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Registered User
Joined: 6/25/2005
Posts: 8
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Hi,
I am looking into developing the Chart Pattern Indicator in TC which I could plot according to the rules on Bulkowski Chart Patterin Indicator page. (Please see http://thepatternsite.com/CPI.html#AADB0, subtitle "Background")
He says he scans for a breakout of his NR7 pattern (which is only a scan for the narrowest range of 7 days) and then performs some counting based on this. I have a basic NR7 PCF formula down, which is the following:
H - L < H1 - L1 AND H - L < H2 - L2 AND H - L < H3 - L3 AND H - L < H4 - L4 AND H - L < H5 - L5 AND H - L < H6 - L6 AND H - L < H7 - L7
This produces TRUE if the stock is NR7 today.
I need some help producing the indicator please. If you look at his results (http://thepatternsite.com/CPI.html#AADB2), apparently it is a good indicator. Any contribution is greatly appreciated,
thanks,
NY
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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If I'm understanding the Indicator correctly, I cannot think of a practical automated method of calculating the Indicator within TeleChart (but you could use the TeleChart data in Patternz).
-Bruce
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Registered User
Joined: 6/25/2005
Posts: 8
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Thank you for your reply.
Based on your knowledge, do you think you could construct it in StockFinder though?
NY
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Yes, I probably could construct in StockFinder. That said, the resulting Indicator should never be used for backtesting as it uses future data.
I'm not a programmer, so it's also something that is going to take me a decent amount of time to write (long enough that it's only going to get worked on between answering other questions). I also already have another project in this category that came first (In Channel Since NH) that will get higher priority as a result.
-Bruce
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Registered User
Joined: 6/25/2005
Posts: 8
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I appreciate your time spent on this project. Please let me know of any news, I'll try to produce some code too in Stockfinder to see how far I can advance, and will post here if anything develops.
NY
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I'll certainly let you know when I'm done or if I encounter any unexpected difficulties along the way.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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