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Registered User
Joined: 7/31/2006
Posts: 37
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hi
i am looking for a formula to scan stocks who on a 10 mn charts have their donchian channel turning up .could you help?thanks
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Personal Criteria Formulas and EasyScans always use the twenty-minute delayed Daily data. This means you would need to use Indicator Sorting to do any of the following on 10-Minute Charts.
Sort by indicator or price movement using Visual Change sorts
Sorting price and indicators by their Actual Value
Real time indicator sorting (available at the Platinum level)
Let's say you had 20-Period Donchian Channels using the following formulas:
Upper Band:
MAXH20.1
Lower Band:
MINL20.1
The wouldn't necessarily turn up at the same time. You could find out if the Upper Band was increasing using something like the following:
MAXH20.1 > MAXH20.2
You could even "predict" tomorrow's direction (since Donchian Channels normally use the previous Highs and Lows) using something like:
MAXH20 > MAXH20.1
The Lower band would just require replacing MAXH with MINL. It would also be possibe to calculate a Centerline:
(MAXH20.1 + MINL20.1) / 2
If you did so, the formula for the Centerline increasing would be:
MAXH20.1 + MINL20.1 > MAXH20.2 + MINL20.2
You may wish to review the following:
Plotting Custom Indicators with Examples
Visually Backtesting Specific Symbols
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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Registered User
Joined: 7/31/2006
Posts: 37
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TX, i have mad a pcf for the centerline and sorting on the 10 mn i get aapl true,but the donchian channel seems to be flat. i suppose it will rise if the condition of the pcf remains valid for another 10 mn? is it right?.tx
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You can't make a Personal Criteria Formula to monitor a 10-Minute Chart. You need to use the formula in a Custom Indicator (if it is value based) or Custom Percent True Indicator (if it is Boolean - returns True or False) and use Real Time Indicator Sorts on the Custom Indicator or Custom Percent True Indicator.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 7/31/2006
Posts: 37
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tx
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 7/31/2006
Posts: 37
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sorry but when i try to use the formula as a custom indicator i get the formula error must be boolean.help please tx
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Administration
Joined: 9/30/2004
Posts: 9,187
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You have to choose Add Indicator | Custom | Percent True.
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Registered User
Joined: 7/31/2006
Posts: 37
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got it tx a lot
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