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Registered User
Joined: 6/29/2005
Posts: 18
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I had a free trial to TC 2000 before and could not get a scan that came up with stocks to meet what I am looking for.Now that a new version of TC 2000 has been issued I would like to know ifI get get a listing of stocks that meet the following conditions1. The price of the stock is within 1% of the support line2. The price of the stock is within 1%of the resistance line3. The difference between the support or resistance line is at least 30%4. To be a support or resistance line there has to be at least 3 hits
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Nothing has changed in the Personal Criteria Formula Language since we previously discussed the issue in the Channeling Stocks topic.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 6/29/2005
Posts: 18
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Can a scan be written to:1. Find charts that the price is moving along a 50 day simple average andwhenever the price goes above or below the 50 days simple average it alwaysreturns to the 50 day moving average.2.If number 1 is possible then to limit the results where the movement above or below the 50 day simple average is at least 10 % away from that moving average.3. If number 1 & 2 is possible then can the scan also limit the results to find stocks where there has been at least two a second retracment was just completed.Thank you
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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It may or may not be practical depending on the specifics of what you are attempting to identify.
Over how many periods are we attempting to test that Price is "moving along a 50 day simple average"?
What constitutes "moving along a 50 day simple average"? Does the price bar have to touch the moving average? Does it have to remain within a certain percentage of the Moving Average a certain percentage of the time? If so, does any part of the price bar count? Just the close? The entire price bar?
How close to the Moving Average to we have to get to constitute a retracement? Does it have to actually touch the moving average?
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 6/29/2005
Posts: 18
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1. The period should be 6 months or 1 year 2. Moving along a 50dsma just means that the price should be moving above or below the 50dma looking for an entry point that gives at least a 1 to 1 risk/reward ratio or better assuming the price returns close to the 50dsma.3. The further the price is away from the 50 dma the better as long as it returns to the 50dma looking for at lease a 1 to 1 risk/reward. The entire price bar counts4. For retracement it does not have to touch the 50 dma but should be enough that there is a 1 to 1 risk reward ratio from the high price to the retracement Thank You
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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No, it is not practical.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 6/29/2005
Posts: 18
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Hi BrucePlease tell me why what I asked for in not practical. Maybe I can adjust the request to make it practicalThanks
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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QUOTE (kenhi) Find charts that the price is moving along a 50 day simple average...
The period should be 6 months or 1 year
Here's the main issue. We are looking for a complex requirement to be true over six months.
Even if it were a simple requirement such as the Close needs to be within 1% of the 50-Period Simple Moving Average over 50-Bars would result in a long and Slow Condition Formula:
ABS(C / AVGC50 - 1) <= .01 AND ABS(C1 / AVGC50.1 - 1) <= .01 AND ABS(C2 / AVGC50.2 - 1) <= .01 AND ABS(C3 / AVGC50.3 - 1) <= .01 AND ABS(C4 / AVGC50.4 - 1) <= .01 AND ABS(C5 / AVGC50.5 - 1) <= .01 AND ABS(C6 / AVGC50.6 - 1) <= .01 AND ABS(C7 / AVGC50.7 - 1) <= .01 AND ABS(C8 / AVGC50.8 - 1) <= .01 AND ABS(C9 / AVGC50.9 - 1) <= .01 AND ABS(C10 / AVGC50.10 - 1) <= .01 AND ABS(C11 / AVGC50.11 - 1) <= .01 AND ABS(C12 / AVGC50.12 - 1) <= .01 AND ABS(C13 / AVGC50.13 - 1) <= .01 AND ABS(C14 / AVGC50.14 - 1) <= .01 AND ABS(C15 / AVGC50.15 - 1) <= .01 AND ABS(C16 / AVGC50.16 - 1) <= .01 AND ABS(C17 / AVGC50.17 - 1) <= .01 AND ABS(C18 / AVGC50.18 - 1) <= .01 AND ABS(C19 / AVGC50.19 - 1) <= .01 AND ABS(C20 / AVGC50.20 - 1) <= .01 AND ABS(C21 / AVGC50.21 - 1) <= .01 AND ABS(C22 / AVGC50.22 - 1) <= .01 AND ABS(C23 / AVGC50.23 - 1) <= .01 AND ABS(C24 / AVGC50.24 - 1) <= .01 AND ABS(C25 / AVGC50.25 - 1) <= .01 AND ABS(C26 / AVGC50.26 - 1) <= .01 AND ABS(C27 / AVGC50.27 - 1) <= .01 AND ABS(C28 / AVGC50.28 - 1) <= .01 AND ABS(C29 / AVGC50.29 - 1) <= .01 AND ABS(C30 / AVGC50.30 - 1) <= .01 AND ABS(C31 / AVGC50.31 - 1) <= .01 AND ABS(C32 / AVGC50.32 - 1) <= .01 AND ABS(C33 / AVGC50.33 - 1) <= .01 AND ABS(C34 / AVGC50.34 - 1) <= .01 AND ABS(C35 / AVGC50.35 - 1) <= .01 AND ABS(C36 / AVGC50.36 - 1) <= .01 AND ABS(C37 / AVGC50.37 - 1) <= .01 AND ABS(C38 / AVGC50.38 - 1) <= .01 AND ABS(C39 / AVGC50.39 - 1) <= .01 AND ABS(C40 / AVGC50.40 - 1) <= .01 AND ABS(C41 / AVGC50.41 - 1) <= .01 AND ABS(C42 / AVGC50.42 - 1) <= .01 AND ABS(C43 / AVGC50.43 - 1) <= .01 AND ABS(C44 / AVGC50.44 - 1) <= .01 AND ABS(C45 / AVGC50.45 - 1) <= .01 AND ABS(C46 / AVGC50.46 - 1) <= .01 AND ABS(C47 / AVGC50.47 - 1) <= .01 AND ABS(C48 / AVGC50.48 - 1) <= .01 AND ABS(C49 / AVGC50.49 - 1) <= .01
Taking that same technique out to 51-Bars results in a Very Slow Condition Formula and I can't post those in the forums. And we aren't looking at 51-Bars, we are looking at 126-Bars for six months and 252-Bars for a year.
Nor are we looking for simple requirements. Having the entire bar count instead of just the close would dramatically increase the complexity of the formula without even considering the rest of the requirements.
QUOTE (kenhi) ...andwhenever the price goes above or below the 50 days simple average it alwaysreturns to the 50 day moving average.2.If number 1 is possible then to limit the results where the movement above or below the 50 day simple average is at least 10 % away from that moving average.3. If number 1 & 2 is possible then can the scan also limit the results to find stocks where there has been at least two a second retracment was just completed.
...
2. Moving along a 50dsma just means that the price should be moving above or below the 50dma looking for an entry point that gives at least a 1 to 1 risk/reward ratio or better assuming the price returns close to the 50dsma.3. The further the price is away from the 50 dma the better as long as it returns to the 50dma looking for at lease a 1 to 1 risk/reward. The entire price bar counts4. For retracement it does not have to touch the 50 dma but should be enough that there is a 1 to 1 risk reward ratio from the high price to the retracement
We need to check for price to generally be following along the Moving Average, but with isolated exceptions where price always returns to the Moving Average resulting in at least a 1 to 1 Risk/Reward ratio.
Now I didn't ask about how you want to define Risk/Reward. It could be simple, it could be complex. In this we only need to know that we need to know the order in which certain events happen to know that over any long length of time the resulting formula will be too slow to post. We could use the techniques in the Days Since Last Peak (or other day-counting needs) topic to measure how long ago particular requirements most recently happened and compare the number of bars ago to each other. These types of formulas are far longer and slower than the relative simple formula presented above however.
But even this technique will probably fall short, because we need for this pattern to have happened at least twice. So we can't just check for the most recent time Price deviated from the Moving Average and returned. And while there are techniques outlined in the forums for getting things like ordered lists using the Personal Criteria Formula Language, they are even more complicated than just counting how recently a particular requirement most recently occurred.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 6/17/2012
Posts: 36
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I can see the problem with creating supply and demand zones. As an example, a favorite search of mine is to find stocks with new 52 week highs and then see if it is an all time high or has been exceeded in the past. For example, PATK. I made a nice 40% profit on it because at the time it caught my attention, I found that there were higher highs back in 2007-2008. I was able to determine the supply zone and put a sell order in just before it hit that zone and consolidated.
These zones are not always highs but are irregularities or basing/consolidation on the way down in price. Usually not much different than levels of resistance.
So the question is, how can we look for such highs in the past or consolidation on the way down as far left on the chart as it necessary? Highs would seem to be easy. Consoldiation is a stalling in momentum. An unbalance in buyers and sellers. If somebody can make a scan for those things, I think that I'd go Platinum in a heartbeat!
Steve Bukosky
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