Registered User
Joined: 10/10/2007
Posts: 5
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I currently have a PCN in TC2000 Version 7 for a 5day Pinbar with the formula;
L <= C5 MINL5
Please advise the formula for any two 5 day pinbars within 5 candlesticks, in any order but overlooking if there is only one pinbar in these periods.
Thanks,
Rhodrons.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The formula:
L <= C5 MINL5
Does not make senes. Everything after:
L <= C5
Is not evaluated.
In a TC2000 version 7 Personal Criteria Formula, C5 would be the close of the previous 5-Day Bar, but L would be the low of the current Daily bar and not represent anything about a 5-Day bar, while MINL5 (which is not being evaluated at all) would be the low of the current 5-Day Bar.
I could see if L <= C5 is true during exactly two of the five most recent Daily Bars:
ABS(L <= C5) - (L1 <= C6) - (L2 <= C7) - (L3 <= C8) - (L4 <= C9) = 2
Or check for the formula to have been true exactly twice out of the end date of the five most recent 5-Day Bars:
ABS(L <= C5) - (L5 <= C10) - (L10 <= C15) - (L15 <= C20) - (L20 <= C25) = 2
But I don't see how either one would be checking for exactly two 5-Day Pinbars within five candlesticks.
I tried to get clarification as to your specific unambiguous definition of Pinbar in the Candlestick Pattern topic. I would still need that definitiion to help you create the formula. It is also quite possible the formula will not be short enough to be practical or to post in the forums.
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 7/17/2007
Posts: 3
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Hi Bruce,
I am new on the PCF formula but would like to know about pin bar also. I only know how to explain what I want in words or picture not in formula. The above formulas don't seem to bring up what I call a pin bar. Can you help?
I am looking for the current bar at CLOSE to have a long tail and open and close within the previous bars range. You may know what I am talking about. I don't know how to say I want to wick to be 3X longer than the body and pointing in the same direction as the previous trend. LOL maybe I don't know how to put in words. Here is a link with picture http://www.forexstrategiesresources.com/patterns-forex-strategies/3-pin-bar-and-awesome/
any help would be great
thanks
Vince
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Registered User
Joined: 7/17/2007
Posts: 3
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Also that would be a formula to use on any time frame and for bullish or bearish. Long wick points in direction of previous 4 bar trend and small body contained (open and close) within the range of previous bar. tail protrudes far above the other candles. :)
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The following Condition Formula:
3 * (C1 - C4) + C2 > C3 AND H > MAXH4.1 AND H1 > O AND H1 > C AND O > L1 AND C > L1 AND 2 * H - O - C > 7 * ABS(O - C)
Checks for the previous four bars to have a positive linear regression slope, the high of the current bar to above the highs of the previous four bars, the open and close of the current bar to entirely within the range of the previous candle and the upper wick of the current bar to be more than three times the size of its body.
The following Condition Formula:
3 * (C1 - C4) + C2 < C3 AND L < MINL4.1 AND H1 > O AND H1 > C AND O > L1 AND C > L1 AND O + C - 2 * L > 7 * ABS(O - C)
Checks for the previous four bars to have a negative linear regression slope, the low of the current bar to below the lows of the previous four bars, the open and close of the current bar to entirely within the range of the previous candle and the lower wick of the current bar to be more than three times the size of its body.
You can combine the two formula by putting them in parentheses and connecting them with OR:
(3 * (C1 - C4) + C2 > C3 AND H > MAXH4.1 AND H1 > O AND H1 > C AND O > L1 AND C > L1 AND 2 * H - O - C > 7 * ABS(O - C)) OR (3 * (C1 - C4) + C2 < C3 AND L < MINL4.1 AND H1 > O AND H1 > C AND O > L1 AND C > L1 AND O + C - 2 * L > 7 * ABS(O - C))
You can set the Time Frame of a Condition Formula in TC2000 version 12 by using the Time Frame drop-down menu when it is created or edited.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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