Hi Bruce,

This line of inquiry is along the the line of Dave Landry's method of scanning.

We're looking for a 20-day High sometime in the last 8 days, not including today. In other words, the stock will have pulled back from a 20-day High some time in the last 8 days.

The PCF I wrote for this (thanks to your advice to other posters) is:

C1>=MAXH20.2 or C2>=MAXH20.3 or C3>=MAXH20.4 or C4>=MAXH20.5 or C5>=MAXH20.6 or C6>=MAXH20.7 or C7>=MAXH20.8 or C8>=MAXH20.9

Is this correct? On the charts, it seems to be. \

Thanks! 

Your formula is for the close being as high or higher than the highest high in the previous 20-bars during at least one of the prior 8-bars.

I do not know if this is what you want or not, but it does not seem to incorporate the concept of a pullback.

A formula for a 20-bar high happening during one of the prior 8-bars with all of the highs since being below this high could be written as:

(H < H1 AND H1 = MAXH20.1) OR (MAXH2 < H2 AND H2 = MAXH20.2) OR (MAXH3 < H3 AND H3 = MAXH20.3) OR (MAXH4 < H4 AND H4 = MAXH20.4) OR (MAXH5 < H5 AND H5 = MAXH20.5) OR (MAXH6 < H6 AND H6 = MAXH20.6) OR (MAXH7 < H7 AND H7 = MAXH20.7) OR (MAXH8 < H8 AND H8 = MAXH20.8)

Wow! Thanks for the lightening fast turnaround, Bruce.

Your description is correct, so your formula should also be what I need. 

Landry's idea is that the stock has been trending for 20 days, but has fallen from its high sometime during the last 8 days, not including the most recent close. That means that the stock has pulled back from the 20-day high sometime during those 8 days, even if only the very last close. Longer than 8 days, according to Landry, may be a correction and not a pullback.

The result of the scan (along with his other conditions) should be a selection of stocks that have done well during the last month or so, but have recently fallen from the swing high... that is, pulled back from a strong trend.

Thanks for the PCF! Worden really should catalog all your work over the years. You've produced a vast number of PCFs and are no doubt a bit weary of doing them over again or referencing them because users haven't found them it the discussion boards. There's a wiki wating to be born, I'm sure.

Hi Bruce,

Why do I get the error message "argument missing near =" on entering  this formula in tc2000.com? It works fine in tc2007.

I can only assume you did not paste the entire formula.  I just pasted this into TC2000.com v12 and it's working fine.

(H < H1 AND H1 = MAXH20.1) OR (MAXH2 < H2 AND H2 = MAXH20.2) OR (MAXH3 < H3 AND H3 = MAXH20.3) OR (MAXH4 < H4 AND H4 = MAXH20.4) OR (MAXH5 < H5 AND H5 = MAXH20.5) OR (MAXH6 < H6 AND H6 = MAXH20.6) OR (MAXH7 < H7 AND H7 = MAXH20.7) OR (MAXH8 < H8 AND H8 = MAXH20.8)

That's strange because copy/paste does not seem to work in my TC2000.com. It will in TC2007 and I am able to copy/paste the formula from TC2007 to MS Word. Any thoughts?

You will need to use ctrl-v to paste something into TC2000 version 12.1.

Works great, thank you so much.

In tc2000, I would like to see a % True indicator consisting of the subject formula applied to my custom indicator: MAX(OBV,20) - OBV . In my attempts, the % True indicator acts on price, not my indicator, even though I click on the + in the custom formula line.

Can it be done?

A Custom PCF % True Indicator acts on the formula itself as it written.

Since the following Condition Formula does not contain references to OBV or MAX(OBV,20) - OBV, it will be based on price and not OBV or MAX(OBV,20) - OBV:

(H < H1 AND H1 = MAXH20.1) OR (MAXH2 < H2 AND H2 = MAXH20.2) OR (MAXH3 < H3 AND H3 = MAXH20.3) OR (MAXH4 < H4 AND H4 = MAXH20.4) OR (MAXH5 < H5 AND H5 = MAXH20.5) OR (MAXH6 < H6 AND H6 = MAXH20.6) OR (MAXH7 < H7 AND H7 = MAXH20.7) OR (MAXH8 < H8 AND H8 = MAXH20.8)

While it would be possible to substitute OBV for price in the above formula:

(OBV < OBV1.1 AND OBV1.1 = MAX(OBV1.1,20)) OR (MAX(OBV,2) < OBV1.2 AND OBV1.2 = MAX(OBV1.2,20)) OR (MAX(OBV,3) < OBV1.3 AND OBV1.3 = MAX(OBV1.3,20)) OR (MAX(OBV,4) < OBV1.4 AND OBV1.4 = MAX(OBV1.4,20)) OR (MAX(OBV,4) < OBV1.5 AND OBV1.5 = MAX(OBV1.5,20)) OR (MAX(OBV,6) < OBV1.6 AND OBV1.6 = MAX(OBV1.6,20)) OR (MAX(OBV,7) < OBV1.7 AND OBV1.7 = MAX(OBV1.7,20)) OR (MAX(OBV,8) < OBV1.8 AND OBV1.8 = MAX(OBV1.8,20))

I do not know of a way to substitute MAX(OBV,20) - OBV for price into the formula which would create a formula short enough to be practical however.

The MAX() function cannot take formulas or other functions as arguments. While it would be theoretically possible to manually expand all of the MAX() functions required using the technique given in the Min Max PCFs topic, the resulting formula would be to long and slow to be practical or for me to post in the forums.

Hi Bruce,

Can you help with A formula for a 20-bar low happening during one of the prior 8-bars with all of the lows

In this April, you helped with the HIGHs as below, now can you help with LOWs.

Really appreciate your help !

(H < H1 AND H1 = MAXH20.1) OR (MAXH2 < H2 AND H2 = MAXH20.2) OR (MAXH3 < H3 AND H3 = MAXH20.3) OR (MAXH4 < H4 AND H4 = MAXH20.4) OR (MAXH5 < H5 AND H5 = MAXH20.5) OR (MAXH6 < H6 AND H6 = MAXH20.6) OR (MAXH7 < H7 AND H7 = MAXH20.7) OR (MAXH8 < H8 AND H8 = MAXH20.8)

Inverting the 20-bar high formula into a 20-bar low formula would result in the following:

(L > L1 AND L1 = MINL20.1) OR (MINL2 > L2 AND L2 = MINL20.2) OR (MINL3 > L3 AND L3 = MINL20.3) OR (MINL4 > L4 AND L4 = MINL20.4) OR (MINL5 > L5 AND L5 = MINL20.5) OR (MINL6 > L6 AND L6 = MINL20.6) OR (MINL7 > L7 AND L7 = MINL20.7) OR (MINL8 > L8 AND L8 = MINL20.8)