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Registered User Joined: 8/9/2010 Posts: 86
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Bruce, I use a moving average crossing scan on an hourly chart. What I've noticed is that the scan finds stocks that are crossing at the time of the scan on the hourly chart. I like to run the scan at the end of the day, and would like it to cover the entire day of any stocks crossing during the last 6.5 hours of that current day on the hourly chart.
Is this possible?
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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You could do this using a Custom PCF % True Indicator with the Period set to 6 or 7 (depending on if you want to count crosses between the previous day and the first bar of the day) and the Average Type set to Simple.
We would need to know the settings of any moving averages (period and average) involved in the cross.
We would also need to know if the direction of the cross matters and if you want to include the highs and lows in determining if there was a cross or just the closing price of each bar.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 8/9/2010 Posts: 86
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Actually how would I set up a custom condition the scanned for 5 or more green up hour bars in a day?
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Follow the directions given in my Candle Indicator post.
Then click on the Custom PCF Indicator and select Create Scan Condition to check for the Custom PCF Indicator being greater than 4.5.
Create Conditions from Your Chart (5:25)
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 8/9/2010 Posts: 86
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Something isn't working right.
Ignore the moving averages out of the equation. I only care if 5 or more candles closed higher than the previous candle (C>C1) out of the last 7 candles on an hourly chart.
I tried monkeying with different formulas but couldn't get the indicator or condition to work right.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Create a Custom PCF Indicator with the following settings.
- Period: 7
- Average Type: Simple
- Formula: 7 * ABS(C > C1)
The indicator will return a count of the number of times the close was above the previous close in the most recent 7 bars.
So you can click on the Custom PCF Indicator and select Create Scan Condition to create a condition for the value of the Custom PCF Indicator being greater than 4.5 to check for C > C1 it least 5 out of the most recent 7 bars.
Another way to do this would be to create a Condition Formula. It is a lot easier to adjust the Custom PCF Indicator however.
ABS(C > C1) - (C1 > C2) - (C2 > C3) - (C3 > C4) - (C4 > C5) - (C5 > C6) - (C6 > C7) > 4.5
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 8/9/2010 Posts: 86
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I don't understand the Average Type?
I use an Exponential and Simple Average on the hourly chart.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Select Add Plot to Chart (the green + in the upper left corner of the chart) and choose Custom PCF Indicator from the list. You can start typing Custom PCF Indicator to quickly narrow down the list to make it easier to find and select.
Once the Custom PCF Indicator is added to the chart, you can click on the Custom PCF Indicator (it will probably say Formula(C) where you want to click) and select Edit to edit the Custom PCF Indicator.
Once the edit window is up, you will see the settings of the Custom PCF Indicator. Period, Average Type and Formula are just three of the settings of the Custom PCF Indicator.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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