Registered User
Joined: 10/20/2012
Posts: 68
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Hello
How can I make this scan for trend bars?
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A n ideal trend bar is one with a moderate-size body, indicating that the market trended away from the open of the bar by the time the bar closed. The minimum is a close above the open in a bull trend bar, indicated by a white candle body in this book. The bulls can demonstrate stronger control by having the body be about the size or larger than that of the median body size over the past 5 or 10 bars. Additional signs of strength include the open being on or near the low, the close on or near the high, the close at or above the closes and highs of several prior bars, the high above the high of one or more prior bars, and the tails being small. If the bar is very large, it might represent exhaustion or a one bar false breakout that is trapping new bulls, only to reverse down in the next bar or two. The opposite is true for bear trend bars. |
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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QUOTE (levalencia) The minimum is a close above the open in a bull trend bar, indicated by a white candle body in this book.
C > O
QUOTE (levalencia) The bulls can demonstrate stronger control by having the body be about the size or larger than that of the median body size over the past 5 or 10 bars.
SGN(H - L - H1 + L1) + SGN(H - L - H2 + L2) + SGN(H - L - H3 + L3) + SGN(H - L - H4 + L4) + SGN(H - L - H5 + L5) + SGN(H - L - H6 + L6) + SGN(H - L - H7 + L7) + SGN(H - L - H8 + L8) + SGN(H - L - H9 + L9) + SGN(H - L - H10 + L10) >= 0
QUOTE (levalencia) Additional signs of strength include the open being on or near the low...
Within 5% of the range of the candle would be:
O - L <= .05 * (H - L)
QUOTE (levalencia) ...the close on or near the high...
Within 5% of the range of the candle would be:
H - C <= .05 * (H - L)
QUOTE (levalencia) ...the close at or above the closes and highs of several prior bars...
If we mean 3 by several:
C > MAXH3.1
QUOTE (levalencia) ...the high above the high of one or more prior bars...
Note that the last additional sign is a stronger version of this:
H > H1
QUOTE (levalencia) ...and the tails being small.
Having the total length of the tails be less than 5% of the entire candle or less would be:
H - C + O - L <= .05 * (H - L)
You can combine various requirements by creating individual Condition Formulas and including them in the EasyScan or by creating a single Condition Formulas connecting all of the various requirements using AND.
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!
-Bruce
Personal Criteria Formulas
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