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Registered User Joined: 4/3/2015 Posts: 8
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So I watched the video on Fib Retracement and I got the formula to work on a Daily chart, but I'm trying to get it to work on an Intraday level. I adjusted the formula for a 5 minute chart to:
(C - MAXH12) / (MAXH12 - MINL12) * 100
To show the last 1 hour (12 bars) and 2 hours (24 bars). For some reason I don't think its working as I want. I set this as my sort in a watchlist as well.
What other information do you need from me to get this to work.
Thank you
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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I'm assuming you are referring to the Fibonacci Retracement Levels video. If so, the formula you have is exactly what I would use for an hour on a 5-minute chart instead of 6 months, 1 year or 3 months on a daily chart.
The 2 hour version would double those values.
(C - MAXH24) / (MAXH24 - MINL24) * 100
Make sure the formula is in fact set to use a 5-minute time frame. If it is set to use another time frame it will cover a different span of time.
Also note that if you edit it a formula after using it (for example as an EasyScan Condition or WatchList Column), those changes will not be reflected unless you remove and re-add the EasyScan Condition or WatchList Column. This is because a copy is being used which is not linked to the original in any way.
-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 I had to redo it... I think I had it set to Daily Timeframe, but when I made the change to 5 Minutes... I don't think I removed and readded it to get it to work.
Let me check and do some tests on it. Thank you. I'll chime back if I need to further refine this a bit.
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Registered User Joined: 8/23/2013 Posts: 245
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Bruce is there a way to interpet this plot to find fib Extension or modify the formula to calculate extension level reached (i.e. 161.8 261.8 etc)
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Registered User Joined: 6/15/2015 Posts: 21
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I need help building a PCF for the following retracement.
I would like a PCF that I can add to an easy scan that would look for stocks that retrace 61.8% on the fobonacci retracement from the close of the previous day to today's high.
I plan on adding a condition in the easy scan to look for stocks that are green on the day only, and have a range of at least .20 on the day, before this scan picks anything up.
Thanks much
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Registered User Joined: 6/15/2015 Posts: 21
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Here's an image of what I am looking for
http://charts.stocktwits.com/production/original_38251141.png?1434342047
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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MoreAces,
You would probably have to describe what you want in more detail in order for me to provide an answer.
daytradingpwr,
The following Condition Fomula would need to use a daily time frame.
H - C >= .618 * (H - C1)
Adding the range requirement would result in the following Condition Formula.
H - C >= .618 * (H - C1) AND H - L >= .2
Being green on the day would depend on if you mean the close is above the previous close.
H - C >= .618 * (H - C1) AND H - L >= .2 AND C > C1
Or if the close is above the open.
H - C >= .618 * (H - C1) AND H - L >= .2 AND C > O
Personal Criteria Formula Syntax
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 6/15/2015 Posts: 21
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Bruce, I love you. Works like magic.
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Registered User Joined: 8/23/2013 Posts: 245
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Bruce from above post June 15h
The following Condition Fomula would need to use a daily time frame. H - C >= .618 * (H - C1)
What would be the formula for the reverse of this (the low downward extension)
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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I suspect you want the following.
C - L >= .618 * (C1 - L)
-Bruce Personal Criteria Formulas TC2000 Support Articles
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