Registered User
Joined: 6/3/2005
Posts: 20
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Hello,
I've been able to replicate an envelope channel w/ a 3 width with the following formula:
Plot w/ price scale:
UPPER CHANNEL LINE: (avgc60 +1.2)
LOWER CHANNEL LINE: (AVGC60 - 1.2)
of course, this has different results depending on where the stock trades in price, but I'm looking specifically at the Diamonds (DIA).
the reason I'm doing this vs just putting in envelope channels w/ a width of 3 and a period of 60, is I am trying to replicate these results in Excel for backtesting.
Which leads me to my question - these channel lines show the way they do because I'm plotting on a price scale. Any suggestion on how to replicate those lines w/ a price scale mathematically?
thanks again for a great program. I am aware of some programs that backtest using worden data, but I have to make the above a PCF. I have, but again, this brings up the price scale issue while creating the PCF.
Marceia
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I have not yet been able to reproduce TeleChart's Envelope Channels using the Personal Criteria Formula Language. When I test your formulas, I don't seem to get lines that match a 60-Period Envelope Channel when switching symbols no matter how I set the width.
The actual values do not change when plotting versus the price scale or not. The only thing that changes is how it is displayed on the chart. When plot versus price scale is not checked, the highest value in the displayed portion of the chart should hit the top of the chart and the lowest value should hit the bottom of the chart. With plot versus price scale checked, the Custom Indicator is plotted relative to the charted price.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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