Registered User
Joined: 10/7/2004
Posts: 9
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Would you please tell me how to create scans with weekly charts?
For example, I would like to create a scan on weekly charts where the closing low on the week is greater than the 10 period simple moving average.
Appreciate
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Welcome to the forums. A very good foundation for learning how to use TeleChart can be gained by reviewing the following:
If you are new to TeleChart READ THIS FIRST!
If I'm understanding the request correctly, one way to write it would be (Weekly Bars in TeleChart are rolling 5-Trading Days per Bar, not calendar weeks):
MINL5 > (C + C5 + C10 + C15 + C20 + C25 + C30 + C35 + C40 + C45) / 10
Personal Criteria Formulas and EasyScans are always based on Daily data, but it is frequently possible to create Weekly PCFs using Daily data for use in an EasyScan. The technique for converting a formula from Daily to Weekly varies depending on the formula.
For the Open, multiply the days ago parameter by 5 and add 4 to get the weekly version.
O = O4
O1 = O9
O2 = O14
For the High, H is replaced by MAXH5 and if there is a days ago parameter in the daily version, multiply it by 5 and separate it from MAXH5 with a '.'.
H = MAXH5
H1 = MAXH5.5
H2 = MAXH5.10
The Low is treated very much like the High. L is replaced by MINL5 and if there is a days ago parameter in the daily version, multiply it by 5 and separate it from MINL5 with a '.'.
L = MINL5
L1 = MINL5.5
L2 = MINL5.10
The Close is probably the simplest. Just multiply the days ago parameter in the daily version by 5 to get the weekly version.
C = C
C1 = C5
C2 = C10
Volume is an interesting case. To get the actual Volume for a weekly bar (in Blocks of 100), you would need to multiply the Average Volume by 5. So V would be replaced by AVGV5 and if there is a days ago parameter in the daily version, multiply it by 5 and separate it from MINL5 with a '.' just like with the High and Low. But add *5 to the end of each weekly version whether or not there is a days ago parameter.
V = AVGV5*5
V1 = AVGV5.5*5
V2 = AVGV5.10*5
That said, if you are just comparing one Volume to another, there really isn't a reason to multiply it by 5 at all:
AVGV5*5 > AVGV5.5*5
Will return the same result as:
AVGV5 > AVGV5.5
Things can get a lot more complicated for weekly versions of some indicators. In same cases, it is not possible to write a weekly version (a weekly TSV for example).
Indicators on the Chart are based on Bars (with all of the settings being in Periods, not Days), so if you adjust the Time Frame, it will automatically adjust all of the Indicators to match. 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
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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