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Registered User
Joined: 7/10/2005
Posts: 13
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I am needing help writing a PCF for an idea that I borrowed. I was wanting a PCF that would scan for stocks with liquid options that have traded down at least 7 days in a row followed by a form of a 'doji candlestick' at the bottom. Then I could check the put-to-call ratio at that point and if it is above a '3' then I would have a good contrarian play to go long with call options. As a point of fact this is this basic premise for one of the (removed by Moderator) pay advisory services. I appreciate your customer service help, Bruce et.al.
Idoc
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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For down 7 days in a row, use this:
(C<C1) AND (C1<C2) AND (C2<C3) AND (C3<C4) AND (C4<C5) AND (C5<C6) AND (C6<C7)
This is very restrictive, though. If any day in the last seven are not a down day does it automatically drop from contention? I would cosider using this PCF:
((C<C1) + (C1<C2) + (C2<C3) + (C3<C4) + (C4<C5) + (C5<C6) + (C6<C7) + (C7<C8) + (C8<C9) + (C9<C10))*(-1)
This will return the number of down days in the last 10 trading days. You can set this as high or as low as you like in EasyScan OR it makes a nifty sort.
Here is video you might like on doji's
Scanning for Dojis followed by gaps with Candlestick PCFs
Here are some videos on PCFs and EasyScan
How to create a Personal Criteria Forumula (PCF)
Using EasyScan to find stocks that meet your own criteria
- Craig
Here to Help!
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Registered User
Joined: 7/10/2005
Posts: 13
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Dear Craig S.
Thank you for the PCF formula for the 7 down days in a row. I am having trouble setting the easy scan criteria for the doji at the end of the down days.
I was watching the video that you recommended and I am unable to open the library and search for the "open vs.close" and the "high vs. low yesterday", that I need to fufill my easy scan.
Also on the second PCF formula that you recommended, that wasn't as restrictive, the "+" signs, are they supposed to be the word "AND" or just the plus sign. Sorry if this seems a dumb question but every other PCF formula I have seen they are "AND".
Thank you once again,
Idoc
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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You must create these PCF's in your TeleChart:
High vs. Low Yesterday
H1/L1
Open vs. Close Yesterday
O1/C1
In Craig's PCF's above, when you see the +, it really is the + sign and not the word AND.
- Doug
Teaching Online!
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Registered User
Joined: 7/10/2005
Posts: 13
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Bruce, I'm sorry I am not following your instructions. I have imputed the said PCF's but I was having trouble setting/finding the easy scan criteria for the doji portion in the library of options. Or should I just add what you listed into the end of the PCF. Sorry to be obtuse but I am new to this.
Idoc
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You need to create an EasyScan containing one of Craig's Personal Criteria Formulas and both of Doug's PCFs. The two options would be:
EasyScan Conditions:
-Down 7 Days in a Row: True
-High vs. Low: Value: 1 to 1
-Open vs. Close: Value: 1.01 to Max
or
EasyScan Conditions:
-Down Days: Value: 7 to Max
-High vs. Low: Value: 1 to 1
-Open vs. Close: Value: 1.01 to Max
You can adjust these conditions a bit to fit your needs and the available values (1.01 might not be available when setting up Open vs. Close, but you will want something slightly greater than 1) when setting up the EasyScan. You will probably want to view the videos Craig mentioned before setting this up.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 7/10/2005
Posts: 13
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Bruce,
I have been trying to follow the video instrution that Craig suggested, but in setting up the easy scan criteria I have not been able to find the Open vs. close setting nor the high vs. low yesterday option that they show the search results for in the video.
Idoc
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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As Doug indicated, you will need to create these Personal Criteria Formula settings yourself:
High vs. Low:
H1/L1
Open vs. Close:
O1/C1
One of the videos Craig mentioned shows how to create and update PCFs.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 7/10/2005
Posts: 13
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Bruce,
I have written the PCF's as directed. But I am trying to set up the easy scans as you wrote. The easy scan library is not working for me. I am typing in open to search the open vs. close, and also high to search for the high vs. low yesterday but they are not yielding the desired criteria for the easy scan
Idoc. Any suggestions.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Let us start from the beginnning.
Step #1
Create the two PCFs and name them.
High vs. Low:
H1/L1
Open vs. Close:
O1/C1
To be sure you are doing this step correctly please watch this video:
How to create a Personal Criteria Forumula (PCF)
Step #2
Create an EasyScan with the conditions.
When you click on ADD NEW CONDITION you will see the PCFs you just created and calculated on the list as you named them. Please watch this video to be sure you are doing this step correctly:
Using EasyScan to find stocks that meet your own criteria
Report back here if this is not working. PLEASE watch both videos.
- Craig
Here to Help!
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Let's check a couple of things. Are the Personal Criteria Formulas in the system?
Select Personal Criteria Forumalas (fx).
Are the PCFs there?
Are Personal Criteria Formulas updated?
Select Databank | Personal Criteria Formulas | Update All Criteria.
If both of the PCFs are in the system and updated, try scrolling through the list in the EasyScan window instead of typing the names.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 7/10/2005
Posts: 13
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Dear Bruce and Craig,
Thank you, one mystery solved. I was not adding the PCF's seperately for the high vs. low and the open vs. close. I incorrectly added them all in the same PCF for the 7 down days. Now, the problem is all the scans are giving me 7 "up" days. Are the signs backward in the previously listed post? Also, now I can find in the library the correct PCF's for the high vs. low and the open vs. close for the doji portion, but after watching each video several times, I can't get the value meter to look the same as the one they show, to get the proper doji formation.
As always,
Thank you
Idoc
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Idoc,
I corrected the original post, if you recopy the formulas they should now produce the correct results. What is different about the rangefinder?
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 7/10/2005
Posts: 13
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Bruce,
Thank you for correcting the seven down day formula. I think I have finally imputed everything correctly, including using the rangefinder for the values of the doji. The rangefinder didn't appear exactly the same but I think it worked correctly. On last request, can you give me the PCF for a "gap up" and "gap down".
Thank you,
Idoc
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You don't need formulas for Gap Up and Gap Down. There is already a System Criteria called Gappers that you can add to EasyScans. You may choose either Gap Up, Gap Down or both. You may also sort by Gappers.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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