Registered User
Joined: 11/14/2005
Posts: 77
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Hi,
How to write a pcf for Weekly Donchannel breakout (up/down)?
Thank you
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The formula would depend on the Donchian Channel's Period. Here are some example formulas that assume a Period of 10:
Close above 10-Week Donchian Channel:
C > MAXH50.5
High above 10-Week Donchian Channel:
MAXH5 > MAXH50.5
Close below 10-Week Donchian Channel:
C < MINL50.5
Low below 10-Week Donchian Channel:
MINL5 < MINL50.5
You may wish to review the following:
How to create a Personal Criteria Forumula (PCF)
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 4/28/2005
Posts: 59
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Bruce,
I am new to TC and have been reading many of the posts in the different forums and viewing the training videos as I came across them. I came across this post about a PCF for a Breakout up or down of a 10 week Donchian Channel. I am interested in setting up a pcf to do the same and thanks to you I now have the formulas from you response to Happy1398.
I am pretty new to this so I think I am suffering from the forest for the trees syndrome but I have a question about the formulas that you provided. In both close above 10-week Donchian Channel and close below the 10-week channel formulas, they end with a ".5":
C > MAXH50.5
C < MINL50.5
My question is: Does the ".5" mean the 10-week close 5 days ago? If so, would it not be the same to write the formulas as:
C > MaxH45 and C < MinL45 respectively?
Thanks for helping thin the trees in my forest..... 
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Registered User
Joined: 1/28/2005
Posts: 6,049
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"Does the ".5" mean the 10-week close 5 days ago?"
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It means the value of the highest high for 50 bars (MAXH50.5)
five bars ago.
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"if so, would it not be the same to write the formulas as:
C > MaxH45 and C < MinL45 respectively?"
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Two things. This would be the MAXHIGH for only 45 bars.
(the five bars to the left can change its value vs. the 50 length)
Also as written this (C > MaxH45 ) can never be true.
We can only equal today's highest high. (if we break it, it will
become a new high)
You would need something like C>MAXH45.1 on a daily
(a 1 day breakout of a 45 day range)
or C>MAXH45.5 on a weekly.
(the equivalent of a 9 bar weekly channel)
Thanks
diceman
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Registered User
Joined: 4/28/2005
Posts: 59
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Diceman,
Thank-you!!!
I appreciate you taking the time to explain something that now seems so straight forward, logical and simple.
Paul
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