Registered User Joined: 3/30/2012 Posts: 21
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Hi Bruce
I want to find stocks which are trading at say
1. 5% below lower band of Envelope
2. 5% above higher band of Envelope
Thanks
Regards
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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We would need to know the exact settings of your Envelope Channel to help you create a Condition Formula for this.
- Period: ?
- Std Dev: ?
- Average Type: Simple, Exponential or Front Weighted?
An Envelope Channel in TC2000 version 12.2 is just a central Moving Average plus or minus a percentage of that Moving Average. The "Std Dev" setting is the percentage used to calculate how far above and below the Moving Average to plot the Envelope Channels.
Let's say you had the following settings:
- Period: 50
- Std Dev: 10.00
- Average Type: Simple
A Condition Formula for Price being at least 5% below the Lower Band would be:
Personal Criteria Formula Conditions
C <= .95 * .9 * AVGC50
Or:
C <= .885 * AVGC50
A Condition Formula for Price being at least 5% above the Upper Band would be:
C >= 1.05 * 1.1 * AVGC50
Or:
C >= 1.115 * AVGC50
Since the resulting values end up being 11.5% above or below the central Moving Average, this means we could also just create another Envelope Channel with the following settings:
- Period: 50
- Std Dev: 11.50
- Average Type: Simple
And then click on Price History and select Price History vs this new Envelope Channel to create a Condition for Price being Above Chan Top or Below Chan Bottom instead.
Creating Scan and Sort Conditions
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 3/30/2012 Posts: 21
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Thank you.
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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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