| Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User
Joined: 9/6/2005
Posts: 22
|
All,
I am interesting in creating my own 4-day Bearish PCF. Here is what I am looking to do:
1. All candles are bearish.
The 1st bar is the longest of the 6 and has the highest open.
The 2nd bar's open is lower than the 1st by 2%.
The 3rd bar's open is lower than the 2nd by 1.5%.
THe 4th bar's open is lower than the 3rd by 1%.
Is this possible in TC2007? If so can I change the percentage to the actual change (points) of a stock? What other parameters would I need to consider before I write this?
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
QUOTE (sukhtejs) I am interesting in creating my own 4-day Bearish PCF. Here is what I am looking to do:
1. All candles are bearish.
The 1st bar is the longest of the 6 and has the highest open.
The 2nd bar's open is lower than the 1st by 2%.
The 3rd bar's open is lower than the 2nd by 1.5%.
THe 4th bar's open is lower than the 3rd by 1%.
I'm not sure I completely understand your conditions, but please try the following:
C3 < O3 AND C2 < O2 AND C1 < O1 AND C < O AND H3 - L3 > H2 - L2 AND H3 - L3 > H1 - L1 AND H3 - L3 > H - L AND O2 <= O3 * .98 AND O1 <= O2 * .985 AND O <= O1 * .99
QUOTE (sukhtejs) If so can I change the percentage to the actual change (points) of a stock?
I'm not a candlestick expert. Could you clarify this a bit further?
QUOTE (sukhtejs) What other parameters would I need to consider before I write this?
The trainers cannot give settings, interpretation or investment advice, but another trader might comment on this.
You may wish to review the following:
Boolean PCFs for Candlestick Patterns
PCFs and EasyScans for Candlestick Patterns
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
Registered User
Joined: 9/6/2005
Posts: 22
|
Thank you for your prompt response. I will try the formula tonight.
|
|
Registered User
Joined: 9/6/2005
Posts: 22
|
Currently I am comparing the drop of the previous bar using a percentage. (for example the 2nd bar's open is lower than the previous bar's open by 2%) Can I change that to where the 2nd bar's open is lower than the previous bar's open by 0.20 cents?
Thanks.
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
That portion of the formula is:
O2 <= O3 * .98
It can modified to:
O3 - O2 >= .2
If you wish to use a dollar value instead of a percentage.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
Registered User
Joined: 9/6/2005
Posts: 22
|
Thank you.
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
You're welcome.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
|
Guest-1 |