Registered User
Joined: 3/15/2008
Posts: 45
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I use the following custom indicator on the price bars to show a 50% retracement of the highest high over the last 250 days:
maxh250*.50
I want to use the formula as a PCF for my scans. I need help in determining whether you give the formula a value, list rank, or market rank.
Thanks
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Value uses the actual results of whatever calculation or criteria is being used as a Condition or Sort.
Rank compares these Values to all of the other Values calculated for other Symbols and compares them to each other instead (dividing the Symbols into Percentile Ranks).
The trainers can't give setting, interpretation or investment advice, but you would use Value when you want to check for the actual results of a calculation and Rank when you want to see how the calculation results compare to other symbols.
That said, I'm not sure how either would be particularly useful with yuor existing Personal Criteria Formula. It would seem to me that you would want to compare the current Price to the Highest High over the last 250 days and not just calculate half of the Highest High over the last 250 days. For example:
100 * C / MAXH250
Would calculate the current Price as a Percentage of the Highest High over the last 250 trading days when used as a PCF. You may wish to review the following:
How to create a Personal Criteria Forumula (PCF)
Using EasyScan to find stocks that meet your own criteria
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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