Registered User
Joined: 5/1/2006
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Hello I am new to your program and evaluating it based upon it's ability to DO PRECISE FILTERING (i.e. scanning).
As part of a multiple-characteristic scan, I am trying to create a PCF that will scan for VOLUME PERCENTAGE CHANGE. This is comparing a stocks VOLUME CHANGE as it relates to ITSELF.....NOT as compared to OTHER STOCKS. I have tried to create it as an easy scan BUT YOUR PROGRAM IS VERY LIMITED TO ONLY....SCANNING FOR VALUE....OR TO THE LIST (list rank) OR TO THE MARKET (market rank).
I want to combine this "formula" with several other criteria AT THE SAME TIME.....which I will ask about in several more follow-up questions (I was told to do this via your phone support representative).
My future questions will relate to RSI and RS lines crossing.....and also the RSI BEING AT APPROX. 50% heading upward (between certain specific parameters...certain percentage barriers). I am basically looking for stocks that are SETTING UP FOR A POTENTIALLY SUBSTANTIAL BREAKOUT TO THE UPSIDE....and I want to CATCH THEM (gather them in a "pool" of "watch very closely stocks") BEFORE THEY BREAKOUT......AND BEFORE THEY GAP UP....potentially for a large gain.
Thank you,
Mark Sanders
Thunderbird1
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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To start, please take a few minutes to review these videos:
If you are new to TeleChart READ THIS FIRST!
They will give you a head-start on the program and save you a ton of time.
Once you watch them you can create this PCF for volume percent change:
100*(V-V1)/V1
If you wanted a 50% change in the volume today vs. yesterday you can add this PCF to any EasyScan and limit it based on VALUE: 50 to MAX.
What else would you want to scan for outside of VALUE or one of the ranks? Have you watched the EasyScan video (in the list linked above) to learn how these work?
We can scan for your RSI. Please give me your RSI settings.
RS cannot be scanned for BUT it can be sorted for.
You mention RS and RSI crossing. These indicators are very different and have VERY different values. They rarely cross. They may APPEAR to cross when plotted in the same window BUT they are not on the same scale.
Let me know here anything else I can write for you.
- Craig
Here to Help!
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig,
thanks for your support....
I am looking for RSI that is closely approaching the 50% level...and then also between say 55% to 65%.
Thanks,
Mark
Thunderbird1
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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That can easily be done.
What are the exact settings for your plotted RSI?
- Craig
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig,
In response to your question about RSI settings that i am looking for......
I am looking to set up 3 different scans concerning RSI
1) when RSI is approaching the 50% mark say 40-45%.
2) when RSI has hit the 50% and then is hovering around 50%....say between 45-55%.
3) and finally where RSI has stopped hovering and is now trending upward 55%-65%.
thanks for your support,
Mark
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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What Craig needs to know is what settings you are using when you set up RSI. You have to set an RSI period, choose Wilder's Smoothing (or not), choose an average period, and indicate whether you want a simple or exponential average. These are the settings he needs before he will be able to write a PCF for you. Right click on your chart where it says RSI, and click edit. Write down the settings, and then post them here for Craig.
- Doug
Teaching Online!
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig and/or Doug,
Ok...the parameters for the RSI are PERIOD:4 and AVERAGE: 19.
As I said, I am new to your program and evaluating it TO SEE IF I ACTUALLY WANT TO USE IT ON A LONG TERM BASIS.
Also, I am sharing this information with a friend of mine who is also evaluating your program. On this note, I tried to email this "thread" to him...but your program JUST GAVE ME AN ERROR READING...???
I followed, to the letter, what Craig had given me as a formula for the PCF, for VOLUME PERCENTAGE CHANGE. I then loaded it into an easy scan.....WHAT DID I FIND AS A RESULT..? The program came up with about 30 stocks MANY OF WHICH SHOWED A FLAT LINE IN PRICE FOR MANY DAYS.....(I then verified this info with another stock chart program....HOWEVER, THE ACTUAL CHART HAD NO FLAT-LINE...) So, I am really wondering what happened....??? (did my scan ACTUALLY CHANGE the STOCK PRICE INFO...?)
Also, I tried to set up an EASY SCAN with already preprogrammed template..... "Price percentage change 1 month" I set the bar to VALUE at 5% or lower.....however, when I did this IT CAME UP WITH SEVERAL STOCKS THAT HAD CHANGED IN VALUE BY MUCH MORE THAN 5%...???
Overall, I am basically looking for formulas that will help me find stocks which are hovering close to average volume for one week to several weeks or even longer....but are below it. And then another "trigger" is when volume makes a slight increase above THAT average. Also the other parameter is RSI which is approaching 50% RSI or close to it, say 45-55%. And then another parameter is when the RSI is trending 55%-65%. And finally, when the RSI is at approximately 70%, say 65%-75%.
If you can share with me the basic formulas....I can then "tweak" them by changing the variables and see how they "perform" through experimentation.
I appreciate your feedback.
Thanks,
Mark
Thunderbird1
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I am concerned that your formulas/EasyScan appear to "not be working".
Please watch these two videos:
How to create a Personal Criteria Forumula (PCF)
Using EasyScan to find stocks that meet your own criteria
Now edit your VOLUME PERCENT CHANGE PCF. In the formula window does it have:
100*(V-V1)/V1
If it does (plz double check it), then save it and CALCULATE the PCF against ALL ITEMS IN THE SYSTEM. If you are not sure how to calculate your PCFs please review the PCF video above again.
Now make sure you are looking at a DAILY chart. Next to the EDIT button it should say DAILY.
Change your WatchList to ALL STOCKS, add volume bars to your chart and then sort by your VOLUME PERCENT CHANGE PCF.
If you are not sure how to do the above... you should go back and review the short list of videos I first linked for you above.
If you are new to TeleChart READ THIS FIRST!
Here is what we know:
-The PCFs, when entered correctly and calcualted, will do exactly what they are supposed to do
-The EasyScans, when built correctly, will do exactly what they are supposed to do
We know this because thousands and thousands and thousands of people use them daily. This is great news for you because we can, together, figure out the steps needed to get YOUR PCFs and EasyScans working correctly.
To review:
1. Please watch all the videos I linked. They are short and to the point and will GREATLY shorted your learning curve and, in the long run, save you a ton of time.
2. Check your VOLUME PERCENT CHANGE PCF and confirm that it is now working. There is no point in creating an RSI PCF until we get the VOLUME one working. If one PCF is not working then all of them could not work.
You can email this thread to your friend by giving him this URL:
http://www.worden.com/training/default.aspx?g=posts&t=12658
Please let me know how the VOLUME PERCENT CHANGE PCF works out. If you watch the videos, confirm the formula, calculate the PCF and look at a daily chart, I know that the PCF will work.
- Craig
Here to Help!
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig,
It seems that the PCF that you created for me for VOLUME PERCENTAGE CHANGE is bringing up many stocks whose pricing is FLAT....or it seems....THEY HAVE STOPPED TRADING ALTOGETHER.....such as BCF....could this be the case...? And if so, why would the scan bring up stocks that are NO LONGER TRADING...? I don't need to see stocks that NO LONGER EXIST....eh...?
I have watched the videos that you recommend OVER AND OVER AGAIN....to make sure I was "getting it" and following your instructions to the letter.
Ok, so now I will wait for your response.
Mark
Thunderbird1
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig,
I called your phone representative about the FLAT STOCKS WITH DISCONTINUED PRICE ACTIVITY to confirm that some stocks may show up that have STOPPED TRADING ALTOGETHER...(?). In my case there seems to be ALOT showing up.
Back to the VOLUME PERCENTAGE CHANGE....more specifically I am looking for stocks that are trading BELOW THEIR MOVING AVERAGE (let's say a 40-day MOVING AVERAGE) and have done this for several weeks or longer.
At the same time, I am looking for the RSI ranges that I have previously stated to you. I see the RSI calculation as being at least 3, maybe 4, distinct formulas.....that I can easily add or delete from my easyscan list.
I am generally looking for stocks that ARE GETTING READY (consolidating) for a MAJOR MOVE UP.....BEFORE THEY GAP....BEFORE THEY SURGE IN VOLUME OR PRICE (yes, I know you have a VOLUME SURGE parameter in your pre-programmed PCFs...)
Thanks for your continued support......I just want to GET TO SCANNING ....SO THAT I CAN FIND THE "POOL" OF STOCKS THAT I CAN WATCH MORE CLOSELY.
Mark
Thunderbird1
Thanks for your support.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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There is a big difference between volume percent changes and how volume compares to its own average.
When you sorted ALL STOCKS by the VOLUME PERCENT CHANGE did the percent change numbers match the volume changes on the chart? Keep in mind that the PCF I gives the percent change in volume from yesterday to today.
QUOTEI am looking for stocks that are trading BELOW THEIR MOVING AVERAGE (let's say a 40-day MOVING AVERAGE) and have done this for several weeks or longer.
Do you want their price to be below the 40-day simple moving average of price OR do you want the volume to be below the 40-day simple moving average of volume?
For your RSI please create this PCF
RSI Today
RSI14.9
Once created and saved you can either SORT by it or, in EasyScan, use condition type VALUE to limit the values to any range you like.
Let me know how it works out for you.
- Craig
Here to Help!
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig,
Ok, I am hoping to CLARIFY ....EXACTLY ....what I am looking to scan for...
I am finding this discussion format a bit FRUSTRATING (ACTUALLY....VERY FRUSTRATING...)....IN THAT...I CAN'T JUST ASK YOU....POINT BLANK AND DIRECTLY ...FOR JUST WHAT I AM LOOKING TO DEFINE...AND THEN HAVE YOU CONFIRM OR DENY....(VERIFY) WHAT I AM ATTEMPTING TO COMMUNICATING TO YOU....
Ok, I am looking to define:
VOLUME PERCENTAGE CHANGE.....AS IT RELATES TO AN INDIVIDUAL STOCKS OWN VOLUME MOVING AVERAGE. As I stated, let's go with 40 moving average...(YES, that's MOVING AVERAGE FOR VOLUME .....NOT price.)
I am also looking to DEFINE the movement in RSI, and it may be that i can create 3 OR 4 different and distinct parameters for this. And when I speak of RSI, I am also talking about IT'S MOVING AVERAGE.....as I stated earlier...as EXAMPLES....ONE for between 45%-55% ANOTHER ONE for 55-65% and another one for 65%-70%.
I already know that your TEMPLATE PCFs already contains RSI-Today and also RSI-Yesterday....and i know that i DON'T have to create them from scratch.
So, what I am looking for, are stocks that have been TRADING FLAT.....in other words......THEIR VOLUME IS BELOW THEIR 40 DAY MOVING AVERAGE (AND HAS BEEN FOR SEVERAL WEEKS)...AND THEN THE VOLUME IS STARTING TO SHOW THE INITIAL SIGNS OF A SURGE....A SLIGHT VOLUME INCREASE (THIS COULD BE THE PCF THAT YOU ALREADY CREATED FOR VOLUME PERCENTAGE CHANGE)......AND THEIR RSI (RSI-MOVING AVERAGE) IS EITHER APPROACHING 50%..(45%-50%)...OR HAS GONE BEYOND 50% AND IS HOVERING AROUND THE 50% LEVEL (45%-55%)....OR IS TRENDING UPWARD, SAY BETWEEN 55%-65%.....OR IS APPROACHING THE 70% MARK (65%-70%)
If you give me THE BASIC FORMULA .....then I can then ADD THE MORE SPECIFIC VARIABLES.......where I can then narrow my scope to more specifics.....TO WHERE I CAN "TWEAK" IT TO A GREATER DEGREE OF PRECISION.
Respectfully,
Mark
Thunderbird1
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I've given you the PCF for the RSI. You do need to create this one from scratch so it matched the settings for your plotted RSI on your chart.
Let me recap.
STEP 1
Create the following PCFs:
Volume below 40ma 2-weeks
V<AVGV40 AND V1<AVGV40.1 AND V2<AVGV40.2 AND V3<AVGV40.3 AND V4<AVGV40.4 AND V5<AVGV40.5 AND V6<AVGV40.6 AND V7<AVGV40.7 AND V8<AVGV40.8 AND V9<AVGV40.9
Volume Percent Change
100*(V-V1)/V1
RSI 1-wk Change
RSI14.9-RSI14.9.5
Tbird RSI Today
RSI14.9
STEP 2
After you create these three PCFs and calulate them please create the following EasyScan
WatchList (ALL STOCKS)
Price Per Share (limit based on your trading)
Volume 90-day (limit based on your trading)
Volume below 40ma 2-weeks (no limits needed)
Volume Percent Change(VALUE: 1 to MAX)
Tbrid RSI Today (VALUE: 45 to 65) - you can set this value range as wide or narrow as you like
RSI 1-wk Change (VALUE: 1 to MAX)
STEP 3
Save and name your EasyScan. You should only see stocks where the following are true (be sure you are on a DAILY chart)
1. Their price per share fits the limits you set
2. Their average volume fist the limits you set
3. Thier daily volume for the past 2 weeks never exceeded their 40-day simple moving average of volume
4. The volume today is higher than yesterday
5. The RSI is between 45 and 65 today
6. The RSI is up from last week (4 days ago)
If you create the PCFs and build this EasyScan and find stocks that do not fit these six requirements, please give me the ticker so I can try and figure out why it would show up in the EasyScan.
- Craig
Here to Help!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Also... In the future, try to avoid having ALL CAPS in your post. It is tough to read and appears that you are SHOUTING! You don't need to highlight aspects of your posts. I read them all very carefully.
- Craig
Here to Help!
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Registered User
Joined: 5/1/2006
Posts: 22
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Hi Craig,
OK....well....we're getting closer.....but i am finding your program is NOT accurate...(???).
as far as stocks being below the 2 week moving volume average....
here is just a partial list that DO NOT meet the specified/defined volume criteria as per your formula....
CBB
TASR
TEO
DYN
GNCMA
ESLR
GLNG
ECIL
BTO
SLW
TGS
take a look and see what you think...
Mark
Thunderbird1
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig,
something else that I should have mentioned also.....was/is that IF volume does go ABOVE the moving average in the last 2 weeks (Volume today...) that I am looking for a POSITIVE VOLUME CHANGE.....NOT negative....
is there a way to "tweak" the formula for a positive change in volume...?
thanks,
Mark
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig,
in other words i am looking for a GREEN BAR (volume) NOT a RED BAR which spikes above the 40 day VOLUME moving average
mark
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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CBB returns FALSE for the condition I gave you:
V<AVGV40 AND V1<AVGV40.1 AND V2<AVGV40.2 AND V3<AVGV40.3 AND V4<AVGV40.4 AND V5<AVGV40.5 AND V6<AVGV40.6 AND V7<AVGV40.7 AND V8<AVGV40.8 AND V9<AVGV40.9
I can promise the program is accurate - it has been used and tested by hundreds of thousands of people over the last 15+ years. There is some step missing in the making of the PCF and the EasyScan. We figure out what that missing step is so we can get you what you want.
I need you to check a few things for me.
Jump and look at CBB.
On the chart in the upper left corner it has the ticker/company name.
Under that is the industry/subindustry.
Under that is the current chart template you are looking at. Please click on this THEN click DATA SHEET.
Scroll down the list until you find the condition:
Volume below 40ma 2-weeks
There are two columns to the right of this condition. What is in both columns?
I will address the other questions once we get your PCFs working properly.
- Craig
Here to Help!
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Registered User
Joined: 5/1/2006
Posts: 22
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Yes Craig...
I have followed your instructions
"YES" appears in both columns.
mark
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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"Yes" is not possible.
Do you mean "True"?
- Craig
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig...
yes....it is TRUE in both columns
Mark
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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OK.
Now we have to be sure it is calculated on the most recent data.
Click on DATABANK
then PERSONAL CRITERIA FORMULA
be sure the calculate for is set to ALL ITEMS IN THE SYSTEM
then click UPDATE ALL CRITERIA.
Did it calculate? Does the value for CBB chnage to false?
If it now says FALSE we know your PCFs where not calculated. Go check your EasyScan again and tell me if the stocks meet all the conditions I outlined above.
If it still says TRUE please do the following:
On the left above the list of tickers but below the WatchList name you have selected you should see SORTED BY:
Click it then the PCF (Fx) category.
Click the pencil/paper icon to the right of the PCF "Volume below 40ma 2-weeks".
This will edit this PCF.
Please click the TEST button, change the test symbol to CBB and post here for me everything listed in the while box AND what it says for RESULT.
- Craig
Here to Help!
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig,
here is the result of what you asked me to do....after testing the PCF on ticker symbol CBB
9539.00 < 13388.67 12946.00 < 13354.90 28460.00 < 13492.28 28426.00 < 13009.97 23379.00 < 12993.22 24092.00 < 12783.75 9451.00 < 12536.67 5632.00 < 12548.22 9455.00 < 12637.55 8527.00 < 12610.38
Ok, I will check back with you soon.
Mark
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Are there no "AND" between each set of "number<number" or did it give you the string of numbers exactly as you typed above?
What does it say under this by the word "RESULT"?
Did you run the steps for the update?
Did it have to calculate?
Does it still have TRUE in both columns on the Data Sheet for CBB?
- Craig
Here to Help!
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Registered User
Joined: 5/1/2006
Posts: 22
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QUOTE (Craig_S) Are there no "AND" between each set of "number<number" or did it give you the string of numbers exactly as you typed above?
What does it say under this by the word "RESULT"?
Did you run the steps for the update?
Did it have to calculate?
Does it still have TRUE in both columns on the Data Sheet for CBB?
Craig,
It gave me the exact numbers as listed as I gave to you (I copy and pasted them). It says TRUE by the word RESULT.
YES, I ran the steps for the update. YES, it calculated. YES, it still has TRUE in both columns on the Data Sheet for CBB.
Mark
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Go back and edit the PCF again for me.
It should have the following for the formula (including everyone of the ANDs):
V<AVGV40 AND V1<AVGV40.1 AND V2<AVGV40.2 AND V3<AVGV40.3 AND V4<AVGV40.4 AND V5<AVGV40.5 AND V6<AVGV40.6 AND V7<AVGV40.7 AND V8<AVGV40.8 AND V9<AVGV40.9
Based on what you say above your version is missing the "AND" between each element. If my guess is correct, please go back to my post on Friday, May 05, 2006 4:19:35 PM and confirm that all of the PCF are copied to your system correctly and exactly as I give them.
Once they are copied correctly go through the steps in that post and everything should be working.
If not, please give me a ticker that the scan finds now that it should not find.
- Craig
Here to Help!
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig,
I went back and DOUBLE AND TRIPLE CHECKED the feedback you gave me.
I then RE-RAN the easyscan based on the parameters we set.
Today, I came up with 9 picks.
Out of the 9, there were(are) 6 that have FLAT-LINES IN PRICE. (discontinued stocks..?).
here is the list that were(are) FLAT-LINERS:
TSD
TRO
JOR
DEZ
GEAC
GLDB
Mark
P.S. I did go back and put in the "AND" between the variables for volume change below 2 week moving average....but am still getting the FLATLINERS.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Add this additional PCF to any EasyScan and you will no longer get flatliners
Still Trading
MINL5<>MAXH5
After you create this PCF your new EasyScan will look like this:
WatchList (ALL STOCKS)
Price Per Share (limit based on your trading)
Volume 90-day (limit based on your trading)
Volume below 40ma 2-weeks (no limits needed)
Volume Percent Change(VALUE: 1 to MAX)
Tbrid RSI Today (VALUE: 45 to 65) - you can set this value range as wide or narrow as you like
RSI 1-wk Change (VALUE: 1 to MAX)
Still Trading (no limits needed)
How did the other 3 stocks look? Did they fit your conditions?
It was a HUGE step in the right direction to figure out the error in the PCF. Create and add this latest PCF and let me know how things work for you.
- Craig
Here to Help!
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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It makes sense that the flatliners are showing up. All of them appear to have stopped trading, so volume for each of the past nine days is certainly going to be below the 40 day moving average of volume.
- Doug
Teaching Online!
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig,
OK....GREAT ..! we got rid of the FLATLINERS...! And now i have a better group of stocks from which to choose.
I would like to ask you, What would i do to EXTEND the time period for my PCF---"volume below 40 moving avg-2 weeks" to be LONGER THAN 2 WEEKS...? What would that formula look like..?
Thanks for all your support...!
Mark
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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My pleasure. Here are a few more versions of that PCF to play with. Keep in mind, the longer you extend that requirement, the fewer stocks you will find....
Volume below 40ma 3-weeks
V<AVGV40 AND V1<AVGV40.1 AND V2<AVGV40.2 AND V3<AVGV40.3 AND V4<AVGV40.4 AND V5<AVGV40.5 AND V6<AVGV40.6 AND V7<AVGV40.7 AND V8<AVGV40.8 AND V9<AVGV40.9 AND V10<AVGV40.10 AND V11<AVGV40.11 AND V12<AVGV40.12 AND V13<AVGV40.13 AND V14<AVGV40.14
Volume below 40ma 4-weeks
V<AVGV40 AND V1<AVGV40.1 AND V2<AVGV40.2 AND V3<AVGV40.3 AND V4<AVGV40.4 AND V5<AVGV40.5 AND V6<AVGV40.6 AND V7<AVGV40.7 AND V8<AVGV40.8 AND V9<AVGV40.9 AND V10<AVGV40.10 AND V11<AVGV40.11 AND V12<AVGV40.12 AND V13<AVGV40.13 AND V14<AVGV40.14 AND V15<AVGV40.15 AND V15<AVGV40.15 AND V15<AVGV40.15 AND V15<AVGV40.15 AND V15<AVGV40.15
- Craig
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Registered User
Joined: 5/1/2006
Posts: 22
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Thanks Craig,
One more thing, for now, and that is THIS, What would be the formula for a PCF for WHEN THE VOLUME WOULD START TO "PEEK IT'S HEAD" ABOVE THE 40 day MOVING AVERAGE (even if so ever slightly...) ?
Mark
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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In each of the formulas I gave above change the first term:
V<AVGV40
to
V>AVGV40
- Craig
Here to Help!
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig,
so far ....the scan is coming along great...
I would like to ask you....how can I set up the VOLUME SURGE (daily or otherwise) as a differential in PERCENTAGE ? (in other words....if a stocks volume goes up say more than 50% in one day)
I am not sure how to do this ....by moving the blue bar up or down when it is on the VALUE SCALE...? (again, I am NOT looking at the stock in how it relates to OTHER stocks ...but how it is changing according to ITSELF.......A CHANGE IN IT'S OWN VOLUME CHARACTERISTICS)
Thanks,
mark
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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The VALUE scale for Volume Surge today is compared to itself.
If a stock have a VALUE of 200 for Volume Surge Today it means the stock's volume today 200% the value of its average trading volume (it is twice the value).
Market Rank and List Rank are compared to other stocks, Value is only for the stock itself.
Sort any WatchList by Volume Surge Today and look at the values vs. the chart to see the relationship.
- Craig
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig,
thank you so much for your KEEN support....you are a GREAT "HUNTING" GUIDE......in the STOCK JUNGLE...!
Hey, listen, I am learning about JAPANESE CANDLESTICKS.....do you know what a SOLID BLACK BODY signifies....? I know that there are hollow/solid GREEN and/or RED bodies.....BUT WHAT DOES A SOLID BLACK BODY TELL US....?
thanks,
Mark
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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A solid black body simply means that the stock closed lower than it opened.
- Doug
Teaching Online!
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Registered User
Joined: 5/1/2006
Posts: 22
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Hi Doug,
In comparison with some other charting software......some software programs use all three.....either white or green bodies....along with RED ....and they also have BLACK bodies.....
this is why I ask.....it seems that the RED bodies correlate with NEGATIVE VOLUME (more sellers than buyers..?).
Is there a reason that TC2000 doesn't use the COLOR RED with candlesticks...?
Would it be too confusing to have RED also as a MARKER/SIGNIFICATOR...?
As a case-in-point, I am referring to www.stockcharts.com....and I am looking (targeting) PEIX as an example.
Are there any of your videos that you could point me to about Japanese Candlesticks...?
Thanks so much for your guidance..!
Mark
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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My definition was the standard application for a solid black body. I can only confirm how TeleChart displays candles, which you can read at the following link:
solid and open candles
- Doug
Teaching Online!
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Registered User
Joined: 5/1/2006
Posts: 22
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Hello Craig,
Thanks for all your great work....things are coming along....finding some nice picks.
I do need to mention to you, though, that TC2000 doesn't seem to always find the stocks that match the PRECISELY DEFINED parameters.
Current case in point, I created an easy scan for "VOLUME triggered above 40 day moving average" wherein I took the formula you gave me for the 4 WEEK volume moving average (40 day mov avg) and i changed the FIRST TWO DAYS of the formula to READ GREATER THAN.
and I then scanned ALL STOCKS ....with ONLY this (PCF)indicator.....it came up with 3 picks.....HOWEVER, none of the 3 match the criteria....
here are the 3:
anst
ngs
khk
I then sorted by the same criteria and they all show "TRUE" in the right column.
See if you find the same results. I am finding that the VOLUME PCFs are NOT giving us accurate readings.
Thanks,
Mark
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