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Registered User
Joined: 12/21/2008
Posts: 8
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I am trying to use standard 20 period two deviation Bollinger Bands and scan to find where the bands are 6% or less of the simple 20 Day moving average. I can't seem to make it work
Thanks in advance
DR
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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!
Please try using the following Personal Criteria Formula as an EasyScan Condition:
(2 * SQR(ABS(C ^ 2 + C1 ^ 2 + C2 ^ 2 + C3 ^ 2 + C4 ^ 2 + C5 ^ 2 + C6 ^ 2 + C7 ^ 2 + C8 ^ 2 + C9 ^ 2 + C10 ^ 2 + C11 ^ 2 + C12 ^ 2 + C13 ^ 2 + C14 ^ 2 + C15 ^ 2 + C16 ^ 2 + C17 ^ 2 + C18 ^ 2 + C19 ^ 2 - 20 * AVGC20 ^ 2) / 19)) / AVGC20 <= .06
The formula assumes you want to use the difference from the centerline to either Bollinger Band, if you want to use the entire distance between the Bands instead, change the 2 * to a 4 * . 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
Modelling Bollinger Bands (& Standard Deviation) in a TC PCF
Finding Expanding or Contracting Bollinger Bands
PCF Formula Descriptions
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/7/2004
Posts: 28
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Bruce
I relize that you wrote the formula the way you did to save time and keystrokes but you can't do that with standard deviations. For example if C =6 and AVGC20 = 3, (6-3)^2 = 9, while 6^2 - 3^2 =36 - 9 = 27. This is one case where you have to write each step out (C - AVGC20)^2 +(C1-AVGC20)^2 etc.
Gary
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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gadler,
I do have an understanding of basic math. The short version works. If you need to prove it to yourself, Plot both of the following as Custom Indicators:
SQR(ABS(C ^ 2 + C1 ^ 2 + C2 ^ 2 + C3 ^ 2 + C4 ^ 2 + C5 ^ 2 + C6 ^ 2 + C7 ^ 2 + C8 ^ 2 + C9 ^ 2 + C10 ^ 2 + C11 ^ 2 + C12 ^ 2 + C13 ^ 2 + C14 ^ 2 + C15 ^ 2 + C16 ^ 2 + C17 ^ 2 + C18 ^ 2 + C19 ^ 2 - 20 * AVGC20 ^ 2) / 19)
SQR(((C - AVGC20) ^ 2 + (C1 - AVGC20) ^ 2 + (C2 - AVGC20) ^ 2 + (C3 - AVGC20) ^ 2 + (C4 - AVGC20) ^ 2 + (C5 - AVGC20) ^ 2 + (C6 - AVGC20) ^ 2 + (C7 - AVGC20) ^ 2 + (C8 - AVGC20) ^ 2 + (C9 - AVGC20) ^ 2 + (C10 - AVGC20) ^ 2 + (C11 - AVGC20) ^ 2 + (C12 - AVGC20) ^ 2 + (C13 - AVGC20) ^ 2 + (C14 - AVGC20) ^ 2 + (C15 - AVGC20) ^ 2 + (C16 - AVGC20) ^ 2 + (C17 - AVGC20) ^ 2 + (C18 - AVGC20) ^ 2 + (C19 - AVGC20) ^ 2) / 19)
Plotting Custom Indicators with Examples
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/7/2004
Posts: 28
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Bruce
Sorry about that. Had a brain fart. Just came on to retract my comment but you beat me to it.
Keep up the good work.
Gary
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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gadler,
I'm happy to read you were able to figure it out on your own.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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