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Registered User
Joined: 4/13/2009
Posts: 122
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I would like a PFC of the upper BB 12,2 moving up with an angle of what would be about 45 degrees. The price can be either pushing the upper band or above it. Is there a way to write this?
Thanks
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Angle in degrees is an absolutely meaningless concept in charting. The angle will change based on scroll, zoom and even the aspect ratio of the chart.
You can create a Condition for Bollinger Band increasing by clicking on the Bollinger Band and selecting Create Condition | Chan Top - Moving Up Net, Period: 1, Net Change: 0 | Save Condition.
You can create a Condition for Price being "near" or above the Top Bollinger Band by creating a Bollinger Bands %B with the same settings as the Bollinger Band. You will then need to click in the Bollinger %B and select Create Condition | Greater than: 0.95 (you can adjust this value as desired.
You could then use both of these Conditions in the same Scan to find when both are true.
Indicators, Sorting & Scanning
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 4/13/2009
Posts: 122
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Thanks Bruce, I understand...I will play around and see what works best for what I am looking for.
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Registered User
Joined: 3/12/2005
Posts: 7
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Bruce,
I really don't understand your explanation (8/5/11) of creating an fx of the top Bollinger Band.
Would you just give me an algebraic equation I can use for the fx. I'd like to create a scan using the fx of the high or close being more than the top bollinger band (I have bollinger bands displayed in my charts. They are very useful to me.)
So, if possible, I'd like the algegraic equation whereby I can scan all the stocks in the universe of stocks using stocks whose close or high is above the top bollinger band.
I use Telechart 2007, version 6.0.0066
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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If the High is above the Upper Bollinger Band, the has to be above the Upper Bollinger Band as well. A Condition Formula for the High being above the Upper Bollinger Band 12,2 could be written as:
Understanding MACD
H > AVGC12 + 2 * SQR(ABS(C ^ 2 + C1 ^ 2 + C2 ^ 2 + C3 ^ 2 + C4 ^ 2 + C5 ^ 2 + C6 ^ 2 + C7 ^ 2 + C8 ^ 2 + C9 ^ 2 + C10 ^ 2 + C11 ^ 2 - 12 * AVGC12 ^ 2) / 12)
That said, creating a Condition by clicking on Price or an Indicator and selecting Create Condition is almost always going to create a Condition which is more efficient than a Condition Formula in TC2000 version 12. It will calculate more quickly and use less resources than the formula.
In addition, it is usually easier to do so than write a Condition. For example, if you were comparing the Close to an Upper Bollinger Band 12,2 that was also plotted on the chart, you could just click on Price and select Create Condition. You would then click on the Condition drop-down menu and select Price History vs Bollinger Bands 12 2 and choose Above Chan Top.
Comparing the High instead of the Close would just involve adding a 1-Period Simple Moving Average of the High to Price History and then clicking on the Moving Average instead of Price History to create your Condition.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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