Registered User
Joined: 2/7/2005
Posts: 19
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I put the formula discussed in Don’s Friday Worden Report
in to my Custom Indicator Settings,
L<((2.95*MINL15.7)-MAXH7.3)/2 AND STOC50.3<10 AND L
and I get an error which states,
The formula does not return a Boolean value for the formula
indicator.
Why am I getting this error?
Thanks.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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You need to put it in a percent true indicator.
You made a custom indicator that expects a value as its
output.
Thanks
diceman
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Registered User
Joined: 2/7/2005
Posts: 19
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Thank you diceman.
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Registered User
Joined: 10/7/2004
Posts: 40
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[QUOTE=diceman]You need to put it in a percent true indicator.
You made a custom indicator that expects a value as its
output.
But where & HOW do you "put it" in a percent true indicator.
Very interested & hopeful for your guidance.
Roger
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Check out this video: Visually Backtesting Specific Symbols
- Craig
Here to Help!
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Registered User
Joined: 3/16/2006
Posts: 2,214
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The Worden Report (Friday, January 4,2008)
Greetings from Sir Rocket Scientist
Sir Rocket Scientist was seated at the Roundtable of Knights Who Think for Themselves on 5 July 2000. He submitted subsequently on 18 April 02, 7 May 02, 28 July 06, and 9 January 07. Let me just say that "you don't have to be a rocket scientist" to enjoy a bottle of Veuve Clicquot Ponsardin every now and then, and we appreciate the humility of this one. -DW
Dear Don:
In the summer of 2004 I got interested in a submission by Sir Oversold (WR 7/15/2004), presenting an indicator that signaled when a stock was oversold, and therefore presumably a good buy. In addition to incorporating his signal into my standard Telechart format, I added my own version of the inverse of his indicator to indicate when a stock is overbought, and therefore presumably not a good buy or hold. I have had these indicators on my charts for over three years now, and have learned that they are among the better signals I have seen. They are unobtrusive, and the highly visible record of their signals for each stock helps you decide whether to pay attention to them in this case, or not. More often than not, you should.
Sir Oversold's indicator is:
L<((2.95*MINL15.7)-MAXH7.3)/2 AND STOC50.3<10 AND L<L1
While mine (for overbought) is:
H>((3.05*MAXH15.7)-MINL7.3)/2 AND H>H1 AND STOC50.3>50 AND TSV3<TSV8
My indicator is basically the inverse of Paul's, with some additions and adjustments to minimize false alarms. I have these indicators in my middle chart panel, with the first one colored green, and the second red. They sit docilely on the bottom axis until one of them wakes up to signal a red or green spike. It's not an absolute command, but it's certainly one of the things I notice and use in "thinking for myself."
The best way to judge them is to put them in and run over your favorite charts to see how they would have done for you. They sure do help me. My thanks to Sir Oversold, and I hope he appreciates that imitation, even the inverse, is the sincerest form of flattery.
Happy New Year to All!
Dick (Sir Rocket Scientist)
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Registered User
Joined: 2/28/2005
Posts: 825
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Dick I setup these 2 spikes as you described above. Herein lies my problem. I try to do a sort to show the green spike today, but the none of the sort functions work as other percent true indicator's I have instilled before.
Could you tell me how I can do a search on a watchlist for a green spike today? When I right click on, and select properties, it doesn't matter what sort method I use, I do not get the results I am looking for. What be my problem? I am NOT smarter than a 5th grader.
TIA
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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alindsley,
When I sort these Custom Percent True Indicators using an Actual Value Indicator Sort, everything with a Value of 100 has a current spike.
Sorting price and indicators by their Actual Value
Can you describe in more detail what steps you are taking and what actually happens when you make the attempt?
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 2/28/2005
Posts: 825
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Ok. My bad. I guess I had ran the scan on several of my watchlists which just did not show any hits.
On a whim before answering you I ran the scan on All Stocks which gave me plenty of 100% hits.
My apologies for wasting your time Bruce, and my grateful thanks for your attempt to help me.
Art
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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alindsley,
I'm happy to read you were able to figure out what was happening.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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