Registered User
Joined: 3/25/2005
Posts: 3
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I'm trying to create a price channel. I'm trying to create an envelope showing, as the center line, the mid-point of the High and Low of the last 50 periods. Then I'm trying to show 5%, 10%,015%, and -5%, 10%, 15%, etc.
I have an old telechart example but the formula doesn't look right, I've tried it, and it doesn't work. But the "paint" file shows what I'm trying to do. I don't know how to attach it here.
Can I get an assist?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Welcome to the forums. A very good foundation for learning how to use TeleChart can be gained by reviewing the following:
If you are new to TeleChart READ THIS FIRST!
Please try the following:
Select Chart Template | Add Indicator | Price Channel.
- Visible: Checked
- Plot Formula Line: Up to you.
- Smoothing Average: 1
- Average Type: Doesn't matter (because the Smoothing Average is 1)
- Width Multiplier: The % above and below the centerline you wish to Plot the Channel Lines.
- Indicator Line Formula: (MAXH50 + MINL50) / 2
- Channel Width Formula: (MAXH50 + MINL50) / 20
If you want more Channels at more than one percent range away from the Centerline, you need to create more than one Price Channel Indicator (so you would need one for 5%, one for 10% and one for 15%) You may wish to review the following:
PCF Formula Descriptions
The best topic about posting images in the forums of which I'm aware is Inserting A Chart into A Worden post.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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