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Registered User
Joined: 10/7/2004
Posts: 794
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How would I create a scan from the following which calls for 1) price exceeds the upper (gold) five-period moving average of the daily highs by five ticks (0.05),
TC2000: DECEMBER 2013 TRADERS’ TIPS CODE
This Traders’ Tip is for TC2000 version 12.4, based on Donald Pendergast’s article in this issue, “Swing Trading With Three Indicators.”
You can combine TC2000.com’s charting, scanning, and alerting features to apply the swing trading method discussed in Pendergast’s article.
Figure 9 shows the results of a scan applied to the Russell 1000 components to find stocks where: 1) price exceeds the upper (gold) five-period moving average of the daily highs by five ticks (0.05), and 2) the price bar prior to the break of the upper moving average has closed above the (blue) 50-day exponential moving average of price. One of the stocks passing this scan is Dow Chemical (DOW).
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Registered User
Joined: 10/7/2004
Posts: 794
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how would I create this scan?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You would use the following Condition Formula as an EasyScan Condition.
C >= AVGH5 + .05 AND C1 > XAVGC50.1
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: 10/7/2004
Posts: 794
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So the .05 in formula would require setting chart at ticks? I thought that represented cents.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I know you are thinking of the tick time frame, but that is not is what is meant in the article.
Ticks are cents when referring to symbols priced in dollars. So 5 ticks would be $0.05.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/7/2004
Posts: 794
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Thank you Bruce! Yes you are correct I was thinking "ticks".
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Registered User
Joined: 3/6/2011
Posts: 4
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Hi Bruce,
How could I create those indicators:
1. Five-period moving average of the daily highs
2. Five-period moving average of the daily low
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Add moving average indicators to price and then click on them and select Edit.
You will want to set the period of both indicators to 5, but you will set Average of in one indicator to High and Average of in the other indicator to Low.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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