| commtrd |
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Gold User, Member, TeleChart
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| Registered User |
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| Unsure |
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| Monday, May 8, 2006 |
| Friday, December 16, 2016 8:44:12 AM |
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I have looked and looked and cannot seem to find out how to write a pcf for when price is say within one or two percent of a 50 sma. This should not be tpoo hard to do? But I am severely challenged in writing pcf's based on indicators because I do not use indicators to trade with at all. BUT for scanning purposes I would like to see a list of stocks where the price is within a percentage of that 50sma if at all possible? Please help? Can a pcf be written that would reference the same condition on both the weekly and daily charts to show when that condition is present on both time frames at the same time for scanning purposes? Thanks in advance!
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Hi Bruce,
How could I write a formula (very simple probably) to show me a true condition to use for scans where the 5 period simple moving average is equal to or close to the 20 period exponential moving average? I see plenty of examples of MA's crossing but that is not my criteria. Say the 5 and the 20 are equal and their difference is zero or less than 0.25% apart. Relative position of one line to another not important.
Not important which line is above or below the other, just the proximity being within a given tolerance (whether percent or a dimensionless number) so that this is an attempt to utilize pattern recognition by proxy using this formula in conjunction with other criteria. I have been beating my head against a wall trying to figure this out and finally relent to ask for help from a guru...
In other words I want to see the proximity of one line to the other and not a crossing type scenario. I just can't seem to get the syntax right to successfully make the pcf. Any help on this greatly appreciated.
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Thanks for the input Bruce.
I think the modification of using correct number of days times the desired ma length will get me there for what I am trying to do. Basically scanning for a proxy of a certain price bar / close relationship pattern which is statistically accurate to where traders would not even believe how accurate the pattern is for anticipating test points accurately and structuring my risk. I just cannot go through a couple of thousand stocks every night realistically so the list needs to be trimmed down somewhat.
I love using TC2007...it is a wonderful tool. I have much more experience with TradeStation but the scanning capabilities with TC2007 are a great tool TS would have a tough time duplicating. EasyLanguage is anything but easy...
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I tried using an equivalent number of days
(25 for the 5) and (100 for the 20) to simulate the weekly chart plot and that seemed to work OK as long as I only run the scan on a weekend.
Still want to find out if it is possible to reference different time frames when generating pcf's for use in scans. My use of indicators is very limited to only when it is too difficult to write formulae that would identify specific price bar patterns. I trust price bars a lot more than indicators.
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How would I write a pcf that references specific time frames such as weekly only? Example: a simple MA crossover written so that it will return true on a weekly chart when say a 5 ma crosses a 20 ma; NOT just a 5 day chart but a true weekly chart where the bars are formatted from Mondays open to Fridays close.
I copied a pcf which seems to only return correct indication on daily charts but does not work correctly on the weekly charts. I thought that it would automatically adjust to the time frame of the chart it was plotted on but that does not seem to be the case here. It is very important to be able to use the concept of interfacing time frames and write a pcf to utilize the concept functionally accurately.
Thanks in advance for any help on this.
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