Registered User Joined: 10/28/2009 Posts: 40
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I would like a PCF to find the boxed in areas of charts like UTHR & B. These are uptrending charts that rise and fall into a consolidation zone then repeat.. The 200 SMA can be above or below the 50 SMA.
Charles
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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The following Condition Formula checks for the range of the most recent 6 bars to stay between 30% and 85% of the total range of the most recent 36 bars. You can adjust both the short period and the long period as desired.
(MAXH6 - MINL36) / (MAXH36 - MINL36) < .85 AND (MINL6 - MINL36) / (MAXH36 - MINL36) > .3
While it does return true at about the same times as the boxes for both symbols, both the periods and the percentages were arbitrarily chosen.
If you want to use a different technique then you would need to provide specific unambiguous objective definitions outlining exactly how drawing those specific boxes might be determined. That the boxes were drawn around groups of candles that "looked right" would be an entirely subjective criteria which cannot be reproduced in TC2000 (as a computer does not have any aesthetic sense at all, let alone the same aesthetic judgement as the person drawing the boxes).
-Bruce Personal Criteria Formulas TC2000 Support Articles
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