| Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User
Joined: 1/11/2006
Posts: 10
|
I've been playing around with the scan to find stocks that are bouncing in a lateral channel. Is there a way to add a formula to find stocks near the top or bottom of their channel?
|
|
Worden Trainer
Joined: 10/1/2004
Posts: 18,819
|
Sure... the Stochastic indicator will do this for you.
What period are you looking at for your lateral channel (how long is it)?
Set this as your period for your Stochastics.
Lets say you are looking at a 10-day period....
This PCF would work:
STOC10.1>90 OR STOC10.1<10
Change the 10 to fit the period of your channel.
- Craig
Here to Help!
|
|
Registered User
Joined: 1/11/2006
Posts: 10
|
Thanks. That's a lot simpler than the formula I was going to try to write.
|
|
Registered User
Joined: 1/11/2006
Posts: 10
|
My scan is for 60 day channels, but, I guess if I didn't want to eliminate too many stocks, I could change this new formula to 40 or 30 with no problem?
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
If you don't want to eliminate too many symbols, the best thing to do would be to adjust the channel percentages appropriately:
STOC60.1 > 90 OR STOC60.1 < 10
would return the symbols in the top 10 and bottom 10 percent of 60-Period Range while:
STOC60.1 > 80 OR STOC60.1 < 20
would return symbols in the top and bottom 20 percent.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
Registered User
Joined: 1/11/2006
Posts: 10
|
I see.
|
|
Registered User
Joined: 1/11/2006
Posts: 10
|
That was real helpful, I just put it in and the charts look much better. I then made two scans, one with stocks near the top and the other with them near the bottom. Now I should be able to fine tune each scan for the characteristics of each.
|
|
Worden Trainer
Joined: 10/1/2004
Posts: 18,819
|
Glad to hear it!
Here is another neat PCF to add to your WatchList column that will show the range during your 60 days:
MAXH60-MINL60
Create the PCF and then add it to your WatchList tab as a column. This will let you quickly see the net range for every stock. Here is a video to check out:
Customize the Information Displayed in the WatchList
- Craig
Here to Help!
|
|
Registered User
Joined: 1/11/2006
Posts: 10
|
very convenient. Quickly eliminates pointless trades.
|
|
|
Guest-1 |