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Registered User
Joined: 1/31/2005
Posts: 7
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How do I create an easy scan to scan Weekly data for stocks for stochastics above 80 and below 20, it appears the Telechart defaults to daily data.
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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!
You can Sort by any Indicator to use the desired Time Frame.
Sorting price and indicators by their Actual Value
You could also manually create a Weekly version of the Stochastic, but we would need to know your particular Stochastic settings and if you are interested in the SK or SD to help you create a formula of this type.
- Period: ?
- SK Period: ?
- SD Period: ?
- Average Type: Simple or Exponential?
Understanding Stochastics
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 1/31/2005
Posts: 7
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The settings I would be using for the weekly stochastics scan are:
Period: 13
SK Period: 5
SD Period: 5
Average Type: Simple.
Thanks.
Rodney
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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If you want the SK above 80 the formula should be:
(STOC65 + STOC65.1.5 + STOC65.1.10 + STOC65.1.15 + STOC65.1.20) / 5 > 80
If you want the SK below 20 the formula should be:
(STOC65 + STOC65.1.5 + STOC65.1.10 + STOC65.1.15 + STOC65.1.20) / 5 < 20
If you want the SD above 80 the formula should be:
(STOC65 + 2 * STOC65.1.5 + 3 * STOC65.1.10 + 4 * STOC65.1.15 + 5 * STOC65.1.20 + 4 * STOC65.1.25 + 3 * STOC65.1.30 + 2 * STOC65.1.35 + STOC65.1.40) / 25 > 80
If you want the SD below 20 the formula should be:
(STOC65 + 2 * STOC65.1.5 + 3 * STOC65.1.10 + 4 * STOC65.1.15 + 5 * STOC65.1.20 + 4 * STOC65.1.25 + 3 * STOC65.1.30 + 2 * STOC65.1.35 + STOC65.1.40) / 25 < 20
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 1/31/2005
Posts: 7
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Thank you for your help.
Rodney
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 1/18/2008
Posts: 5
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Should the period be 1 for daily charts scans. Is this the same for Stock finder?
I am a newbie and like to setup stoc %K = 39, %D=1. OBV 30 ma crossover positive as confirmation. My entry should be up over 20, exit down 80.
Stop lost @ -5%
Does this make sense?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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chune,
StockFindar and TeleChart are different programs.
The Period used would depend on what you are using on the Chart. There aren't right or wrong settings.
TeleChart uses a Full Stochastic. The settings for Stochastics available in TeleChart include the Period, SK Period, SD Period and Average Type. Full Stochastics can be used to reproduce both Fast and Slow Stochastics.
Full Stochastic (x,1,y) = Fast Stochastic (x,y)
Full Stochastic (x,y,y) = Slow Stochastic (x,y)
There are other interpretations as well.
Slow Stochastics
Full Stochastic (x,3,y) = Slow Stochastic (x, y)
It's a complete guess since you only have %K and %D with no Stochastic Period, but you might want to try the following Personal Criteria Formula one of the following as your buy in TeleChart:
The formula without confirmation would appear to be (again, guessing as your description is ambiguous):
Slow Simple Stochastic 39 xUp 20:
STOC39.3 > 20 AND STOC39.3.1 <= 20
If you are looking for the first point at which this Stochastic is above 20 and OBV is above the Moving Average, you might want to try something like the following instead:
STOC39.3 > 20 AND OBV > OBV30 AND (STOC39.3.1 <= 20 OR OBV1.1 <= OBV30.1)
I do not know of a practical automated method of implementing a stop loss in TeleChart, but my guess at your exit condition could be written as:
Slow Simple Stochastic 39 xDn 80:
STOC39.3 < 80 AND STOC39.3.1 >= 80
You may wish to review the following:
How to create a Personal Criteria Forumula (PCF)
PCF Formula Descriptions
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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