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Worden Discussion Forum » Customer Training & Support » PCFs, EasyScan and Custom Indicators » Setting up price channel

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jaxricane
Posted : Friday, June 6, 2008 11:04:42 AM
Registered User
Joined: 11/13/2007
Posts: 15
 i want to add a top indicator ( price channel ) using a 10 period ( day ) top, bottom average to telechart plat......assistance please

i see under custom indicator a line that says price channel, but, i can not get it to come up on the chart.


thanks

jax
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Craig_S
Posted : Friday, June 6, 2008 11:06:06 AM


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Joined: 10/1/2004
Posts: 18,819
 I am not sure what you mean by a top and bottom average.  Could you elaborate?
- Craig
Here to Help!
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jaxricane
Posted : Friday, June 6, 2008 11:18:51 AM
Registered User
Joined: 11/13/2007
Posts: 15
QUOTE (Craig_S)
I am not sure what you mean by a top and bottom average.  Could you elaborate?



sorry Craig...basically similiar to a donchian channel... 10 period price channel...in prophet charts they call it a price channel, but, looks just like donchian
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Bruce_L
Posted : Friday, June 6, 2008 12:40:14 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138
 jaxricane,
Please try the following to create 10-Period Donchian Channels:

Select Chart Template | Add Indicator | Indicator.
- Visible: Checked
- Center Zero Line: Unchceked
- Plot using price scale: Checked
- Smoothing Average: 1
- Average Type: Doesn't matter (because the Smoothing Average is 1)
- Indicator Formula: MAXH10.1

Select Chart Template | Add Indicator | Indicator.
- Visible: Checked
- Center Zero Line: Unchceked
- Plot using price scale: Checked
- Smoothing Average: 1
- Average Type: Doesn't matter (because the Smoothing Average is 1)
- Indicator Formula: MINL10.1

I'm not sure that's what would actually be intended by a 10-Period Price Channel however if the original has an Average Period.

You may wish to review the following:

Plotting Custom Indicators with Examples
Donchian channels
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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