Registered User
Joined: 10/7/2004
Posts: 24
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I would like to create a pcf that tells me that macd is Low but at least X percent above the low in the recent x time frame (I would also like to try this with TSV and RSI). what I am looking to do is scan for divergences. This is the scan i would like to do...new price low in the last several months yet macd diverging and has already come off low. Can you help me figure out how this scan might look?
Thanks for you help!
Mike
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I could be misunderstanding, but what you are describing sounds a bit like a Stochastic of the function of interest. You could find out where Simple TSV18 is in relation to its range over the last three months using the following Personal Criteria Formula:
100 * (TSV18 - MIN(TSV18,63)) / ((MAX(TSV18,63) - MIN(TSV18,63))
You could add it to an EasyScan along with a PCF for a New Low for the last 3-Months:
C = MINC63
And restrict the Stochastic of TSV to the desired Range (the 10 to 30 is just an example range, you'll need to figure out what makes sense for you):
-Simple TSV Stochastic: Value: 10 to 30
-New 3-Month Low: True
You may need to review the following for the above to make sense:
Using EasyScan to find stocks that meet your own criteria
How to create a Personal Criteria Forumula (PCF)
Handy PCF example formulas to help you learn the syntax of PCFs!
You could create a similar formula for RSI (the Period can vary):
100 * (RSI14.1 - MIN(RSI14.1,63)) / ((MAX(RSI14.1,63) - MIN(RSI14.1,63))
MACD is more problematic because the PCF Language does not have a built in MACD function and the MIN() and MAX() functions do not work on formulas. You may also be interested in the following:
Using Linear Regression Sorts to Help Spot Divergences
Understanding MACD
Sorting with Stochastics
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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