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 Gold Customer
Joined: 3/22/2005
Posts: 17
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I would like to identify small range bodies (C-0) that are 1/8 of the range of the average bodies of the last 30 days... I have tried something, but I do not think it is correct...would appreicate some help.
ABS(C-O)=<AVG(C-O)30*0.125
If I wanted to find bodies for the last 3 days...that met that criteria...I tried the following...is that correct?
(ABS(C-O)AND ABS(C1-O1)AND ABS(C2-02))=<AVG(C-O)30*0.125 ... or (assuming the correct PCF to begin with)....should I just write 3 seperate PCF's for each day....seperated by an AND. I dont know whether including all 3 in one PCF would make the sum of all three days <= 1/8 of the average body range of the last 30 days...(I want each day to be <= 1/8 of the average body range of the last 30 days)
My objective is to try to find doji type patterns that are consolidating and have not yet broken out...any further suggestions would obviously be appreciated.
Thanks so much
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Registered User
Joined: 1/28/2005
Posts: 6,049
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I believe this would work for 1 day:
ABS(C-O)<=((AVGC30-AVGO30)*.125)
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For multiple days I would experiment with
the OR function.
(ABS(C-O) or ABS(C1-O1) or ABS(C2-O2))<= "range*.125"
I have never used the "OR" function and do not no if there are
any "quirks" involved with its set-up.
(the form I used above may not be valid)
Thanks
diceman
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Your formula won't work, diceman. Remember the opens can be above the closes or below them on each particular day (unlike, say, highs and lows).
This should work:
ABS(C-O)<=(0.125*
(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)+
ABS(C20-O20)+
ABS(C21-O21)+
ABS(C22-O22)+
ABS(C23-O23)+
ABS(C24-O24)+
ABS(C25-O25)+
ABS(C26-O26)+
ABS(C27-O27)+
ABS(C28-O28)+
ABS(C29-O29)+
ABS(C30-O30))/30)
- Craig
Here to Help!
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Registered User
Joined: 1/28/2005
Posts: 6,049
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Quote:"Your formula won't work, diceman."
Craig, my formula will work. It will just find different candidates than yours.
Since pacific included ABS in the one day and not in the average.
I thought it was possible the average range was being used as a filter.
(only stocks on-balance positive could be included in the scan. Bearish
stocks would be eliminated because an ABS value can never be less than a
negative value)
At least that was my thought process.
---------------------------------------------------------------------------------------------------
Pacific, I would include another filter in this. Something like:
ABS(C-O)>.03
Just to insure the stock has had activity. Many "dead" flatline stocks
fall into this scan. Where the close and open are the same value.
Thanks
diceman
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