Registered User
Joined: 2/4/2005
Posts: 2
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Hi, i have never used PCF before. Is there any simple tutorial which can help get me start? (i know there is a post her by Craig on simple PCF). I am totally lost coming to all these formulae
When is PCF going to be useful for trading?
Thanks
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Registered User
Joined: 2/4/2005
Posts: 2
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Hi guys, i just found the answers to my questions!! It was under Product/Tutorial section. I guess the question now is to know what i want the software to sort...
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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This post may help you...
Definitions of all built in scanning and sorting criteria
- Craig
Here to Help!
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Registered User
Joined: 3/15/2005
Posts: 1
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Where do I go when Ifrist enter Warden to set up my charts?
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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If you are brand new to TeleChart, first let me welcome you! If you would like to set up some chart templates right away, plotting your favorite indicators, you might want to view these training videos first. They will teach you how to work with chart templates in TeleChart.
Customize your charts using Chart Templates
Adding, removing and saving indicators to a chart template
Chart template saving options in the Tools | System Settings menu
Once you've done that, you might consider watching some of the other videos that Craig listed in his post above. These are videos that cover many of the basic features of TeleChart and will help to give you a good overview of the program.
And of course, there are over 50 training videos in the Product Help/Tutorial Videos forum.
Don't forget that you can ask questions of us anytime by posting questions in the Ask a Trainer forum. We're heere to help you in any way we can. Again, welcome to the TeleChart family!
- Doug
Teaching Online!
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Registered User
Joined: 2/28/2005
Posts: 7
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Need help!
Can’t get the formula of bullish engulfing candlestick to work.
(o / c) * 100 no problem works fine
(o / c1)* 100 no problem works fine
(o1/c1)*100 the value 100.006 can’t get it to work
(c / o1)*100 same thing the value 100.047 don’t work on my computer.
New subject
What is the formula
1. All I’m looking for is higher volume today then yesterday at close of day
2. Closed higher today than yesterday.
3. I like to sell short any sugestions?
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I don't know what you mean by "can't get to work"
For your others:
1) Create a VOLUME PERCENT CHANGE PCF:
(V-V1)/V1*100
You can then scan for positive or negative changes in volume
2) Price Percent Change is already in your system for sorting and scanning
3) I would look in the MARKET TALK forum for ideas on shorting.
- Craig
Here to Help!
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Registered User
Joined: 12/15/2004
Posts: 1
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Would appreciate help in setting up:
1. Equation for the slope of a Moving Average.
2. Method for measuring the change in slope in relation to time.
Thanks (email removed by Moderator)
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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When you say "slope" do you mean a linear regression line on the Moving Average?
- Craig
Here to Help!
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Registered User
Joined: 11/15/2004
Posts: 5
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WHAT`S MEAN (BOP)(TSV) IN THE CHART.AND WERE WE CAN REATCH EXPLICATIONS TO THESE INDICATORS IN YOU TRAINING .THANKS
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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From the helpfile (which you can access and search using the HELP menu item at the top of your program)
Balance of Power
BOP is the exclusive intellectual property of Worden Brothers, Inc. It was developed by Don Worden, a leading technical innovator and writer dating back to the nineteen fifties. In 1994 he was the recipient of the award for significant contribution to technical analysis, given annually by the Market Technicians Association.
BOP tells you whether the underlying action in the trading of a stock is characterized by systematic buying (accumulation) or systematic selling (distribution). The single most definitive and valuable characteristic of BOP is a pronounced ability to contradict price movement. BOP goes far beyond the "divergences" that many technical indicators are capable of. In divergence analysis, the price and the indicator tend to move together. A divergence is detected when, for example, the price makes a new high and the indicator fails to confirm.
BOP is capable of outright contradiction. Thus, while the price is attaining new highs, BOP may very well be attaining new lows. It is not unusual for BOP to move in the exact opposite direction of price.
BOP is plotted above and below a zero line. However, it is not an oscillator. It does not swing up and down with the price. It goes its own way, often quite independent of price movement. When BOP is above the zero line, it is depicting systematic buying. When it is below the line, it is revealing systematic selling.
For convenience, BOP is plotted in color. Green signifies dominant buying, red dominant selling. When BOP is close to the zero line, revealing no clear dominance of either buying or selling, it is plotted in yellow. (This is all patterned after stop and go lights). For even greater convenience, the price bars are plotted in the same colors as the corresponding BOP bars below. It is possible to interpret BOP using only the colored price bars. This is a boon to those who have difficulty rectifying the spatial relationships inherent in chart reading.
BOP fits into a category of devices that can be termed "trend quality" indicators. A variety of methods lead naturally to buy and sell signals. What BOP tells you is something about the quality of the underlying trend. Not itself a pinpoint timing indicator, BOP will modify your assessment of the vital risk-reward ratio of a trade or investment. It will help you determine whether the supply-demand balance will be in your favor. It will help you spot changes of character in a stock's action.
Why isn't BOP a perfect indicator? First, because there is no such thing. What BOP does, it does extremely well. BOP brings out hidden patterns of accumulation or distribution, and it does so with great reliability. But you see, a significant increase in price is not the inevitable result of informed accumulation. Distribution does not inevitably lead to a collapse in price. Even well informed buyers and sellers can be wrong about future price trends. BOP offers an inside glimpse of informed accumulation or distribution, not a sure-fire key to riches.
Let us just say that if you invest consistently in the same direction as informed money, your chances of success will increase significantly. Watch particularly for changes in character at potential tops and bottoms. Be suspicious of stocks in which BOP hasn't worked well. If the BOP pattern was misleading in the past, it will probably continue to be so in the future. Look for charts where BOP has shown selling at tops and buying at bottoms. Look for honest charts and avoid the double-crossers.
The BOP scale runs from 100 to -100. The indicator itself can rise above or below these extremes, but it is relatively rare. When it happens, we just truncate the profile at the top or bottom of the chart. Since the scale is consistent from chart to chart, you are able to make direct comparisons from stock to stock. Some will ask, which is the most important: (1) Whether BOP is above or below the zero line? Or (2) whether the direction of the BOP profile is up or down, which is to say, whether BOP is improving or deteriorating? Of first importance is whether BOP is above or below the zero line. This indicates dominant buying or selling on an absolute basis. However, a positive BOP with a deteriorating pattern can be significant as well. But only in a divergent situation. Thus a positive BOP moving down in tandem with an eroding price could not be interpreted bearishly. But a positive BOP moving down into a rising price must be construed bearishly. This would be all the more so if the price is actually attaining new highs. Conversely, a positive BOP moving up into a falling price should be interpreted as a positive, and all the more so if the price is breaking so-called "support levels." Where absolute BOP versus improving or deteriorating BOP seem to be contradictory, you will often find that the answer lies in the time implications. Absolute BOP (green or red) usually has the longer-term implications.
One last point. Before you arrive at a decision on any stock, check BOP (as well as all other indicators you find useful) in a variety of time frames. Even if you are a so-called day-to-day "scalper," you will benefit greatly by being aware of a stock's pattern over a period of at least five years. "Tips and Hints" in the Worden Report often features examples of BOP interpretations. These demonstrations are often written by Don Worden himself.
Time Segmented Volume
A proprietary technical indicator developed by Worden Brothers, Inc. TSV is an oscillator, which is calculated by comparing various time segments of both price and volume. TSV essentially measures the amount of money flowing in or out of a particular stock. The horizontal line in the middle, which extends across the entire length of the indicator window, represents the zero line. When TSV crosses up through the zero line it signals positive accumulation or buying pressure. This action is considered bullish. Conversely, when TSV crosses below the zero line it indicates distribution or selling pressure, which typically precedes a move down in price.
Another important thing to look for when interpreting TSV is a contradiction of trends between price and TSV. Look for positive or negative divergences between price and TSV in order to determine potential tops and bottoms. Several consecutive divergences increase the reliability factor in trying to pinpoint price reversals. For instance, if price has been making successively higher highs while TSV has been making successively lower highs, this would constitute a series of negative divergences. This would be an indication of a possible top.
TeleChart gives you the ability to calculate a TSV on a wide variety of moving averages, which simply allows you to smooth the indicator, thereby filtering out the less significant swings. You will notice that as you increase the value of the moving average (and this applies to any indicator, not just TSV) the result is a smoothing effect. However, there is a trade-off. As you increase the length of the moving average, the indicator becomes less sensitive to daily fluctuations. And as a result, the indicator will have a greater tendency to lag price.
One of the new features of this indicator is the ability to calculate a moving average of another moving average. This addition has made TSV more effective and easier to use. Now you can calculate a moving average of an already smoothed TSV and use it much in the same way the MACD indicator is used. Positive and negative TSV crossovers are one more thing to consider when trying to form an opinion on a particular stock or market index.
Example Settings:
Short Term Trading: TSV period between 9 and 12
Intermediate Term Trading: TSV period between 18 and 25
Long Term Trading: TSV period between 35 and 45
If you click the BOOKS AND VIDEOS link at the top of this page you will find several videos by Peter Worden that train you how to use all of our proprietary indicators.
- Craig
Here to Help!
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Registered User
Joined: 3/2/2005
Posts: 4
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I would like to create an easy scan that would locate optionable stocks > $10.00. I am looking for a comparison between 6, 10 , 100 day historical volatility. What I would like to see is when the 6 day and 10 day are less than 1/2 the 100 day. I can create part of this but I am struggling with the comparsion. Can you help.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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How do you want to measure volatility?
- Craig
Here to Help!
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Registered User
Joined: 3/2/2005
Posts: 4
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I am not a mathmatician but the definition of volatility after looking it up = one standard deviation of the natural logarithm of the price change annualized. I would like to measure the historical volatility used for options calculations. I am assuming there is a formula to measure the stocks price changes to get this. Your easy scan had volatily but I could not understand how to equate it to "X" days vs "Y" days.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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The PCFs for this would be beasts (especially when you get to 100 days). Here are some simple volatility PCFs that compare the average trading range to the maximum trading range:
6-day
(MAXH6-MINL6)/(AVGH6-AVGL6)*100
10-day
(MAXH10-MINL10)/(AVGH10-AVGL10)*100
100-day
(MAXH100-MINL100)/(AVGH100-AVGL100)*100
Create each of them and sort some WatchLists by them in descending order. You will see the most volatile stocks at the top of the list.
QUOTE (You) What I would like to see is when the 6 day and 10 day are less than 1/2 the 100 day
Look at the stocks this PCF finds and see if they are what you want:
(((MAXH6-MINL6)/(AVGH6-AVGL6)*100)< ((MAXH100-MINL100)/(AVGH100-AVGL100)*50)) AND (((MAXH10-MINL10)/(AVGH10-AVGL10)*100)< ((MAXH100-MINL100)/(AVGH100-AVGL100)*50))
- Craig
Here to Help!
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Registered User
Joined: 3/2/2005
Posts: 4
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Craig I did try the formula and it does work. Thanks  However I did find an example of a formula for 10 day historical volatility and I am wondering if this would work in your system. ((Std(Log(C/Ref(C,-1)),10)*Sqr(365))) If this does work can you help me rework the whole formula so I can do a comparison between the two. Thanks again.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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brnewman,
You may be interested in the following forum topic:
Historical Volatility (HV)
If you still have questions about writing your formula after reading through the topic, it would be best to ask them there.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 1/21/2006
Posts: 4
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Thanks again for your prompt reply...looking forward to future talks. Time to start studying!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Let us know if you need anymore help...
- Craig
Here to Help!
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Registered User
Joined: 2/10/2006
Posts: 10
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dear ms/sir:
can your service provide me with lists of stocks closing on a particular day with an rsi of my choosing using my perameters?
example: all nasdaq and dji stocks which closed with a 14 day rsi over 75 and under 30?
thank you
don larsen
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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You can have your TeleChart create this list for you.
Watch these videos for me:
How to create a Personal Criteria Forumula (PCF)
Using EasyScan to find stocks that meet your own criteria
Then check out the RSI syntax for PCFs:
Handy PCF example formulas to help you learn the syntax of PCFs!
- Craig
Here to Help!
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Registered User
Joined: 12/15/2004
Posts: 81
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I would like a pcf for this......
..A stock that came from its recent most low to go past its most recent high...
Thank you
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I need you to do three things:
Watch this short video:
Learn how to use the forums: post a new topic, reply, Search existing topics
It will teach you how to post a NEW topic here in the forums for your own question.
Post this as a new topic and include the time frame in your request.
"came from its recent most low"
Its low for what time period? Lowest low for the past 5 days? Month? Year? How long ago should that low of been reached? How many days has it "came from" that low? Was that low formed in the last month? week?
It is now making a new high. New high for the past month, week, year?
I look forward to your post in ASK A TRAINER.
- Craig
Here to Help!
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Registered User
Joined: 6/28/2006
Posts: 2
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Hi, is there any way to get this information from telechart?
1. Date for the next profit report and if this is going to be am or pm
2. Date for the next split
Thanks in advance, Epifanio Pineda
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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For #1, no.
For #2, check out this video: Sorting by Split Date to identify stock splits
- Craig
Here to Help!
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Registered User
Joined: 5/29/2006
Posts: 1
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Need Help!
My Stochastic Settings = Period 12, K 6 and D 8 seem to work fine in my daily and weekly charts but "Almost Always" I get a "Roll Over" at the top of the 80 when I apply it to my Monthly "Historical Chart". Any suggestions will be appreciated.
Thank you, Max.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Can you give me a ticker example so I know what you mean. I am not sure I understand what a "roll over" is.
- Craig
Here to Help!
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Registered User
Joined: 6/1/2006
Posts: 23
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i think there is something wrong with my telechart update. i updated my telechart but the data is missing one day. I am using: All Stocks, tab 6, then I click on the yellow column as Sort (Price percent change today 8/28/06) I am getting HOKU as the biggest gainer whereas it's gone done today. Gained 36.05% the day before. I am doing it simultanously with a friend who's also subscribed to Worden Telechart Gold his update is up to date whereas mine is friday's close. Please help! ASAP!
HT
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Please contact our support team so they can get this straight for you
Technical Support is available via telephone, live chat and email. Their hours are 9AM - 9PM EST through the week, and 9AM - 3PM Saturday. support@worden.com or 919.408.0542. Support is also available via live chat. You can go to the Live Tech Support Chat during business hours for live interactive chat with one of the Tech Support Agents.
- Craig
Here to Help!
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Registered User
Joined: 6/1/2006
Posts: 23
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tx
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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You're welcome.
- Craig
Here to Help!
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Registered User
Joined: 7/8/2006
Posts: 20
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Hi guys. I am UK trader who unfortunately does not have TSV and BOP as indicators in my software. Is there any other indicator that i can use instead or something that is near by the tsv or bpo concept?
I thought originally RSI along with volume and stochastics but i am not quite sure about the comparison i just made...
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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TSV and BOP are only available in TeleChart and are proprietary.
You may find these two items interesting:
Basic Info on BOP, TSV and MoneyStream
Don Worden on the history of BOP and MoneyStream
- Craig
Here to Help!
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Registered User
Joined: 7/8/2006
Posts: 20
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Craig,
Thanks for replying to me.
However it looks like you did not answer to my question.
The RSI along with Stochs can be a good alternative to the worren trademarks indicators for people not trading in USA?
I am using those indicators for the UK market. Do you think I should replace them with something similar in term of effectiveness to the TSV or MS worren indicators?
And if your answer is neutral which indicators to your opinion have a similar function of the TSV and MS?
Thanks again for your time
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Did you read both posts I linked above? You will see that RSI, STOC and our indicators are very different. If you mean "are they like BOP/TSV" when you say "a good alternative" the answer is no. That does not say anything bad about any of the indicators... they are just different.
I cannot recommend indicators as a trainer. Please read both posted links I gave... I think you will find valuable information for your quest in them.
- Craig
Here to Help!
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Registered User
Joined: 7/8/2006
Posts: 20
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Thanks again
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Registered User
Joined: 8/1/2005
Posts: 1
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Where can I find formulas for MACD, similar to bop/rsi etc to sort & scan in telecharts
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Check out this video and the PCF templates under it:
Understanding MACD
I found this by searching the forums. You too can search these forums for anything. Watch this short video on how to get the most from these forums: Learn how to use the forums: post a new topic, reply, Search existing topics
- Craig
Here to Help!
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Registered User
Joined: 9/7/2006
Posts: 1
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I'm new to Telecharts having subscribed to it after hearing its capabilities of Indicator builder and EasyScan for good trading capabilities. As I trade only stocks on the Malaysian stock exchange, could someone help me on how to load KLSE EOD data into Telechart
to view the charts and to carry out the scan. The EOD data is in Metastock format or in ASCII text.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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There is no way to import data into TeleChart.
- Craig
Here to Help!
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