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 Use PCFs and EasyScan to find Bullish Engulfing Candlesticks Topic Rating:
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Craig_S
 Posted : Thursday, December 16, 2004 3:41:28 PM

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Keywords: Bullish engulf engulfing candle candlestick easyscan persona criteria formula formulas PCF PCFs

If you would like to view the video offline, click here and select the Save option.

- Craig
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To view this video you must have Macromedia Flash Player and Microsoft Internet Explorer 5+
Craig_S
 Posted : Thursday, December 16, 2004 3:58:40 PM

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Here is a link to the Hammer video which gives the Body/Shadow PCF.

Scanning for Hammers with Candlestick PCFs

ABS(C - O) / (H - L) * 100

Body Center as % of Shadow
(((C + O) / 2) - L) / (H - L) * 100

- Craig
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Craig_S
 Posted : Friday, December 17, 2004 12:06:16 AM

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Here are the PCFs from the video:

Close as % of Open Yesterday
(C / O1) * 100
Open as % of Close
(O / C) * 100
Open as % of Close Yesterday
(O / C1) * 100
Open Yest as % of Close Yest
(O1 / C1) * 100

- Craig
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 Posted : Saturday, February 5, 2005 2:30:03 PM
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Posts: 9
Craig,

I set this up and it looks like it is working for me. I also watched the video you did on Visually Backtesting Specific Symbols and was trying to set that up for the Bullish Engulfing. I plugged the formulas )using and between them all)into a percent true indicator, but nothing is showing up. Can you direct me to what I may be doing wrong? Thank you.
Bruce_L
 Posted : Saturday, February 5, 2005 3:18:27 PM

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The formulas listed above, and used in the video, are written to return a range of values to allow them to be usefully used in sorts as well. A formula must be Boolean (True/False) to utilize the technique demonstrated in the Visually Backtesting Specific Symbols video. I think the following formula should do what you want:

C>O AND C1<O1 AND O<C1 AND C>O1 AND C<C5

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
 Posted : Saturday, February 5, 2005 7:17:27 PM
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Posts: 9
Thank you.
djsmith88
 Posted : Saturday, February 12, 2005 12:23:49 PM
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Posts: 2
Craig S, thanks for the great video.
I noticed in your version, you have a EasyScan 'add new condition' for a lot of pre-coded Candles (like Candle body as % of open).
My TC2000 is 5 months old (5.3.00134), and does not have those.
Is this new in a more current release, or is that specific to TCNet only, and not in TC2000?

thanks, David
Craig_S
 Posted : Saturday, February 12, 2005 12:48:18 PM

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All of the candle PCFs you see are created by me. You will find other candle videos in this forum that use them. Under each video you will see a list of the PCfs used.

I am very happy you enjoyed the video!

- Craig
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akramkhan
 Posted : Friday, March 4, 2005 10:31:50 PM
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Joined: 2/24/2005
Posts: 2
I have tried following the video multiple times to create the Easy scan but when I try to put the 2nd PFC into easy scan the program freezes. Can you please help me set up?

A. Khan
Doug_H
 Posted : Friday, March 4, 2005 11:39:39 PM

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If by "freezes", you mean that the program locks up your computer, and you have to reboot, you are experiencing a technical problem that we are unable to handle here in the discussion forums. These types of technical issues should be addressed to our technical support department via email at support@worden.com or by telephone at (919)408-0542. Hours M-F 9AM-9PM and Saturday from 9AM-3PM.

If you mean something else by "freezes", if you could clarify, maybe we can help you here.

- Doug
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639649
 Posted : Wednesday, March 23, 2005 8:54:16 AM
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Posts: 74
Hi Craig, I just watched your great video on Bullish Engulfing Patterns and now have it working fine on my computer. Please give me the values I will need to use on the 4 PCF's to set up A Bearish Engulfing Pattern. BTW Bigelow's book Candlestick Trading got the Bullish Engulfing pattern wrong on page 159. Yours works.Thanks, Bill Benson
Craig_S
 Posted : Wednesday, March 23, 2005 9:01:35 AM

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Hey Mr. Benson!

I'm glad you like the video.

I would like you to try a little exercise for me. Draw a bearish engulfing pattern on a piece of paper and label each element (C,C1,O,O1) for me.

Take your illustration and look at what each PCF measures and returns. What values would you need the PCFs to return in order to fit your illustration?

Close as % of Open Yesterday
(C / O1) * 100

Returns the value of the close as a percent of the value of the open yesterday.

Open as % of Close
(O / C) * 100

Returns the value of the open as a percent of the value of the close.

Open as % of Close Yesterday
(O / C1) * 100

Returns the value of the open as a percent of the value of the close yesterday.

Open Yest as % of Close Yest
(O1 / C1) * 100

Returns the value of the open yesterday as a percent of the value of the close yesterday.

Let me know what you come up with.

- Craig
Here to Help!
Doug_H
 Posted : Wednesday, March 23, 2005 9:09:24 AM

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Bill:

I was getting ready to answer your question, and in order to do so (so I wouldn't get confused), without knowing how Craig was going to respond, I did exactly what he suggested you do...draw a picture of a bearish engulfing pattern and label it. When I did that, it became easy to see what values you need for each of the PCF's.

Remember that Craig's video mentioned that a bullish engulfing pattern happens in a down trend. A bearish engulfing pattern is identified with a stock that has been in an uptrend.

Since Craig asked you to try the exercise, I won't sneak you the answers just yet!

- Doug
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639649
 Posted : Wednesday, March 23, 2005 10:05:25 AM
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Thanks Craig and Doug, I'll work on this after the close of the mkt and let you know. Bill
639649
 Posted : Wednesday, March 23, 2005 3:26:27 PM
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Posts: 74
Here is what I came up with for Bearish Engulfing Candle. Please correct my errors before I attempt to set an Easy Scan.
Close as %of open yest.
-.0001 to Min
Open as % of Close Yest.
+.0001 to Max
Open Yest.as %of Close Yest.
-.0001 to Min
Open as %of Close
+.0001 to Max

Thanks, Bill Benson
Craig_S
 Posted : Wednesday, March 23, 2005 3:28:11 PM

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Very nice work, Mr. Benson. You are just a bit off because the values of the ratio are multiplied by 100. For the negative values you list, you want values below 100. For the positive values you list, you want values above 100.

Doug and I better be careful... pretty soon you won't need us anymore.

- Craig
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639649
 Posted : Wednesday, March 23, 2005 3:37:31 PM
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Well, don't dare mention what great trainers you guys are. It did help me to scratch my head learning this. Many thanks,Bill
Craig_S
 Posted : Wednesday, March 23, 2005 3:39:04 PM

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- Craig
Here to Help!
639649
 Posted : Wednesday, March 23, 2005 3:54:07 PM
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Joined: 12/11/2004
Posts: 74
Hi Craig, I cannot get the edit value to go to -.001 to Min. which was my first try on Close as a % of open yest. Please help. Thanks, Bill B.
Doug_H
 Posted : Wednesday, March 23, 2005 4:02:58 PM

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If your PCF's are doing the multiplying by 100, here is what I believe you should be looking for:

(C/O1)*100 Values below 100

(O/C1)*100 Values above 100

(O1/C1)*100 Values below 100

(O/C)*100 Values above 100

- Doug
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Goldengate
 Posted : Thursday, March 24, 2005 9:48:33 AM
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I have listened to the video several times. I put the personal criteria into my system just like the video says, and I don't get ANY bullish engulfing candles. What am I doing wrong?
Craig_S
 Posted : Thursday, March 24, 2005 9:56:43 AM

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Are you putting the PCFs in, calculating them, adding them to an EasyScan and limiting them as the video describes? Are doing the limits based on VALUE (vs. ranks)?

Are you looking at a daily chart?

How many stocks is the EasyScan finding? Can you list the exact condition and limits you are using for us here? What are some example tickers it is finding that are not the pattern?

We will get this figured out for you.

- Craig
Here to Help!
Goldengate
 Posted : Saturday, March 26, 2005 1:03:47 AM
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I listened to the video again; realized I didn't have the PCF's properly entered;started over and it's working perfect. Thanks for being so CLEAR in your video teaching. You guys are GREAT!!!
Craig_S
 Posted : Saturday, March 26, 2005 9:38:00 AM

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*blushes*

- Craig
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franka
 Posted : Friday, April 29, 2005 10:50:48 PM
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awesome display on bullish engulfing candles. thanks
Craig_S
 Posted : Saturday, April 30, 2005 9:27:06 AM

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- Craig
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mark6561
 Posted : Friday, June 17, 2005 5:37:38 PM
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Here are the 5 Day per Bar Bullish Engulfing PCFs for the longer term traders.

5D-Close as % of Open Yesterday
(C / O9) * 100 (Value > 100)
5D-Open as % of Close
(O4/ C) * 100 (Value < 100)
5D-Open as % of Close Yesterday
(O4/ C5) * 100 (Value < 100)
5D-Open Yest as % of Close Yest
(O9/ C5) * 100 (Value > 100)

Consider an easy scan: Price Percent Change 1 Month (Value < 0)
ratiger
 Posted : Friday, July 29, 2005 2:07:01 PM
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Joined: 7/26/2005
Posts: 1
Hi guys,

I have set up the Bullish Engulfing patent in the Easy Scan.
Very surprising, all the stocks I get had Bullish Engulfing Candles 2 days ago I can’t figure out way. Can you help me to update the search to the day?
Thank you
Craig_S
 Posted : Friday, July 29, 2005 3:50:19 PM

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Watch this video on PCFs and be sure they are calculated.

How to create a Personal Criteria Forumula (PCF)

- Craig
Here to Help!
clifpa
 Posted : Monday, September 26, 2005 8:13:36 PM
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Joined: 9/25/2005
Posts: 49
Here are the PCFs from the video:

Close as % of Open Yesterday
(C / O1) * 100
Open as % of Close
(O / C) * 100
Open as % of Close Yesterday
(O / C1) * 100
Open Yest as % of Close Yest
(O1 / C1) * 100

Craig, I followed the video, entered the above parameters, calculated, created a new EasyScan, used the Russell 3000.

1) the problem that I'm having. When I get the scale, for example the "Close as % of Open Yesterday", I select VALUE and when I go to drag up the scale to > 100 mine looks nothing like your scale, mine shows completly different numbers. Shouldn't they be the same? Also my results are questionable.

2) I entered the PCF's for Hangman or Hammers and when I cycle through the results the hangman/hammer shows up a couple of days before the last day. Is there code I can use to correct this?

Should I call for a walk-through?

Cliff
Doug_H
 Posted : Tuesday, September 27, 2005 9:54:18 AM

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For your second issue, it sounds like your PCF's are not updated through your latest downloaded data. Click on the fx button, then click on the little hammer icon. Make sure it is set to update for All Items in System, and then click Update All Criteria. I think that will solve the problem you're having.

- Doug
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clifpa
 Posted : Tuesday, September 27, 2005 11:12:48 AM
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Posts: 49

For your second issue, it sounds like your PCF's are not updated through your latest downloaded data. Click on the fx button, then click on the little hammer icon. Make sure it is set to update for All Items in System, and then click Update All Criteria. I think that will solve the problem you're having.

Thanks,

I have re-did the the Bullish Engulfing PCF's and actually I'm getting better results.

My "Close as % of Open Yesterday" PCF, which might be my problem, does not allow me to select a Value > 100 since when I try to move the scale above 98.9999? the very next reading is 1025? Craig gets 100.0479? That is a big difference and probably why I'm getting so many results that are not engulfing?

Would a telephone walk-through be a better plan?
Craig_S
 Posted : Tuesday, September 27, 2005 2:31:18 PM

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Double check the formula you entered for the PCF. Be sure it is:

(C / O1) * 100

(note that is the letter "O" in O1 not a zero.)

Once you edit and correct the formula you should be set.

- Craig
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clifpa
 Posted : Tuesday, September 27, 2005 5:05:34 PM
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Double check the formula you entered for the PCF. Be sure it is:

(C / O1) * 100

(note that is the letter O1 not a zero.)

Once you edit and correct the formula you should be set.
-----------------------------------------

You got it! Works just fine now. I checked that 3 times and still thought it was an 'O'?

Thanks Craig, Cliff
Craig_S
 Posted : Tuesday, September 27, 2005 5:09:04 PM

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My pleasure.

In long hand:

The close today divided by the open 1-day ago times one-hundred.

- Craig
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clifpa
 Posted : Tuesday, September 27, 2005 5:49:57 PM
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Posts: 49
Craig,

I'm working on trying to create a scan for a Harami and I would like it to be at the top of an uptrend. Yesterday a large body and today a much smaller body.

I can get the small body but am having some difficulty in keeping it within the O1 and C1?

Is there a help file that covers the PCF and the scale?

Again, Thanks.
Craig_S
 Posted : Tuesday, September 27, 2005 6:10:37 PM

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The only difference between an engulfer and a harami us the whole candle must be within the previous body. The stickler is that the yesterday's candle can be and up or down candle so the close may be at the top or the open may be.

We only need to compare two points. The high of today to the top of the body yesterday:

Top Body Yest as % of High
(((C1 > O1) * C1) + ((C1 <= O1) * O1)) * ( - 100) / H

This will return the whichever is higher, the close or the open yesterday as a percent of the high. You want the high to be a lesser value so set this to values greater than 100.

The low of today must be greater than the bottom of the body yesterday. This formula uses the same idea as the one above:

Bottom Body Yest as % of Low
(((C1 < O1) * C1) + ((C1 >= O1) * O1)) * ( - 100) / L

This will return whichever is lower, the close or the open yesterday as a percent of the low. You want the low to be a greater value so set this to values less than 100.

Make sense?

Try it and let me know what you think. You can include 100 in both ranges above. You will get more hits this way.

- Craig
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clifpa
 Posted : Wednesday, September 28, 2005 9:12:15 AM
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Craig, I get the following error on the first test; Market days needed to calculate criterion 2

H/((C1>O1)*C1)+((C1<O1)*O1)*(-100)

Best, Cliff
Craig_S
 Posted : Wednesday, September 28, 2005 10:06:09 AM

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I edited my post and made some big changes to avoid dividing by zero. Try it now.

- Craig
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Craig_S
 Posted : Wednesday, September 28, 2005 10:16:17 AM

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Be sure to sort the resulting WatchList by Price Percent Change 1-month in descending order so you see the stocks in a 1-month uptrend first.

- Craig
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