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PCF for 3 Weeks tight pattern Rate this Topic:
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pooran
Posted : Friday, February 21, 2014 1:31:33 PM
Registered User
Joined: 8/31/2005
Posts: 4

Dear sir,

Please help me with the following

 

over a period of 3 weeks

 

weekly closing price is within 1% of its closing price during the preceding week

three tight closes in a row

Weekly trading range is typically narrow

volume shuould be fairly tight

 

 

 

Bruce_L
Posted : Friday, February 21, 2014 8:43:32 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

You can set the time frame of a Condition Formula in TC2000 by adjusting the Time Frame drop-down menu in the Edit Formula window for that Condition Formula when it is created or edited.

If you set the time frame to weekly, the following Condition Formula for check for price being within 1% of the close of the previous week over a total span of 3 weeks:

ABS(C / C1 - 1) <= .01 AND ABS(C1 / C2 - 1) <= .01

If you also want to check if the third bar was within 1% of the close of the previous week, you could add another term.

ABS(C / C1 - 1) <= .01 AND ABS(C1 / C2 - 1) <= .01 AND ABS(C2 / C3 - 1) <= .01

I do not know what is mean by the weekly trading range being "typically narrow" or the volume being "fairly tight".

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