Registered User
Joined: 8/29/2006
Posts: 15
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I don't care if its a scan/pcf in Telechart or a rule in Stockfinder I have both. Here is what I am looking for please hlep Thanks.
Optionable Stocks only
Price greater than $10
Price less than $75
Double bottom to have occured in last 30 days
and have retraced around 50% to qualify
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Unfortunately I'm probably not going to be able to be of much assistance in helping you develop this. The big problem is identifying the Double Bottom. You may wish to review the following for information on pattern recognition in TeleChart (probably concentrating on the topics involving double bottoms):
Falling wedge
Cup with a handle formation
PCF for cup with a handle
Scanning for Chart Patterns
Scanning for Stocks Printing a Double or Triple Bottom
PCFs for pennants and flags
PCF's for Triangles
Does TeleChart support Elliott Wave indicators?
Double top/bottom trend
Finding Double Tops and Double Bottoms
CUP AND HANDLE AGAIN
Finding Continuation Triangles And Wedges With Telechart
That said, I personally do not think there is a practical way to do this using EasyScans and TeleChart's Personal Criteria Formula Language. This is true of pattern recognition in general with the exception of fixed size candlestick patterns:
Boolean PCFs for Candlestick Patterns
There is a Double Bottom RealCode Rule in the Web Library that is a result of experimentation by Craig_S. Here's the information he gave me on these settings (I don't understand it):
'# PatternPeriod = userinput.integer = 30
(number of bars the pattern should form in)
'# LowTightnessPercentage = userinput.single = 2
(How close the two bottoms in the pattern should be to each other)
'# NewLowPeriod = userinput.integer = 100
(Period of the first new low)
'# BouncePercentage = userinput.single = 20
(How big the rally between the bottoms should be)
'# BarsSinceSecondBottom = userinput.integer = 5
(bars between the two bottoms)
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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