Registered User
Joined: 10/7/2004
Posts: 11
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hi folks, need pcf for a weekly chart in an up trend, with a 3 bar pullback.is this possible? tks wayne
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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It would depend on how you want to objectively define an uptrend. If we define it as positive 10-Period Linear Regression Slope and positive Net Change over the period of the Linear Regression, a Condition Formula for this might look something like the following:
C < C1 AND C1 < C2 AND C2 < C3 AND 9 * (C3 - C12) + 7 * (C4 - C11) + 5 * (C5 - C10) + 3 * (C6 - C9) + C7 > C8 AND C3 > C12
A different set of definitions would require a different formula.
Using Linear Regression vs Classical Peaks/Valleys for Divergence Analysis
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