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Registered User Joined: 2/28/2011 Posts: 33
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Bruce, Is it possible to put green/red dots on the chart when the upper/lower donchian channel lines are touched by line around which the donchian channel is plotted? thanks
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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It should be possible, but I would need to know the exact settings of the Donchian Channels.
- Period: ?
- Offset: ?
- Based On: ?
- Data Source: ?
And the line around which the Donchian Channel is plotted (it may not actually be possible depending on the line).
I would also need to know if being above or below counts as touching or not.
If the Donchian Channels are around price and Base On is set to Close Only, I would also need to know if the high and low "tocuhing" counts or if only closing prices would be included.
Oh, and do you just want a line of dots, or do you want the dots plotted based on the value of the indicator?
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 2/28/2011 Posts: 33
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Period 50, offset 0, based on close (not high/low), data source is RS line of stock vs SPX. I have set it up w/ donchian channel, but the touches are hard to see. Plus I cannot check it manually since the values are truncated at 2 decimal points. I have other data sources (OBV and cumulative acc/dist) too where I intend to do the same for easy visibility of touches/pierces.
Above or below (i.e. pierce throughs) counts as touching. Only close (not high/low) counts as touching.
Do not understand the last Q. I have the lines w/ donchian channels already plotted. I would like to overlay on this plot a green dot when upper boundary of the donchian channel is touched/pierced and red dot when the lower boundary of the donchian channel is touched/pierced.
thanks
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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You can do this either with a single Custom PCF Indicator and a single color.
Formula: C / ABS(C = MAXC50 OR C = MINC50)
Or using two Custom PCF Indicators if you want different colors.
Formula: C / ABS(C = MAXC50)
Formula: C / ABS(C = MINC50)
In either case, you will set Plot Style to Dots, Period to 1, and Average Type to Simple. You will also overlay the Custom PCF Indiactor(s) into the same pane and scale as price (so choose & Scale With).
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 2/28/2011 Posts: 33
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I am not looking for dots to be placed for 50 day stock price close highs/lows.
I am looking for dots to be placed for 50 day highs/lows of the RS line between a stock ticker and SPX. Similarly, dots for 50 day highs/lows of OBV line of a stock ticker.
Is this doable?
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Registered User Joined: 2/28/2011 Posts: 33
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I am thinking 'C' here would have to be replaced by the formula for the RS line between the stock and spx. I am not sure this can be done.
Similarly, C would have to be replaced by the OBV formula. Perhaps this can be done. Can you give me the OBV formula I can use instead of 'C' in the dot plots?
I created cumulative accumulation distribution plot using the instructions posted on another response (one where 3 different calcs are involved). Can red/green dots be placed on this plot as well?
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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It cannot be done for RS as there isn't a way to write an automated formula for RS in the Personal Criteria Formula Languge because there isn't a way to reference another symbol.
It cannot be done for OBV if you use the OBV indicator itself, but it should work for OBV if you use a Custom Indicator for OBV instead. You would plot this using the Line Plot Style.
Formula: OBV
Then you could use the following for the single color version.
Formula: OBV / ABS(OBV = MAX(OBV, 50) OR OBV = MIN(OBV, 50))
Or the following formulas in two different Custom PCF Indicators for the two color version.
Formula: OBV / ABS(OBV = MAX(OBV, 50))
Formula: OBV / ABS(OBV= MIN(OBV, 50))
I cannot think of a way to do this for an arbitrary Custom PCF Cumulative indicator instead.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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