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Worden Discussion Forum » Customer Training & Support » Ask a Trainer - TC2000 version 7 » scan for candlesticks

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ewoelbel
Posted : Tuesday, September 26, 2006 4:02:05 PM
Gold Customer Gold Customer

Joined: 3/28/2005
Posts: 39
 How do I create a scan looking for large candlesticks with little or no wick that are at the 15 day moving average. I would like this information for green/white (or 'up) candles; as well as red/black (or down) candles. I appreciate your help.
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Craig_S
Posted : Tuesday, September 26, 2006 4:04:21 PM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819
 By "at" to you mean the 15-day ma falls between the high and low?

Is the moving average simple or exponential?
- Craig
Here to Help!
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ewoelbel
Posted : Tuesday, September 26, 2006 4:07:38 PM
Gold Customer Gold Customer

Joined: 3/28/2005
Posts: 39
 yes - falls somewhere within the body. Moving average is exponential. thanks Craig
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Craig_S
Posted : Tuesday, September 26, 2006 4:19:33 PM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819
 Here is how I would do this:

Create these two PCFs

On 15ema
H>=XAVGC15 AND L<=XAVGC15

Body as % of Range
100*ABS(C-O)/(H-L+0.00001)

Once you create and calculate the above PCFs, please build the following EasyScan

WatchList (ALL STOCKS)
Price Per Share (limit based on your trading)
Volume 90-day (limit based on your trading)
On 15ema (No limit needed)

The final step is to SORT the resulting WatchList by the Body as % of Range PCF in decending order.
- Craig
Here to Help!
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ewoelbel
Posted : Tuesday, September 26, 2006 4:21:44 PM
Gold Customer Gold Customer

Joined: 3/28/2005
Posts: 39
 Craig - thanks a lot!!!!!!!!! How do I go about sorting by "Body as % of range PCF"
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ewoelbel
Posted : Tuesday, September 26, 2006 4:27:23 PM
Gold Customer Gold Customer

Joined: 3/28/2005
Posts: 39
 Also, Craig - are these formulas for both types of candles? Up as well as down? Thank you.
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Craig_S
Posted : Tuesday, September 26, 2006 4:27:57 PM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819
 Yes... both types.

Here is a video on sorting to review: Create your own stock rankings using WatchLists and Sort conditions
- Craig
Here to Help!
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ewoelbel
Posted : Tuesday, September 26, 2006 4:45:09 PM
Gold Customer Gold Customer

Joined: 3/28/2005
Posts: 39
 Craig - when I do the scan, ony red/black candles appear. Did I do something wrong or do I need to modify something? thank you.
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Craig_S
Posted : Tuesday, September 26, 2006 4:52:25 PM


Worden Trainer

Joined: 10/1/2004
Posts: 18,819
 No green?

There is nothing in the PCF or EasyScan to prevent a green candle.

Try sorting by Price Percent Change Today to see green candles.
- Craig
Here to Help!
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