Registered User Joined: 4/3/2015 Posts: 8
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I can't seem to get my PCF for a Pull back to work:
C > (C + C1 / 2) > (C + C1 + C2 / 3)
Is there a better way to get a short pull back of a trending stock?
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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You need to make each comparison individually and connect them with AND instead of putting the comparisons in a series.
C > C + C1 / 2 AND C + C1 / 2 > C + C1 + C2 / 3
I'm guessing you actually mean the following.
C > (C + C1) / 2 AND (C + C1) / 2) > (C + C1 + C2) / 3
Which could be done with moving averages.
C > AVGC2 AND AVGC2 > AVGC3
Although I'm pretty sure this would only be true if the following is also true.
C > C1 AND C1 > C2
As far as pullbacks go, most requests are usually about price pulling back to some level (such as a moving average) or within a certain range of time. I'm going to go with within a certain range of time definition. Could you describe the features of the type of pullback you are trying to identify?
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 4/3/2015 Posts: 8
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I'm trying to get 3 candle pull back in price with either a 1 minute or 5 minute chart. I was hoping an average of C + C1 / 2 AND C + C1 + C2 / 3 would give a short-term pull back. from the previous close.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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I would think that in a pullback price would be going down. Your formula would seem to require price going up. If you want price going down for the most recent 2 bars you could just use the following (which is the opposite of what your formula boils down to).
C < C1 AND C1 < C2
I would suspect you want more than just that though. If it is a pullback, you probably want it to have been trending up prior to the pullback. The following would check for price to have two bars ago have the highest close over a 10-bar period with a positive linear regression slope over the same period as well.
C < C1 AND C1 < C2 AND C2 > MAXC9.3 AND 9 * (C2 - C11) + 7 * (C3 - C10) + 5 * (C4 - C9) + 3 * (C5 - C8) + C6 > C7
Using Linear Regression vs Classical Peaks/Valleys for Divergence Analysis
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 4/3/2015 Posts: 8
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Yes, I think this works... Let me test today... Thank you.
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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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