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Registered User
Joined: 11/8/2004
Posts: 89
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Hello,
In the Jan 4th, 2008 Worden Report Sir Rocket Scientist cites two PCFs which he says he uses in the middle window of a chart. The first, by Sir Oversold, is:
L < ((2.95 * MINL15.7) - MAXH7.3) / 2 AND STOC50.3 < 10 AND L
When I tried to use this as a custom indicator, entering the formula as one does for all custom indicators, I end up with a note on the chart:
Formula(FORMULA ERROR!!!Must not be a boolean formula)1 Period
If this is the case how does one enter the two formulae cited on Jan 4th? Thanks for your help.
/* Phil */
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Registered User
Joined: 11/8/2004
Posts: 89
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Sorry for the unnecessary post, I found the answer in the application of the 'Percent True Indicator'. You may delete this inquiry.as always,/* Phil */
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Registered User
Joined: 11/30/2007
Posts: 17
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As a newcomer to TC, I would like to ask clarification of this same formula. (The issue for me, is the same for either formula - oversold or overbought).
Here's the oversold formula.
L<((2.95*MINL15.7)-MaxH7.3)/2 and H>H1 and STOC50.3>50 and TSV3
I would "translate" this something like
Today's low < 2.95 times minimum of low periodic 15 days as of 7 days ago minus the maximum high of 7-day period as of 3 days ago divided by 2, and today's high greater than yesterday's high, and stochastics 50-day period as of 3 days ago > 50 and TSV 3-day period...
OK, so I know I'm still learning to translate TC symbols into English, and I don't know all of the punctuation, nor all of the indicators etc. So I am sure that I am way, way off in what I'm trying to say. My first problem isn't really whether I got the translation right (or even close).
It is that I get lost on what "logical" TSV3 represents. Even if I'm completely off on all of the rest, my days of programming and logic courses tell me that any function on either side of an "and" must resolve to a logical yes or no, and I can't get through my thick skull how TSV3 all by itself resolves to yes or no, much less how it fits into the picture.
I checked the formula and it did resolve without an error (witness the other post) but if this question were on an SAT (equally incomprehensible to me!) I would have failed.
On top of which, quite frankly, I'd like to understand what this guy's formula is trying to tell us, and I don't have the experience to "get it" - as witnessed by my pidgin rendering.
I find this point very interesting, especially as we appear to be heading into some bearish times, but as a novice, it is more than a bit cryptic to me. I get his message, but I'd like to get his math, too. Can a trainer or anyone else help render both of these puzzlements comprehensible to me?
Thanks
John
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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jfcampbell3,
You may wish to review the answer provided in Overbought Condition.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 1/1/2005
Posts: 2,645
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QUOTE (jfcampbell3) Here's the oversold formula:
L<((2.95*MINL15.7)-MaxH7.3)/2 and H>H1 and STOC50.3>50 and TSV3
John,
Bruce supplied the corrected oversold and overbought formulas as:
L < ((2.95 * MINL15.7) - MAXH7.3) / 2 AND STOC50.3 < 10 AND L < L1
and:
H > ((3.05 * MAXH15.7) - MINL7.3) / 2 AND H > H1 AND STOC50.3 > 50 AND TSV3 < TSV8
respectively. You have a hybrid of the two which should cause difficulty in its interpretation.
If you have difficulty interpreting the correct oversold formula, let us know.
Thanks,
Jim Murphy
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