| Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User
Joined: 10/7/2004
Posts: 19
|
Hi,
I am looking at inverted ABC patterns. Price goes below the 50 sma (the A leg) from above the 50 sma. Then after a number of day(s) the price eventually goes back to the 50 sma (the B leg), then on another day the price would turn down ( a number of days could pass) and the price would be lower than the end of the A leg or at least to the A leg. This is an inverted ABC pattern.
I need a formula or formulas for a sort that would bring up charts: 1. For the end of an A leg that is the start of a B leg 2. Also a formula for the end of B leg near the 50 sma (that is the B leg would turn around and become a C leg.
Thanks Steve
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
QUOTE (RonS) Price goes below the 50 sma (the A leg) from above the 50 sma.
Price crossing down throught the 50-Period Simple Moving Average we can do:
C < AVGC50 AND C1 > AVGC50.1
QUOTE (RonS) Then after a number of day(s) the price eventually goes back to the 50 sma (the B leg)
How close is "goes back to"? Is it within a certain percentage of the SMA50? Something else? Can it cross above? If so how far above the SMA50 can it get and still qualify?
QUOTE (RonS) ...then on another day the price would turn down ( a number of days could pass) and the price would be lower than the end of the A leg or at least to the A leg.
We obviously need step two before we can do step three. That said, I suspect even if we get to a good specific unambiguous objective definition for all three steps, the resulting formula will end up being too long to be practical.
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
Registered User
Joined: 7/30/2007
Posts: 1,072
|
This is slightly off-topic, but it is related ... and I think I know the answer that's coming, but since I'm here I'll ask anyway ...
Are Sequence Conditions coming to TC2000 any time soon?
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
Here's the answer you are probably expecting, "Worden Brothers does not normally discuss products, services or features until they are officially announced or released."
In this case, I have absolutely no idea when (or even if) Sequence Conditions might be added to TC2000.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
Registered User
Joined: 7/30/2007
Posts: 1,072
|
Yeah Bruce, that's pretty much what I figured. That's okay - it's not like Sequence Conditions are actually useful or anything.
|
|
Registered User
Joined: 10/7/2004
Posts: 19
|
How close is "goes back to"? Is it within a certain percentage of the SMA50? Something else? Can it cross above? If so how far above the SMA50 can it get and still qualify?
  Ideally it would touch the 50 SMA. Not necessary, it can be a couple points above or miss by a couple points below. The A leg hopefully would go 5 - 10 points or more below the 50 SMA. Then turn and go back to the 50 SMA. A number of days can pass before the A leg turns and completes its run back toward the 50 SMA. Then the stock would go back down, starting the C leg. The beginning of the C leg is what I want to identify. Hopefully, trade it back to where the A leg ended and maybe a downward breakdown where the A leg ended?
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
QUOTE (RonS) Ideally it would touch the 50 SMA.
We can create a Condition Formula for the Price Bar touching the SMA50 while being below the SMA50 during the previous Bar:
L <= AVGC50 AND AVGC50 <= H AND H1 < AVGC50.1
QUOTE (RonS) Not necessary, it can be a couple points above or miss by a couple points below. The A leg hopefully would go 5 - 10 points or more below the 50 SMA. Then turn and go back to the 50 SMA. A number of days can pass before the A leg turns and completes its run back toward the 50 SMA.
I cannot think of a way to create a formula for this which would be short enough to be practical.
QUOTE (RonS) Then the stock would go back down, starting the C leg. The beginning of the C leg is what I want to identify.
I cannot think of a way to create a formula for this which would be short enough to be practical.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
|
Guest-1 |