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Registered User
Joined: 10/20/2005
Posts: 79
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Greetings -
Trying something a little different...
Can you please construct for me a PCF that will locate all stocks that have a wick (below the close of the day)whose length is on average less than 15% of the price change between open and close over the last 20 days. This would mean that on any single day of the last 20 days the lower wick would be less than 15% of that day's net change in price. I'm assuming that I'll be able to manipulate this formula to create one for wicks above the close of the day.
Many thanks!
CB
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Registered User
Joined: 10/20/2005
Posts: 79
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Oops, I left out one detail...
This PCF is only for the days over the last 20 days in which the closing price is greater than the opening price.
Thanks again -
CB
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Please try the following:
AVGC20 + AVGO20 - 2 * AVGL20 < 1.3 * (ABS(C - O) + ABS(C1 - O1) + ABS(C2 - O2) + ABS(C3 - O3) + ABS(C4 - O4) + ABS(C5 - O5) + ABS(C6 - O6) + ABS(C7 - O7) + ABS(C8 - O8) + ABS(C9 - O9) + ABS(C10 - O10) + ABS(C11 - O11) + ABS(C12 - O12) + ABS(C13 - O13) + ABS(C14 - O14) + ABS(C15 - O15) + ABS(C16 - O16) + ABS(C17 - O17) + ABS(C18 - O18) + ABS(C19 - O19)) / 20
One note: The above formula is based on Open to Close as described in your indicator. The Net Change in Price is the difference between Closing Prices.
You may wish to review the following:
How to create a Personal Criteria Forumula (PCF)
Handy PCF example formulas to help you learn the syntax of PCFs!
Personal Criteria Language Function List
Oops... and this formula is based on my interpration of your first request. I'll write another formula for your secend request.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/20/2005
Posts: 79
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Thanks, Bruce... I'll belooking for the next PCF.
CB
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Please try the following instead:
((C > O) * (L - O) + (C1 > O1) * (L1 - O1) + (C2 > O2) * (L2 - O2) + (C3 > O3) * (L3 - O3) + (C4 > O4) * (L4 - O4) + (C5 > O5) * (L5 - O5) + (C6 > O6) * (L6 - O6) + (C7 > O7) * (L7 - O7) + (C8 > O8) * (L8 - O8) + (C9 > O9) * (L9 - O9) + (C10 > O10) * (L10 - O10) + (C11 > O11) * (L11 - O11) + (C12 > O12) * (L12 - O12) + (C13 > O13) * (L13 - O13) + (C14 > O14) * (L14 - O14) + (C15 > O15) * (L15 - O15) + (C16 > O16) * (L16 - O16) + (C17 > O17) * (L17 - O17) + (C18 > O18) * (L18 - O18) + (C19 > O19) * (L19 - O19)) / ((C > O) * (O - C) + (C1 > O1) * (O1 - C1) + (C2 > O2) * (O2 - C2) + (C3 > O3) * (O3 - C3) + (C4 > O4) * (O4 - C4) + (C5 > O5) * (O5 - C5) + (C6 > O6) * (O6 - C6) + (C7 > O7) * (O7 - C7) + (C8 > O8) * (O8 - C8) + (C9 > O9) * (O9 - C9) + (C10 > O10) * (O10 - C10) + (C11 > O11) * (O11 - C11) + (C12 > O12) * (O12 - C12) + (C13 > O13) * (O13 - C13) + (C14 > O14) * (O14 - C14) + (C15 > O15) * (O15 - C15) + (C16 > O16) * (O16 - C16) + (C17 > O17) * (O17 - C17) + (C18 > O18) * (O18 - C18) + (C19 > O19) * (O19 - C19) + .00001) < .15
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/20/2005
Posts: 79
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Bruce,
I "sort of" understand how this works. I don't understand from my days in school how a > function can me used as a multiplier, but it does work and that's what counts. This PCF appears to find stocks with relatively small bottoming tails... which is good. But what I'm unsure why this indicates the average bottoming tail over the last 20 days is less than 15% of the average (O-L) for only stocks where (C-O) is positive. If I can understand how these PCFs are created I am better able to create (or modify) new ones. Any light you can shed here will be most appreciated.
Thank you!
CB
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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If you place a Boolean formula inside parentheses, it will return -1 if True and 0 if False when used as part of a larger value based Personal Criteria Formula. This is not a supported feature, but it is used in many of the formulas posted in the forums.
So, if C > 0, it will return -1. If you multiply this by L - O, you will get either zero or the Open minus the Low as a result. Repeating this twenty times and adding together the result gives the total length of the wicks on days when the Close was greater than the Open. The denominator is similar except that each term is either zero or the Close minus the Open. The result is the total length of the lower wicks divided by the total length of the body only for days when the Close was greater than the Open during the last twenty days. The .15 in the formula represents 15%.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/20/2005
Posts: 79
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Got it... many thanks!
CB
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 1/1/2005
Posts: 2,645
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CB,
Bruce's first PCF returns True if and only if the average lower wick length is less than 15% of the average body length where the average is over the last 20 days. Is that what you intended in your first post?
Bruce's second PCF returns True if and only if the average lower wick length is less than 15% of the average body length where the average is over the last 20 for which C > O. Is that what you intended by the modification in your second post?
In your first post you stated:
"This would mean that on any single day of the last 20 days the lower wick would be less than 15% of that day's net change in price."
Let's assume that you actually meant:
This would mean that on any single day of the last 20 days the lower wick length would be less than 15% of that day's body length.
That is not true. For example, Suppose AVGO20 < AVGC20. We can only conclude that O < C for at least one of the 20 days, but not for all of the 20 days.
Thanks,
Jim Murphy
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