Registered User
Joined: 3/30/2008
Posts: 97
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(Q1) In TC, if I have a 10-period moving average on a Daily chart, when I switch to a Weekly view, is that 10-period MA now showing the 10-WEEK average for the past 10 weeks?
(Q2) When creating scans in TC, do I need to use a 50-period average to get the actual 10-week average when scanning for setups on weekly charts? I read somewhere that you have to multiply the averages by 5 when scanning for a Weekly setup, because TC defaults to the daily time frame for all code.
Thanks....
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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QUOTE (lordnel) (Q1) In TC, if I have a 10-period moving average on a Daily chart, when I switch to a Weekly view, is that 10-period MA now showing the 10-WEEK average for the past 10 weeks?
The Charted Moving Averages are based on Bars, so on a Weekly Chart, a 10-Period Moving Average is a 10-Week Moving Average.
QUOTE (lordnel) (Q2) When creating scans in TC, do I need to use a 50-period average to get the actual 10-week average when scanning for setups on weekly charts? I read somewhere that you have to multiply the averages by 5 when scanning for a Weekly setup, because TC defaults to the daily time frame for all code.
TeleChart's Personal Criteria Formulas use Daily data. While AVGV50 would make a relatively good approximation of a 10-Week Moving Average, it would include the Closes of all of the Trading Days during those 10-Weeks instead of just the Closes every 5-Trading Days in its calculations. A better formula for reproducing what is on the Charts would be:
(C + C5 + C10 + C15 + C20 + C25 + C30 + C35 + C40 + C45) / 10
You may wish to review the following:
How to create a Personal Criteria Forumula (PCF)
Moving Average PCF Templates
Things to check if your moving averages don't "seem right" or "seem to match"
PCF Formula Descriptions
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: 3/30/2008
Posts: 97
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Ok, thanks Bruce. :)
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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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