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Registered User
Joined: 10/18/2006
Posts: 8
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Hello:
I am a new user, looking for pcf/search that can identify stocks that are in a narrow compressive channel, ready for a breakout. For example look at the compression building in NDAQ (from Nov 06 to August 07), MRK (20 may to mid sept 07).
Thanks
Pawan
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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How do you want to define if the stock is, or is not, in this pattern? What makes NDAQ in this pattern while others are not?
In order to write a formula, we need you to specifically decide what you like about NDAQ so we can find other stocks like it.
- Craig
Here to Help!
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Registered User
Joined: 10/18/2006
Posts: 8
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Craig:
The criteria would be the price oscillating between a converging wedge (triangle), between say the 10 and 20 dat moving average, building to compression. I dont know how you would translate this "qualitative" thought into a pcf. Take a look at FCX graph. If you were to draw a line on the price from 10/29/07 to 1/3/08 - this would be the top line and 11/27/08 to 1/3/08 for the bottom line of a triangle.
I need to write a scan that can help me find such stocks-
Thanks-
psaxena
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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In order to find them with a PCF we have to define the pattern.
Check out this post and see if it helps: PCF's for Triangles
- Craig
Here to Help!
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