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Registered User
Joined: 4/17/2008
Posts: 14
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Hi,
Can you tell me how do I set up an easy scan that only picks out stocks in an uptrend that come down to test the 20DMA then bounce up from the 20DMA...and vise versa....stocks in a downtrend that come back up to test the 20DMA and bounce down off the 20DMA?
Many thanks
Dragan
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Do you have particular unambiguous objective definitions in mind for uptrend, downtrend and bounce?
-Bruce
Personal Criteria Formulas
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Registered User
Joined: 4/17/2008
Posts: 14
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Hi Bruce,
From my experience, I have found that with the indicators in my favour i.e. rising volume, RSI near 50 and stochastics crossing over, stocks that bounce off the 20DMA after a retraction from it's trend tend to continue the trend as a measured move. So, if I see an uptrend of 50 points, the stock retracts say 10 points but then bounces of the 20DMA, they usually bounce up 50 points. I would like to find all stocks either bouncing down or up off the 20DMA to see if the indicators are in my favour to get into the trade.
Does that make sense or would you like me to explain anything else?
Thanks for your help.
Dragan
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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It may make sense, but it doesn't unambiguously define uptrend, downtrend or bounce. The trainers can help you attempt to implement your definitions, but we can't define these terms for you. Your ideasof what constitutes a trend or a bounce could differ significantly from other people's ideas of what constitutes a trend or a bounce.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 1/28/2005
Posts: 6,049
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Dragan
Terms like "in my favor" and "bounce" are not terms telechart would understand.
You need explanations like:
volume is higher than it was 3 days ago,
The 20 moving average is higher than it was 3 days ago,
Yesterdays low was beneath the 20 average and today's low is above.
Exact definitions can be tested in telechart.
Hope that helps.
Thanks
diceman
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Registered User
Joined: 4/17/2008
Posts: 14
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Ok, let me try to put it in the right context. How about this simple version first?
1. I need to see all stocks that have opened on the 20dma (exp) and closed above yesterday's close. I can view results via my own volume pcfs so don't worry about those.
I also require the opposite - All stocks that have opened on the 20DMA (exp) and closed below yesterday's close. Again, I have my own volume pcf I will use for viewing.
If you guys can help me wit this I will evaluate the results and come back with a more detailed explenations of an uptrend and down trend.
Thanks again
Dragan
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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QUOTE (dlukic) 1. I need to see all stocks that have opened on the 20dma (exp) and closed above yesterday's close. I can view results via my own volume pcfs so don't worry about those.
Taken literally, this would be:
O = XAVGC20 AND C > C1
That said, the open is almost never going to exactly equal the 20-Period Exponential Moving Average. In addition, the 20-Period Exponential Moving Average is going to change through the day unless the High equals the Low. A formula for the Moving Average intersecting the Price Bar while the current Close is above the previous Close would be:
L <= XAVGC20 AND XAVGC20 <= H AND C > C1
QUOTE (dlukic) I also require the opposite - All stocks that have opened on the 20DMA (exp) and closed below yesterday's close. Again, I have my own volume pcf I will use for viewing.
The issues are identical. A literal interpretation would be:
O = XAVGC20 AND C < C1
A formula for the Moving Average intersecting the Price Bar while the current Close is below the previous Close would be:
L <= XAVGC20 AND XAVGC20 <= H AND C < C1
You may wish to review the following:
How to create a Personal Criteria Forumula (PCF)
PCF Formula Descriptions
Moving Average PCF Templates
Things to check if your moving averages don't "seem right" or "seem to match"
Handy PCF example formulas to help you learn the syntax of PCFs!
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 4/17/2008
Posts: 14
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Great! Your formulas seem to be gathering some pleasing results. However, there are still a few stocks that pass my criteria which need to be eliminated.
What additional pcf's can I insert to find stocks with the same 2 criteria as above but only if:
a) 8DMA (exp) is above the 20DMA (exp) for the (L <= XAVGC20 AND XAVGC20 <= H AND C > C1)
b) 8DMA (exp) is below the 20DMA (exp) for the (L <= XAVGC20 AND XAVGC20 <= H AND C < C1)
Thanks Bruce!
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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QUOTE (dlukic) a) 8DMA (exp) is above the 20DMA (exp) for the (L <= XAVGC20 AND XAVGC20 <= H AND C > C1)
XAVGC8 > XAVGC20 AND L <= XAVGC20 AND XAVGC20 <= H AND C > C1
QUOTE (dlukic) b) 8DMA (exp) is below the 20DMA (exp) for the (L <= XAVGC20 AND XAVGC20 <= H AND C < C1)
XAVGC8 < XAVGC20 AND L <= XAVGC20 AND XAVGC20 <= H AND C < C1
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 4/17/2008
Posts: 14
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Bruce, you're a legend!
The results are exactly what I needed.
Thanks again for your help.
Dragan
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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dlukic,
You're welcome. Our pleasure.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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