Hello Bruce

Julia O suggested I contact you about a PCF.  Martha Stokes tells us Quiet Accumulation can be identified in BOP.  Alternating clusters of green-grey-green bars is a good clue that QA and/or Dark Pools are at work.

Can you construct a PCF that identifies this pattern change in BOP over recent days/weeks?  I can experiment with the number of bars in the green & grey bars if you put a handle on that in PCF.  Obviously, I want the scan to start with most recent bar and include those symbols that are TRUE over past few weeks.

Thanks

Jim Denneny

user K7EG

(email address removed by moderator)

I don't gave any grey bars in my Balance of Power indicator. I have red, yellow and green bars. I'm going to assume you have change yellow to grey in for BOP in your copy of TC2000. I'm also going to assume from your description that you don't want any red bars during the period in question. Let's use 20-bars as this would be about four weeks on a daily chart.

Checking for all of those bars to be grey or green would be:

MIN(BOP,20) >= (-30)

We would then want to divide the period into relatively equal segments and check that BOP is both grey and green in each of those segments. If we were to divide this into just two segments we would get:

MIN(BOP,20) >= (-30) AND MIN(BOP,10) <= 30 AND MAX(BOP,10) > 30 AND MIN(BOP1.10,10) <= 30 AND MAX(BOP1.10,10) > 30

If we were to divide this into four segments we would get:

MIN(BOP,20) >= (-30) AND MIN(BOP,5) <= 30 AND MAX(BOP,5) > 30 AND MIN(BOP1.5,5) <= 30 AND MAX(BOP1.5,5) > 30 AND MIN(BOP1.10,5) <= 30 AND MAX(BOP1.10,5) > 30 AND MIN(BOP1.15,5) <= 30 AND MAX(BOP1.15,5) > 30

And if we were to divide this into five segments we would get:

MIN(BOP,20) >= (-30) AND MIN(BOP,4) <= 30 AND MAX(BOP,4) > 30 AND MIN(BOP1.4,4) <= 30 AND MIN(BOP1.4,4) > 30 AND MIN(BOP1.8,4) <= 30 AND MIN(BOP1.8,4) > 30 AND MIN(BOP1.12,4) <= 30 AND MIN(BOP1.12,4) > 30 AND MIN(BOP1.16,4) <= 30 AND MIN(BOP1.16,4) > 30

We can use the same technique with any number of bars and any number of segments depending on the desired overall period and granularity of the clusters desired.

Thanks Bruce.  That shows the right formations within BOP.   Now, can you possibly create a PCF that shows Price in a narrow platform for say >/= last 6 bars?   I will let you set the peak to peak amplitude of the platform.  We are looking at reasonably tight platform that is flat. If so, I will add the condition to the BOP PCF and see what happens?

Jim Denneny

I can't decide the parameters to use for you.

If you want the high to be within a certain percentage of the low over the most recent 6-bars you could use something like the following (which is for 1%):

MAXH6 <= 1.01 * MINL6

If you want the high to be within a certain dollar value of the low over the most recent 6-bars you could use something like the following (which is for $0.10):

MAXH6 <= MINL6 + .1

If you want the range over the most recent 6-bars to be below a certain percentage of the range over the most recent 100-bars you could use something like the following (which is for 10%):

MAXH6 - MINL6 <= .1 * (MAXH100 - MINL100)

There are lots of other possibilities as well, but what you are looking for is up to you. I can only help you with implementing your specific unambiguous objective definitions using our products, I can't help you come up with the definition you want to use.

Good morning, I copied and pasted the quiet accumulation formula above into new condition formula. What else do I need to do, or have I placed in the wrong area. Thanks Jim

You can do whatever you want with Condition once it is created and saved. It should work like any other Condition. You could select Add Column and choose it from the list to use it as a WatchList Column and/or sort.

Adding & Editing WatchList Columns

You could select Add Condition while creating an EasyScan to use it as an EasyScan Condition.

Building a Scan with Multiple Conditions

You could even select Add Indicator and choose Custom PCF % True Indicator to use the Condition Formula as the Boolean Formula in a Custom PCF % True Indicator to plot the results on the chart. This is not done from the save Condition Formula however. You would need to enter the formula again into the indicator.