Hello is there a way to build a formula that will notify me when a stock is 2% away from yearly pivots or r1 or s1 etc.? 2% percentage when coming down to the yearly pivot for example or 2% coming up to the yearly pivot or monthly pivot? thansk Z

It is possible to create a Condition Formula for price being within 2% of R4:

ABS(C / ((7 * H1 - 5 * L1 + C1) / 3) - 1) <= .02

Or within 2% of R3:

ABS(C / ((5 * H1 - 4 * L1 + 2 * C1) / 3) - 1) <= .02

Or within 2% of R2:

ABS(C / ((4 * H1 - 2 * L1 + C1) / 3) - 1) <= .02

Or within 2% of R1:

ABS(C / ((2 * H1 - L1 + 2 * C1) / 3) - 1) <= .02

Or within 2% of PP:

ABS(C / ((H1 + L1 + C1) / 3) - 1) <= .02

Or within 2% of S1:

ABS(C / ((2 * L1 - H1 + 2 * C1) / 3) - 1) <= .02

Or within 2% of S2:

ABS(C / ((4 * L1 - 2 * H1 + C1) / 3) - 1) <= .02

Or within 2% of S3:

ABS(C / ((5 * L1 - 4 * H1 + 2 * C1) / 3) - 1) <= .02

Or within 2% of S4:

ABS(C / ((7 * L1 - 5 * H1 + C1) / 3) - 1) <= .02

The time frame used for the Condition Formula (which can be set in the Time Frame drop-down when creating or editing the Condition Formula) will set the time frame used to calculate the pivot points. So if the time frame of the Condition Formula is set to Yearly, than the pivot points will be yearly and if the time frame of the Condition Formula is set to Monthly, then the pivot points will be monthly.

thanks Bruce. How do i install this formula into my charts. 

If you want to plot it on the chart, you can select Add Plot to Chart (the green + in the upper left of the chart in TC2000 version 12.4) and start typing Custom PCF % True Indicator. Select Custom PCF % True Indicator when it gets close enough to the top that you can see it in the list.

Then click on it and select Edit to use the desired formula above an the Boolean Formula in the Custom PCF % True Indicator.

Note that this will create a spike on the chart when the Boolean Formula is true. You would need to have the time frame of the chart set to Yearly to have the spike based on a Yearly Pivot Points.

I was guessing that you were going to create a condition to use in an EasyScan.

Building a Scan with Multiple Conditions
Writing Custom Conditions: The Basics

You can select New | Condition (PCF) Formula from the menus to create a new Condition Formula. You will need to set the Time Frame setting in the Edit PCF window to match the time frame of the desired Pivot Points.

wow sounds complicated. Can i pay you guys to set it up for me so i can just use this indicator on any stock that i choose? 

It really isn't any more difficult to add a Custom PCF % True Indicator to the chart compared to any other indicator where you are changing the defaults.

You just choose Custom PCF % True Indicator when selecting Add Plot to Chart instead of whatever other indicator you might have been contemplating adding.

And when you click on the indicator and select Edit, you copy and paste the fomula into the Boolean Formula window instead of changing one of the other settings.

ok when i am in the PCF % there is a period is that the yearly monthly time frame i use? also do i leave the c>c(not exact) in the box or erese and put in the equation you gave me. Can i put all equations in at once or do i have to do them individually?

Each one of the formulas is its own formula and be put into its own Custom PCF % True Indicator. The formula used completely replaces whatever formula migh be there initially.

The period would be the period of an optional moving average. Since we just want to create a spike on the chart, the period would be left at 1.

The time frame of the Custom PCF % True Indicator is going to be the time frame of the chart itself. There is no way to make the Custom PCF % True Indicator do the calculations for a yearly or monthly pivot point on a daily or intraday chart.

You will need to be on a yearly chart to have the calculations be based on yearly pivot points and on a monthly char to have the calculations be based on monthly pivot points.

Okay great. I was watching the video you sent me and it showed how i could put in a condition for S&P for example and it goes through all the stocks and 29 came up. I want to be able to do that with the conditions you sent me. If i have to do that individually that is ok. I want to be able to put in the 2% formula for yearly pivot and the condition go through the s&p and bring up all the stocks that meet that condition. Is that possible? 

- Select New and choose Condition (PCF) Formula from the menus at the top of TC2000 version 12.4.
- Copy and paste one of the Condition Formulas given above into the big box in the Edit PCF window.
- Use the Time Frame drop-down menu in the Edit PCF window to Yearly.
- Give the Condition Formula a name and select OK.
- Choose Scan in New Window.
- Change the List to Scan to Standard and Poors 500 Component Stocks.
- Select Save Scan to give the new EasyScan a name (blue floppy disk icon in upper right).
- Select the Scan tab to view the results.

This worked awesome. The only problem is it didnt work for R4 and i am  assuming S4 since it didn't work for R4. is that because you don't show R4? 

I'm not sure what you mean by "it didn't work for R4". While S4 and R4 are not part of the built in Pivot Point indicator, the formulas should still work.

This is great. Is there a condition i can add or one in place. For instance i want to add a condition:

passed through the 8 day moving average. If it is 10 i will settle but would really like it to be 8dma

anymore awesome tricks up your sleeves?

Assuming you are interested in price crossing in a particular direction, you can create this condition without creating any formulas at all. Add the moving average to the chart, adjust its setting as desired, change the time frame of the chart to daily and then click on Price History and select Create Scan Condition.

Create Conditions from Your Chart

You would then click on the Condition drop-down menu and select either Crossing Down Moving Average or Crossing Up Moving Average in the Price History vs Moving Average section. Selecting Add to an Existing WatchList or Scan would allow you to add the condition to any EasyScans which are currently visible in your layout.

Now if you were interested price crossing through the 8-day moving average in either direction, you would want to create a Condition Formula:

SGN(C - AVGC8) <> SGN(C1 - AVGC8.1)

You could then add this condition to your EasyScan to check for it being true in addition to any other EasyScan Conditions. You would want to make sure the time frame was set to Daily for this condition in the Edit tab of the EasyScan if you want to check for price crossing through its 8 day moving average.

This is getting better and better. Is there a way to add to the column to the watchlist that actually indicates what the price of the yearly pivot is for the stock?

it would be great if i could add a column that had the week pivot point and monthly pivot point to the watchlist too

The formulas for the values of the pivots are imbedded in the formulas which check if price is currently within 2% of those pivots.

R4 is:

(7 * H1 - 5 * L1 + C1) / 3

R3 is:

(5 * H1 - 4 * L1 + 2 * C1) / 3

R2 is:

(4 * H1 - 2 * L1 + C1) / 3

R1 is:

(2 * H1 - L1 + 2 * C1) / 3

PP is:

(H1 + L1 + C1) / 3

S1 is:

(2 * L1 - H1 + 2 * C1) / 3

S2 is:

(4 * L1 - 2 * H1 + C1) / 3

S3:

(5 * L1 - 4 * H1 + 2 * C1) / 3

S4 is:

(7 * L1 - 5 * H1 + C1) / 3

- Select New and choose Indicator (PCF) Formula from the menus at the top of TC2000 version 12.4.
- Copy and paste one of the Indicator Formulas given above into the big box in the Edit PCF window.
- Use the Time Frame drop-down menu in the Edit PCF window to Weekly (or Monthly).
- Give the Indicator Formula a name and select OK.
- Choose Scan in New Window.
- Select Add Column in the WatchList to which you wish to use the Indicator Formula as a WatchList Column.

You can right-click on the WatchList Column Header (the name of the WatchList Column at the top of the WatchList) and select Edit Columns to bring up a window where you can change the Time Frame of that WatchList Column.

this has been great. Thank you so much. Do you know when the new Monthly pivots get updated in TC and the weekly pivots get updated in TC? Thanks 

The new pivot points get plotted when there is a new bar for the time frame upon which the pivot points are based.

So if the pivot points are based on daily data, a new pivot point would be calculated whenever a new daily bar starts forming (at the beginning of the trading day).

And if the pivot points are based on weekly data, a new pivot point would be calculated whenever a new weekly bar starts forming (so at the beginning of the first trading day of the calender week - usually each Monday).

And if the pivot points are based on monthly data, a new pivot point would be calculated whenever a new monthly bar starts forming (so the first trading day of a new calendar month).

Thanks Bruce, 

Have you ever seen charttreker app for the ipad? you can put the chart on daily and then it will line up all the pivots in different colors (monthly, yearly and even weekly if you want) but the line will not go all the way through the chart. Just wondering if there is anyway to set up telechart that way? It makes it so much easier to see all the information on one chart. 

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There is not a way to do that currently in TC2000. Thank you for your suggestion. I have submitted it to development for consideration to be included in a future version of TC2000.

thanks 

Bruce is there a way to put into a column on my watchlist the earnings day for the stock? thanks 

You can select the Add Column icon (orange circle with a + in it at the top of the WatchList) to add a WatchList Column to a WatchList. If you start typing Earnings in the search box it will bring up a list of WatchList Columns with earnings as part of the name.

There is no "earnings for the day" available. The earnings related fundamentals which could be added as WatchList Columns include Earnings 1-Yr, Earnings as Percent of Sales 1-Yr, Earnings Growth Rate 5-Yr, High Price Divided by Earnings Ratio and Low Price Divided by Earnings Ratio.

You may be thinking of there possibly being a WatchList Column which would have a check mark for companies announcing their earnings today or the date of the next scheduled earnings announcement for that company. This is not available either.

You can select Notes & News | More Feed Options | Corporate Calendar to get a list of upcoming earnings and other events.

Okay i was trying to keep from having to do the research of when a companies earnings report date was. I am having trouble making chart screen spread more. I use the arrows on top and bottom but a lot of times i need it spread more. Is there a way to spread it more. pivot lines so close to each other. thanks 

Dragging the top arrow all the way to the top of the pane and the bottom arrow all the way to the bottom of the pane is generally going to zoom in on the vertical range as much possible while still plotting all of the indicators in the scale.

Adjust Forecast Space on the Chart

One possibility is that you have calculate scale from price only unchecked. If this is the case, TC2000 will set the scale in such a way that you can see all of the indicators in the Price History scale even if they would otherwise be plotted off the chart (for example a 200-period moving average might plot well above or well below price itself).

You can click on Price History and select Edit to adjust this setting.

Price Scale Only

If you have multiple panes on the chart, you can adjust the size of the other panes to increase the size of the Price History pane.

The only other option which comes to mind would be to use Fixed scaling for your charts. You can adjust the Fixed scaling by hovering your mouse over the red % displayed at the bottom of the price scale to use the scroll wheel on your mouse to increase or decrease the percentage.

Scaling

The main problem with this is that the appropriate percentage to use for the Fixed scaling is going to vary dramatically from symbol to symbol. This means you will probably have to fiddle around with the scaling a lot if you decided to try this.

Bruce you have been a great help. what formula can i put in my watchlist to show me stocks that trade a  million + volume a day?

You could check for the volume of the current bar being at least 1,000,000 shares by using the following Condition Formula:

V >= 1000000

If you want to check for the average volume over the 20-bars ending 1-bar ago being at least 1,000,000 shares, you could use:

AVGV20.1 >= 1000000

If you wanted to make sure that the 5 most recent bar ending 1 bar ago each had a minimum volume of 1,000,000 shares, you could use:

MINL5.1 >= 1000000

so avgb20.1 is the average volume over the past 20 trading days ?

AVGV20.1 is the average volume over the past 20 trading days if the time frame of the formula is set to daily

Bruce hope u are doing well!

I have 2 questions. 

1. can i set alerts on tc on my computer and the alarms will go off on my tc app. on my cell phone? The phone app seems to be lacking

2. can i set up a formula in my tc that will show me stocks that are potentially forming a cup and handle pattern or possibly a cup pattern? 

Thanks Bruce

Alerts are not built into TC2000 for Mobile Phones. You would need to set up the alert in the full desktop version of TC2000 with notifications set up to email you an alert.

You would then need to monitor these emails on your mobile phone in some fashion. This could be by setting up something on the phone to let you know you have received an alert notification email from us. If your phone can receive text or SMS via email, you could have TC2000 use that email address instead.

I do not know of any really good techniques for identify potential or confirmed cup and handle patterns in TC2000. Most of the formulas for complex patterns (as in not well defined candlestick patterns) only narrow down your prospects and do not definitively identify a particular pattern.:

Falling wedge
Cup with a handle formation
PCF for cup with a handle
Scanning for Chart Patterns
Scanning for Stocks Printing a Double or Triple Bottom
PCFs for pennants and flags
PCF's for Triangles
Does TeleChart support Elliott Wave indicators?
Double top/bottom trend
Finding Double Tops and Double Bottoms
CUP AND HANDLE AGAIN
Finding Continuation Triangles And Wedges With Telechart
Cup & Handle PCF
Double tops and bottoms
Flag wedge and pennant pcf
05/01/2012 Webinar: Trading the Flag and Pennant Patterns
Head and shoulders
TC 2000 Bull flags, Bear Flags
PCF for rounded bottom trading

That said, I personally do not think complex pattern recognition is practical in TC2000 using formulas and Scans.

They are at the very least beyond my abilities to help you create without a specific unambiguous objective definition of what you are attempting to identify. It can't be an I know it when I see it type of definition or be based entirely on an image.

This is true of pattern recognition in general with the exception of fixed size candlestick patterns, which are fairly straightforward as long as the pattern is well defined:

Boolean PCFs for Candlestick Patterns

thanks Bruce for your help. 

let me ask you  Bruce. I am not as greedy as others :) 

Can you create a similiar formula like u did with the cup with handle formula above except i don't need the handle. 

The pattern i would be satisified with is the semi circle (or somewhat close to a semi circle). This will narrow down my search and allow me to keep a list of stocks that could potentially form a handle. 

would this be an easier pattern to produce a condition that i can scan?

THis way i can scan stocks with semi circle patterns and then keep an eye on them and see if they will form a handle. Thanks for your help. Zac

The last topic in most recent post is probably as close as you are going to get to what you want that has been posted in the forums so far.

PCF for rounded bottom trading

If you want to refine the technique or have other ideas on how you would identify such a pattern, it would be best to post in that topic instead of this one.

Hey Bruce i am lots of alerts from TC at 9pm mountain standard time. Are the alerts also for the over night market? I don't want the alerts for over night market. How do i fix that? thanks Z

I do not know why you would have received a bunch of alerts at the same time while the market is closed. You may want to contact technical support.