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Registered User
Joined: 10/10/2007
Posts: 5
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I would like to scan on 5 day charts the following please;1) 2no. pinbars candlesticks, with the bottoms within 10% price range of each other, in 6 or less periods (5 day periods)(Generally near support level)2) 2no. hangman candlesticks, with the tops within 10% price range of each other, in 6 or less periods (5 day periods) (Generally near resistance level).Thankyou.Regards,Paul Magnus (Rhodrons)
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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What does "2no." mean?
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/10/2007
Posts: 5
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Bruce, 2no. means; two pinsbar candlesticks in item (1) and two hangman candlesticks in item (2) Regards, Paul.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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We are probably going to have to adjust this based on your particular unambiguous objective definitions of pinbars and hangman candlesticks and support. I'm not a candlestick guy (at all), and the website I found defining them using exactly the same definition for both. One tail is extended beyond the surrounding price action and more than twice the length of the body while the other tail is smaller or even non-existent.
Since you are looking for the bottoms to be near support (which we will also probably want to define objectively), I'm guessing you want the extended tail sticking down (but could obviously be wrong since I'm just basing it on the examples given on the various websites I visited).
It should be noted that neither version of TC2000 has a Time Frame named 5-Day. Both programs have a Time Frame named Weekly. In TC2000 version 7, this is a rolling 5-Trading Day Bar. In TC2000 version 12, this is a calendar week based bar.
Since you can't get a 5-day bar in TC2000 version 12, the Personal Criteria Formula will be for the weekly bar in TC2000 version 7.
Depending on your specific unambiguous objective definitions of pinbar, hangman and support, a formula may or may not be short enough to be practical. For example if we were to just check for the low of 1-Bar Ago and 3-Bars Ago to be below all the other bars, for the lower tail of 1-Bar Ago and 3-Bars Ago to be more than twice their body length and for the lows of 1-Bar Ago and 3-Bars Ago to be within 10% of the total 6-Bar Range of each other we would get:
MINL5.5 < MINL5 AND MINL5.5 < MINL5.10 AND MINL5 < MINL10.20 AND O9 - MINL5.5 > 2 * ABS(O9 - C5) AND C5 - MINL5.5 > 2 * ABS(O9 - C5) AND MINL5.15 < MINL5 AND MINL5.15 < MINL5.10 AND MIN5.15 < MINL10.20 AND O19 - MINL5.15 > 2 * ABS(O19 - C15) AND C15 - MINl5.5 > 2 * ABS(O9 - C5) AND ABS(MINL5.5 - MINL5.15) <= .1 * (MAXH30 - MINL30)
And this simplified case would need to repeated 15 times to check for all possible combinations.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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