Registered User Joined: 2/11/2013 Posts: 78
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I'd like to write a scan (not build off chart) using the StochRSI. Specifically, I want a 7,7,3 StochRSI.
Based on earlier posts (Ver 7 I believe) I developed this code...but it is not working. Can you please help me fix this scan (or start fresh if I'm off-base).
(100 * ((RSI7 - MIN(RSI7,7)) / (MAX(RSI7,7) - MIN(RSI7,7)) + (RSI7.1.1 - MIN(RSI7.1.1,7)) / (MAX(RSI7.1.1,7) - MIN(RSI7.1.1,7)) + (RSI7.1.2 - MIN(RSI7.1.2,7)) / (MAX(RSI7.1.2,7) - MIN(RSI7.1.2,7)) + (RSI7.1.3 - MIN(RSI7.1.3,7)) / (MAX(RSI7.1.3,7) - MIN(RSI7.1.3,7)) ) / 3 ) <=10
This pcf is intended to find StochRSI 7,7,3 <= 10 (but delivers a full range of StochRSI values.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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The formula as written looks like it would work if the StochRSI were based off of the plain RSI without Wilder's smoothing built in.
It will not work for an actual StochRSI which is constructed using an RSI with Wilder's smoothing. There is no way to construct such a formula which would be short antd fast enough to be practical or post in the forums.
All you can do is click on the StochRSI indicator on the chart and select Create Scan Condition.
Create Conditions from Your Chart (5:25)
There is not a way to construct the desired formula to use in a Custom PCF Indicator of some sort or if you would need to use it in an EasyScan where you want to use OR instead of AND.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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