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Registered User
Joined: 12/3/2004
Posts: 32
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(MAXH5 - MINL5) / ((AVGH5 - AVGL5)) * 5 * 50 + .001
Doug,
I have this formula in my PCF, can you eloborate it more, as what this times 5 and times 50 ....
I wanna design, consolidation for different days, hence I wanna know formula details.
Help please.
Tariq
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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(MAXH5 - MINL5) / ((AVGH5 - AVGL5))
The above portion of your formula compares the maximum 5 day trading range with the average 5 day trading range. By itself, stocks with values closer to one are those stocks that are in a tighter consolidation. Typically, this formula would be multiplied by 100, so that values near 100 meant tight consolidation. I have no idea what the purpose of the two multiplications and the addition is. Where did you find the PCF?
- Doug
Teaching Online!
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Registered User
Joined: 12/3/2004
Posts: 32
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Thanks Doug, for explaning this formula. Well, I got this formula from (URL Removed By Moderator), I bought their course, and this was included along with this.
All I wanted to make is tight consolidating range for least a month and breaking out.
Can you help me, Please.
Tariq
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Try creating and updating the following PCF:
MAX Range vs. AVG Range 1 Month
100*((MAXH21.5 - MINL21.5) / ((AVGH21.5 - AVGL21.5)))
Now, add this PCF to an EasyScan, along with the built-in criterion called Price Percent Change 5-Day. Limit the conditions as follows:
MAX Range vs. AVG Range 1 Month: Values near 100 (the closer to 100, the tighter the consolidation)
Price Percent Change 5-Day: Market Rank from 90 to MAX
There is another technique for locating consolidation/breakout demonstrated in the following video. It does not use PCF's. You may want to check it out.
Spotting trend changes using linear regression channel sorts
- Doug
Teaching Online!
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Registered User
Joined: 12/3/2004
Posts: 32
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Very good Video, many ideas are bombarding my mind, after watching this video.
Very informative. Please send me some more like this very informative video links.
Thanks a lot.
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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There are many videos available in the Product and Tutorial Videos Forum. Just scroll through and look at the titles. Happy viewing!
- Doug
Teaching Online!
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