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Registered User
Joined: 5/12/2009
Posts: 13
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i am trying to use the slow stochastic to include in a scan but the formula i am using is returning charts that do not meet the stochastic requirement ...help please
i am looking for the slow stochastic 8.3.3 %k value to be less than or equal to 40
my formula is stoc8.3 < 40 which is returning charts with stochastics greater than 40
help thanks
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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!
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.
Understanding 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)
Your formula should match the SK of a Stochastic with the following setting in TeleChart being less than 40 on a Daily Chart:
STOC8.3 < 40
- Period: 8
- SK Period: 3
- SD Period: Doesn't matter.
- Average Type: Simple
If your Stochastic was Exponential instead of Simple, the formula and settings that match would be:
XAVG(STOC8,3) < 40
- Period: 8
- SK Period: 3
- SD Period: Doesn't matter.
- Average Type: Exponential
Remember from above that we are using a Full Stochastic however. If you want the %k of a Slow Stochastic you are going to want the SD of one of the following instead as both definitions of a Slow Stochastic are the same in your case:
Full Stochastic (x,y,y) = Slow Stochastic (x,y)
Full Stochastic (x,3,y) = Slow Stochastic (x, y)
AVG(STOC8.3,3) < 40
- Period: 8
- SK Period: 3
- SD Period: 3
- Average Type: Simple
If your Stochastic was Exponential instead of Simple, the formula and settings that match would be:
.500488758553275 * (XAVG(STOC8,3) + .5 * (XAVG(STOC8.1.1,3) + .5 * (XAVG(STOC8.1.2,3) + .5 * (XAVG(STOC8.1.3,3) + .5 * (XAVG(STOC8.1.4,3) + .5 * (XAVG(STOC8.1.5,3) + .5 * (XAVG(STOC8.1.6,3) + .5 * (XAVG(STOC8.1.7,3) + .5 * (XAVG(STOC8.1.8,3) + .5 * (XAVG(STOC8.1.9,3))))))))))) < 40
- Period: 8
- SK Period: 3
- SD Period: 3
- Average Type: Exponential
You may wish to review the following:
How to create a Personal Criteria Forumula (PCF)
PCF Formula Descriptions
Cascades of Moving Averages
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 5/12/2009
Posts: 13
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bruce i tried AVG(stoc8.3,3) < 40 for the simple slow stochastic and re scanned but i still get results that show this indicator above 40 for example ARG
what i am looking for is from market mastery by poulos in his material he specifically references tele chart hope that clarifies my dilema
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I don't show ARG as returning True for your PCF. How are you determining if the Personal Criteria Formula returns True or False for ARG?
How to create a Personal Criteria Forumula (PCF)
Are you using the PCF as an EasyScan Condition?
Using EasyScan to find stocks that meet your own criteria
Are you using the PCF as a Watchlist Column in a Sort?
Customize the Information Displayed in the WatchList
Create your own stock rankings using WatchLists and Sort conditions
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 5/12/2009
Posts: 13
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bruce the only determination is that it shows up in my scan
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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So is that a yes to, "Are you using the PCF as an EasyScan Condition?"
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 5/12/2009
Posts: 13
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whoa i jusreran the scan and the results are different now let me investigate over the week end and get back to you next week ok thanks
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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: 5/12/2009
Posts: 13
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ok bruce yes i am using the stochastic as a scan condition... i just ran it and among other charts it returned OFG and PWRD which my other charting service shows with %K's greater than my cut off of 40. Also the stochastic value i want is as of today not an average
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I cannot speak for the results of third party software and have no idea what settings are being used for the calculation of their "Slow Stochastic 8.3.3 %k" value. It seems likely that an average is employed as the use of the term "Slow Stochastic" generally refers to the addition of a hidden Moving Average not referenced in the settings.
While it is probably only of academic interest in attempting to match these third party results (especially when it is considered that none of the PCFs actually return True for the stocks in question), the PCF for a raw 8-Period Stochastic with no Moving Average applied being less than 40 would be:
STOC8 < 40
All of that said, OFG and PWRD both return False for all four of the PCFs given in my Friday, May 22, 2009 8:59:38 AM ET both when using both 5/22/09 Market Close data and when updated through 5/26/2009 04:40 PM ET (Data delayed at least 20 min).
This would mean that something would appear to be wrong with your Personal Criteria Formula or EasyScan. Start by trying to re-create the EasyScan and if that doesn't work, try re-creating both the PCF and EasyScan from scratch.
Using EasyScan to find stocks that meet your own criteria
How to create a Personal Criteria Forumula (PCF)
If you are still experiencing the problem, please contact technical support so they can troubleshoot what might be wrong with your program installation.
All e-mail communication sent to support@worden.com during business hours (Monday through Friday 9AM-11PM and Saturday and Sunday 9AM-3PM ET) should be answered within 20 minutes of arrival.
For an even quicker response to tech support questions, we recommend calling our voice line at (919) 408-0542 (there is no phone support on Sundays, some Market Holidays or after 9PM ET on weekdays).
You can also contact us using Live Chat Support during business hours.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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