Gold Customer
Joined: 3/6/2005 Posts: 110
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I watched a webinar in which the host went into "My Conditions", clicked on a PCF, which was then added as a column to the watchlist to identify stocks crossing up through a particular set of moving averages( TC2000.4) Is it possible to write PCF's to identify chart patterns that could be used in the same way. I know there is a lot of information in the system to run scans to look for various chart patterns, but I have already run my scan for the ETF's I want and now I want to know if the stocks that comprise the ETF would fit a chart pattern. I am looking for the usual suspects; pennants, flags, head and shoulders tops and bottoms, cup&handle, consolidation rectangles, triangles, double top/bottoms, "V" bottoms. Is there a PCF for each one of these that I could use. Thanks very much.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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There really isn't anything similar for complex pattern recognition. Clicking on an indicator and selecting Create Scan Condition only works for the conditions which are built into the program.
Create Conditions from Your Chart (5:25)
You may wish to review the following for information on pattern recognition in TC2000.
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. The first topic referenced in the post has formulas for candlestick patterns.
The following topic has has Condition Formulas to identify candlestick patterns in TC2000.
Boolean PCFs for Candlestick Patterns
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Gold Customer
Joined: 3/6/2005 Posts: 110
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Thank you Bruce.
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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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