| farr_west |
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Gold User, Member, TeleChart
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| Wednesday, February 2, 2005 |
| Sunday, October 11, 2009 1:23:23 PM |
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"I see" said the blind man. I tried a couple of things.
1. I looked at what was some of the other criteria that accompanied the "visual convergence" of my 3 DPO indicators and have setup (still tweaking it) an Easy Scan that attempts to find opportunities this way. Would love to hear others thoughts.
2. Since I am looking for some sort of a "go-nogo" gauge. I came up with the following PCF:
ABS(C - XAVGC15.8) > ABS(C - XAVGC30.16 * 0.95) OR ABS(C - XAVGC15.8) < ABS(C - XAVGC30.16 * 1.05) AND ABS(C - XAVGC15.8) > ABS(C - XAVGC100.51 * 0.95) OR ABS(C - XAVGC15.8) < ABS(C - XAVGC100.51 * 1.05)
I am still playing with the parameters, but I am encouraged because I only look at stocks that return a True result. Then I can take the PCF Bustermu provided and rank them. I'd like to hear any feedback on this approach.
Thanks,
Farr West
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Craig, Jim, & Diceman,
I appreciate your help. I just checked and found that I have the center line box checked. I tried checking the 'plot using price scale' block and it completely disappeared off the screen. I tried multiplying by a factor, but to no avail.
So what you are telling me is that I am looking at am optical illusion and therefore there is no way to write a PCF that shows me this 'visual' convergence I see on the screen. That I will just have to manually look for charts that have these three indicators, in one window, visually converging, which happens when the stock is moving up...bummer
I don't understand this 3 different scales thing. I see a single scale onscreen (right side), that is typically between -1.00 and 1.00. Is that a percentage? Why is not it all relative? or is it?
Thanks for help,
Paul "Farr West"
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Diceman,
You are talking about changing my formula.
I want the formula to stay the same, except for the "15.8" portion. It could be 24.13, 33.17, 45.23, etc. Anything that user wants to plug in. I could not figure it out and was hoping a trainer could.
In essence, I need to know if there is a way to program something like this:
C-AVGC15.8 is equal to or within 5% of C-AVGC24.13 which is equal to or within 5% of C-AVGC45.23
On the chart this will look 3 line indicators all coming to a single point, or close to.
Any ideas? Steve? Doug?
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Diceman,
I tried that and it unfortunately it does not do what I am trying to do. I had one stock with a small number that was not convergent and another with a number 3X as big that is convergent. I am looking for a boolean "TRUE" result that I can use in an easy scan. On my chart, I have 3 DPOs (in one window) and often when they are postively converging/convergent, I have a very good buying opportunity. Any other ideas?
Farr West
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Last year Doug and Steve helped me learn how to create a custom indicator for Detrended Price Oscillator (DPO). Now I would like to know how to create a PCF that I can use in an easy scan. I would like to take the formula C - AVGC15.8 and 2 other time periods of the same formula and determine if they are converging or close to converging.
I have this set-up on a custom indicator, but I would avoid looking through all the charts to find the ones that are converging or close to converging.
Can you help?
Thanks,
Farr West
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Doug recommended that I seek guidence from my fellow users. Anybody out there used this? If so, what setting did you find most helpful for short-term trades and why? Thanks,
Farr West
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Thanks Craig and Doug. Now this makes sense. However, it does bring another question: Is there a way to determine which parameters are best to plug in. In other words, why would I choose 6 over 15 or 20 over 30, or vice versa. I am looking more at short-term trades, rather than long-term trades.
Regards,
Farr West
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Doug,
Are you saying that "C-AVGC15.8" will do what that more complex formula I posted will do?
Farr West
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My brother sent this to me. Can you help me put this into custom indicator?
Calculation:
The first step is to determine the appropriate timeframe for analysis. One-half of this time
period should be used as the look back period [n] for the SMA window. Next, calculate a SMA of
closing prices for an n-period look back window. The third step is to determine the number
of periods (e.g., days) to shift the SMA back in time, using equation [1]:
[1] p = INT [ (n / 2) + 1]
where:
INT is the integer function;
p is the number of periods to shift the SMA back in time, and the remaining term was defined above.
If the calculation [(n / 2) + 1] results in a non-integer value, the fractional part is dropped and
the integer number is used. The final step is to calculate the difference between the current
closing price and the SMA, using equation [2]:
[2] DPO = Ct - SMA[n]t-p (for n periods)
where:
DPO is the Detrended Price Oscillator;
Ct is the closing price at time t; and,
SMA[n]t-p is the simple moving average for n periods shifted back p periods in time.
Thanks,
Farr West
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