScan, use this logic:
1. If you're looking for consolidating stocks, use the range selector with a condition type of value, and eliminate all but the lowest values.
2. If you're looking for trending stocks, use the range selector with a condition type of value, and eliminate all but the higher values.
- Doug
Teaching Online!
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Registered User
Joined: 1/27/2005
Posts: 11
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More specifically, I've altered the Trending/Consolidation 25 Day PCF that is in the TC2005 preloaded list, to filter for a 7 day consolidation. I'm then putting this into an easyscan following other criteria. But I'm not sure how to adjust the value output within the "edit condition" window, for optimal 7 day consolidation results. Should I be using a price percent change PCF for better results in finding price range consolidation?
In addition, is there a definitions page detailing the "conditions" on the edit conditions add criteria window, within the scans list?
Thank you, Joseph
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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If you have duplicated the built-in PCF for 25 day consolidation by replacing the 25's with 7's, you're good to go. My instructions concerning EasyScan still apply. Adjust the values using the range selector to accept only the very lowest values, and you'll find stocks that have likely been consolidating for around 7 days.
Yes, there is a Glossary of all sort and scan conditions in the help file. Click Help|TeleChart Help Topics|Glossary, and scroll down alphabetically to the condition you're looking for, and you'll find a definition.
Here is the Help File definition for the consolidating condition:
Trending/Consolidating (25 day)
Compares the average trading range to the trading range over the past 25 days. Lower values reveal consolidation while higher values reveal trending.
- Doug
Teaching Online!
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Registered User
Joined: 1/27/2005
Posts: 11
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Thank you for your assistance. One of the conditions I have in this scan is Volume (dollars) 90 day. Is the range selector value in $ or # or shares traded. The values listed to the side are 5.023741 to 4871.433. Joseph
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Here is the explanation of the condition take from the topic linked below it.
Volume (Dollars) 90-Day
This is the average daily number of shares traded over the last 90 days times the average closing price over the last 90 days.
The number is the result of this equation. It is the number of shares traded, on average multiplied by the average closing price.
Definitions of all built in scanning and sorting criteria
- Craig
Here to Help!
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Volume (Dollars) 90-Day is expressed in 10,000's of dollars. In other words, take the values you see on the range selector, and multiply by 10,000 to get the dollar volume.
Volume 90-Day is expressed in 100's of shares. In other words, take the values you see on the range selector, and multiply by 100 to get the share volume.
- Doug
Teaching Online!
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