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Worden Discussion Forum » Customer Training & Support » Ask a Trainer - TC2000 version 7 » Overbought Oversold Indicator Moving Above Below Defined Value

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investit
Posted : Friday, December 4, 2009 6:54:34 PM
Gold Customer Gold Customer

Joined: 7/13/2007
Posts: 28

Hi,
  
          I am using the following indicator as an oscillator to locate overbought oversold areas    100 * (C - MINL5) / (MAXH5 - MINL5). Is there a way in telechart to locate when this indicator crosses above an oscillator value of 20 and below an oscillator value of 80

                                                                                                                                             Thanks,  
                                                                                                                                                         Marty

 
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StockGuy
Posted : Friday, December 4, 2009 10:20:34 PM

Administration

Joined: 9/30/2004
Posts: 9,187

Create two Personal Criteria Formulas (PCFs) using the following:

OBOS crossing up through 20
(C1 - MINL5.1) / (MAXH5.1 - MINL5.1)  < .2 and (C - MINL5) / (MAXH5 - MINL5) > .2

OBOS crossing down through 80
(C1 - MINL5.1) / (MAXH5.1 - MINL5.1) > .8 and 100 * (C - MINL5) / (MAXH5 - MINL5) < .8

I left out the * 100 just to simplify the formula a bit. 

You can either create two EasyScans, one for each PCF, or just add them as columns to the watchlist and click on either to sort.  Stocks passing either formula will show True in the appropriate column.
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