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Registered User
Joined: 3/21/2011
Posts: 21
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Could someone please create and post a PCF for TC2000 for the candlestick pattern - counterattack?
This is a two day pattern.
A bullish counterattack would be:
The first candlestick of this pattern is long and black. The next session gaps open sharply lower (not sure what constitutes "sharply") and ends on the close of the previous day.
A bearish counterattack would be the opposite. The first candlestick is a long white one. The next session's opening gaps higher but closes at the previous day's close.
The shadows are not of importance in this pattern.
Thanks,
Chuck
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Administration
Joined: 9/30/2004
Posts: 9,187
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I'm not sure how to define "sharply lower" either, but try this formula:
C1 < O1 and C > O and H1-L1 > AVGH21-AVGL21 AND O < L1 AND C / C1 > .995 and C / C1 < 1.005
It found 11 symbols in the US Common Stocks list and these three look exactly like what you're describing.
BCBP
CALI
LMOS
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Registered User
Joined: 3/21/2011
Posts: 21
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Thanks, that seems to work but produces several stocks that do not match the pattern.
DLBS
ONFC
are two of them. The close of the second day is above the close of the first day - not equal.
I am not very good at reading PCFs but shouldn't there be an equal sign in there someplace to say that yesterday's close and today's close is the same?
Also, can you show me the bearish formula?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The Condition Formula provided by StockGuy checks for the close of the current and previous day to be within 0.5% of each other:
C / C1 > .995 and C / C1 < 1.005
If you want them to be exactly equal, change this to:
C = C1
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: 3/21/2011
Posts: 21
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Thanks both of you. So how would the bearish formula look?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I'm only guessing, but possibly:
C1 > O1 and C < O and H1 - L1 > AVGH21 - AVGL21 AND O > H1 AND C = C1
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 3/21/2011
Posts: 21
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Thanks I will check it out.
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Administration
Joined: 9/30/2004
Posts: 9,187
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Found this definition which is why I used within 0.5%. Could have gone tighter I guess, like .25%"The 2nd candlestick must be green, it should preferably open gap down and close at almost the same level as it did the day before."If you use C=C1 you might miss some good candidates.
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Registered User
Joined: 3/21/2011
Posts: 21
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Yes, if I use C=C1 it is much more tight. I can use your formula as it stands which has some leway built into it.
Does Bruce's formula for a bearish counterattack look right to you as well?
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Administration
Joined: 9/30/2004
Posts: 9,187
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Yes, it looks correct.
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Registered User
Joined: 3/21/2011
Posts: 21
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Great, thanks!
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