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Worden Discussion Forum » Customer Training & Support » PCFs, EasyScan and Custom Indicators » Request Double Bottom Formula

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sonic335
Posted : Friday, July 21, 2017 5:25:32 PM
Registered User
Joined: 4/19/2009
Posts: 6

Hello,

Does anyone have a double bottom formula that is accurrate?  Can be daily, hourly, etc.

Thank you!

Michae;
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Al_Gorithm
Posted : Friday, July 21, 2017 5:30:54 PM

Registered User
Joined: 6/30/2017
Posts: 1,227

Think you just missed Bruce for the weekend. I did a qucik search on double bottom and here's what Bruce had to say about a month ago. Hope this helps.

QUOTE (Bruce_L)

I don't think I've see what I consider to be a particularly good technique for automatically identifying double bottom or double top patterns in TC2000.

You may wish to review the following for information on pattern recognition in TC2000 (focusing on double/triple top and bottom topics).

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

Source: http://forums.worden.com/default.aspx?g=postmessage&t=67029&f=26&q=281139
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