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Registered User Joined: 3/8/2012 Posts: 12
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Hi- First of all, thanks for your great answers on my previous questions. Very helpful. I'm trying to write a PCF for finding stocks with all of the following: (1) Strong uptrend (2) Very recent pullback but not lower than the trend line, and (3) a bullish candlestick pattern. Has anyone already written a successful PCF for this, or can you please show me how to do this? Thanks a lot!
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 Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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You need to start by creating specific unambiguous objective definitions for your terms. I can't do that for you and the definitions can't be subjective "I know it when I see it" type definitions.
You can look at the chart and just sort of see the patterns of interests, but the computer can't.
What is a strong uptrend?
What is a pullback?
What makes it recent?
How is the trendline below which the pullback can't cross constructed?
Which bullish candlestick patterns do you want to use?
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 3/8/2012 Posts: 12
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Hi Bruce- Good point, thanks! I got these criteria from one of the Worden webinars, so these must be very popular. Has anyone already written a PCF for these criteria? Thanks for all your help!
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 Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Which Worden Webinar?
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 3/8/2012 Posts: 12
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Hi Bruce- The Webinar was Targeting the Bottom of a Pullback, on 10/4/2011. Great talk! So I'm looking for PCFs that'll help identify good criteria for an uptrend pullback. Thanks!
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 Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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It had been awhile, so I re-watched the entire webinar from start to finish.
As Julia indicates, it is a big-picture webinar.
Julia doesn't doesn't give objective definitions. She provides subjective "you know it when you see it" type descriptions of what you should be looking for visually. She drew trendlines and fibonacci retracements based on what she saw visually as highs and lows.
And while Julia points you to the forums to find Condition Formulas for Bullish Engulfing, Bullish Piercing, Bullish Morningstar, Bullish Hammer, Bullish Harami and Bullish Kicker candlestick patterns, she also gives numerous examples of "almost" patterns which would not technically meet the definitions but might be close enough when visually looking at the chart.
The Boolean PCFs for Candlestick Patterns topic is probably your best source in the forums for Condition Formulas to identify candlestick patterns.
I really cannot provide Condition Formulas or EasyScans for the rest of the webinar as that would require unambiguous definitions.
So if we want to create something, you would need to come up with the specific definitions you want to use.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 3/8/2012 Posts: 12
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OK, Bruce. This was a very useful conversation, thanks. I'll keep working on my scans. Many thanks.
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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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