Hello again and back to this subject.

As user stochastics wrote above, the plots of those formulas are indeed interesting.

One simple question for now: those formulas use the traditional ob/os levels of 70 and 30. How would I modify those two formulas to use the 80 and 20 levels I prefer to use? Simply substitute 80 for 70 wherever 70 is found in that formula, and likewise 30 for 20 wherever 30 is found in that formula?

Thanks again.

Redeyez

Thanks much Bruce. Your thoughts and examples have given me something to work with as we approach the Thanksgiving holiday week. May you and yours and the Worden community have a blessed Thanksgiving!  :)

My apologies for this tardy reply; I simply had not expected any more activity upon this thread. I was wrong. :)

Redeyez  :)

Sigh ... I hadn't considered that those 20 and 80 lines are not scaled with price, and therefor a scan cannot be written to identify when price itself crosses one of those lines, without dealing with that issue. And, it is beyond me to figure out on my own how to scale those lines to price dynamically. If that is even possible to do within the confines of the pcf macro language. 

Like many before me, I have seen price apparently bounce off of those levels so many times that I had wanted to develop a scan to identify when that happens. Yes, the actual Stoc levels can be scanned for, we have done that for many years on v7 and now on v12. I have seen the Stoc values reach and exceed the levels of those lines and kind of bounce there as price catches up. 

Thanks for your time StockGuy.

Red

I want to know when price itself crosses one of those ob/os levels. With that formula I can develop and test alerts. 

Redeyez

You are of course correct that those levels do not change, StockGuy. 

I was not sufficiently clear. I am not seeking to identify when the study crosses one of those levels. I am seeking to identify when price itself crosses one of those levels. For example, if I can create a pcf which calculates one of those levels, I can extend that pcf into a boolean to yield a positive or negative value depending upon which way the price - os/ob level crossover occurred.

What I do not know is if the formulas for Stochastics -- Fast, Slow or Full -- or the formula for StocRSI, can be rewritten so as to yield the price at a specified ob/os level and so as to be acceptable to the pcf compiler. I did read through some lengthly Stochastics threads in these forums; if someone has already asked this question, I missed it.

TIA.

Redeyez

Hello.  

On TC v12.3 we can have Stochastics also plot the overbought and oversold levels. On 12.3 Wilder's RSI also offers us the same option of having the ob/os levels plotted, as does Worden Stochastics. 

For purposes such as alerts, how can we calculate the current value of those ob/os levels? The idea is to trigger an alert when price crosses one of those levels of course. 

For example for a Stoc12,3 or for a Wilder's RSI or a simple RSI or a StochasticsRSI? 

Many thanks.  :)

Redeyez

Many thanks, Bruce.  :) 

Many thanks, Bruce.  :) 

Having read through this thread, I still have the outstanding question of what formula is used for the DPO as found in v 12.3?  Specifically, for the default DPO21?

I ask for the formula and DPO21 example simply because it is not legal to use DPO21 in a pcf, as for example TSV21 can be used without error.

Thank you.

Redeyez