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Registered User
Joined: 11/12/2004
Posts: 2
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I have a question in today's Worden Report.
"The Worden Report (Friday, January 4,2008)
Greetings from Sir Rocket Scientist
Sir Rocket Scientist ..., and we appreciate the humility of this one. -DW
Dear Don:
In the summer of 2004 I got interested in a submission by Sir Oversold (WR 7/15/2004), ... More often than not, you should.
Sir Oversolds indicator is:
L<((2.95*MINL15.7)-MAXH7.3)/2 AND STOC50.3<10 AND L
While mine (for overbought) is:
H>((3.05*MAXH15.7)-MINL7.3)/2 AND H>H1 AND STOC50.3>50 AND TSV3
..."
To begin with, "L<((2.95*MINL15.7)-MAXH7.3)/2 AND STOC50.3<10 AND L", per WR 7/15/04, should read as"L<((2.95*MINL15.7)-MAXH7.3)/2 AND STOC50.3<10 AND L<L1". Please make a correction.
My question is about "H>((3.05*MAXH15.7)-MINL7.3)/2 AND H>H1 AND STOC50.3>50 AND TSV3".
What TSV3 is compared with? Could it be TSV3>H1?
Thanks
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Registered User
Joined: 1/28/2005
Posts: 6,049
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My guess is it is a typo.
It definitely is not H1 as TSV is on a different scale
than price.
Since it is an "overbought indicator" my guess would be:
TSV3>0
(the number zero not the open)
Thanks
diceman
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Registered User
Joined: 3/10/2005
Posts: 4
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Re: The Rocket Scientest Over bought / Oversold Formulas.
I tried to set them as as indicators. When I tested them, I got a message back stating that "formula must not return a Boolean Value for a formula indicator"
How do I enter thes formulas into the custom indicator settings?
Thank you.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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flewisc
See this:
http://www.worden.com/training/default.aspx?g=posts&t=28046
Thanks
diceman
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Registered User
Joined: 3/10/2005
Posts: 4
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Diceman
Many thanks.
I just entered the formulas per your instructions.
The oversold works perfectly, but the overbought says that "The formula must return a boolean value for a % True indicator.
Any thoughts?
I did use TSV3>0
Again Thank You
flewisc
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Registered User
Joined: 1/28/2005
Posts: 6,049
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This works on my machine:
H>((3.05*MAXH15.7)-MINL7.3)/2 AND H>H1 AND STOC50.3>50 AND TSV3>0
There is also something about a missing L reference in the
other. The equation appears to be this:
L<((2.95*MINL15.7)-MAXH7.3)/2 AND STOC50.3<10 AND L<L1
(both these work on my machine)
(my guess is there will be some type of clarification in one
of the future Worden reports)
See this:
Thanks
diceman
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Registered User
Joined: 12/30/2004
Posts: 369
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flewisc,
Make sure that both formulas are under "percent true"
Right click on the middle or bottom window, select "Add Indicator," select "Custom" , select "Percent True" it will ask you as to which window to use, click OK and then paste the formula into the window.
Place both the oversold and overbought indicators into the same window.
I have overbought in red and oversold in green.
-amberpax
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Registered User
Joined: 3/10/2005
Posts: 4
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Diceman and Amberpax
My thanks to you both.
One of the many great things about TC 2005 (and updates) is the generosity of fellow members.
Have a Happy and prosperous New Years.
flewisc
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Registered User
Joined: 11/30/2007
Posts: 17
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I posted a question under the thread "sir rocket scientist's indicators" along the same lines as others here. It does not make sense to me that both formulas ended in a truncated boolean, so rather than repeating that whole post from the other thread, I'd ask, ff you will, take a moment to read my post there.
I'd really like to see this resolved. I don't believe that the TSV3 > 0 posulate explains the fact that Oversold's doesn't have a boolean comparator either. Plus, as I said in the other post, I'm too new to understand the thing, anyway.
Can we get Dick to answer us if the community or a trainer doesn't have an answer?
Thanks
John
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The formulas as currently posted in the Worden Report are:
L < ((2.95 * MINL15.7) - MAXH7.3) / 2 AND STOC50.3 < 10 AND L < L1
And:
H > ((3.05 * MAXH15.7) - MINL7.3) / 2 AND H > H1 AND STOC50.3 > 50 AND TSV3 < TSV8
I can only assume from these questions that these are corrections and not the forms that were included originally (as I did not see a copy of the Worden Report with the other versions of the formulas).
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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