| Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User
Joined: 3/18/2011
Posts: 12
|
what formula do I use to scan for stocks that are consolidating right underneath the 20 Moving average on the 5 minuter time frame?
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
What are your particular unambiguous objective definitions of "consolidating" and "right underneath"?
For the stock to be consoliditating, does it need to remain within a certain percent range? If so, what percentage and for how long? Do you mean something else?
To be right underneath the Moving Average, does it need to be within a certain percentage of the Moving Average Average? If so, what percentage and for how long? Do you mean something else?
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
Registered User
Joined: 3/18/2011
Posts: 12
|
I would like for the stock to be consolidating underneath the MA but not to far underneath it for about 15 munites on the 5 minute time frame. I don't know how to caculate percent range, am still new to trading
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
We are attempting to identify your requirements using a computer algorithm. A subjective definition where you know it when you see it is not enough. The first step in doing so is to objectively define the criteria.
We can't just skip to step two. You can't tell a computer it needs to be near (or not too far). It has no idea what you see as near or far. For that matter, neither do I. Your idea of near is going to be different than somebody else's idea of near.
15-Minutes would be three 5-Minute Bars. If we defined consolidating as the price not drifting more than 1% during those three bars, we would get:
MAXH3 / MINL3 <= 1.01
If we defined right underneath as price being within 1% of the Moving Average while still being below the Moving Average for those same Bars we would get:
L <= .99 * AVGC20 AND H < AVGC20 AND L1 <= .99 * AVGC20.1 AND H1 < AVGC20.1 AND L2 <= .99 * AVGC20.2 AND H2 < AVGC20.2
There is nothing magical about 1%. I just used it as an example. But you need a specific objective definition to use a computer to to be able to find something meeting your definition.
Evaluating "Closeness" in PCF's - relative to Equity &/or Risk
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
Registered User
Joined: 3/18/2011
Posts: 12
|
Is there a way I can copy and paste the formula to the the scanner. For some reason it don't want to copy and paste
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
You should be able to copy from TC2000 version 12 by highlighting what you want to copy and selecting ctrl-c. You should be able to paste into TC2000 version 12 by selecting ctrl-v.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
|
Guest-1 |