Registered User Joined: 5/3/2013 Posts: 2
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I'm trying to set up a simple condition without much luck.
I want:
ATR(14) > C*.025
Hope you can help.
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Registered User Joined: 12/2/2004 Posts: 17
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try the following:
((H-L + ABS(H-C1) + ABS(L-C1)) /2) > C * 0.25
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Registered User Joined: 12/2/2004 Posts: 17
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I made one mistake in the formula just posted for the ATR condition. The last part of the formula should be C * 0.025 which is what you wanted. Instead I put C * 0.25. Sorry for the mistake.
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Registered User Joined: 1/28/2005 Posts: 6,049
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QUOTE (jackmerz)
try the following:
((H-L + ABS(H-C1) + ABS(L-C1)) /2) > C * 0.25
Thats not a 14 period ATR.
Thanks
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Registered User Joined: 12/2/2004 Posts: 17
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Your right the formula specified was not a 14 period ATR. It's the base formula for the ATR indicator.
Before we can create the scan condition, we first have to iterate the basic ATR formula for 14 periods. Then we can setup the condition ...... ATR(14) > C * 0.025.
The formula after we do that will be as follows:
((((H-L+ABS(H-C1)+ABS(L-C1))/2) + ((H1-L1+ABS(H1-C2)+ABS(L1-C2))/2) + ((H2-L2+ABS(H2-C3)+ ABS(L2-C3))/2) + ((H3-L3+ABS(H3-C4)+ABS(L3- C4))/2) + ((H4-L4+ABS(H4-C5)+ABS(L4-C5))/2) + ((H5-L5+ABS(H5-C6)+ABS(L5-C6))/2) + ((H6-L6+ABS(H6-C7)+ABS(L6-C7))/2) + ((H7-L7+ABS(H7-C8)+ABS(L7-C8))/2) + ((H8-L8+ABS(H8-C9)+ABS(L8-C9))/2) + ((H9-L9+ABS(H9-C10)+ABS(L9-C10))/2) + ((H10-L10+ABS(H10-C11)+ABS(L10-C11))/2) + ((H11-L11+ABS(H11-C12)+ABS(L11-C12))/2) + ((H12-L12+ABS(H12-C13)+ABS(L12-C13))/2) + ((H13-L13+ABS(H13-C14)+ABS(L13-C14))/2))/14) > (C*0.025)
To make this a scan condition go to the Library menu & initiate the Conditions menu. Under that menu choose "New Condition Formula". When the "Edit PFC" box pops up, paste the above formula into the box. Test the formula to make sure it works. Fill in the Name box to name your condition. Then save it.
You now have the condition you want to put into a scan.
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Registered User Joined: 5/3/2013 Posts: 2
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Many thanks jackmerz.
It worked like a charm.
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