Registered User
Joined: 8/5/2005
Posts: 18
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Hi guys,
I'm new and on a 30 day trial. I've been hitting the videos and trying to learn as much as I can about TC. Here's the thing though, many times, as I'm watching the video and switching to the software to try it out for myself, I find that I can't because menu choices simply arent there.
Here's what I mean:
Constructing more versatile and reusable Personal Criteria Formulas
In this video covering PCFs, there is mention of V>V1 and V-V1. But they are NOT in the software that I downloaded! I noticed that they are from Nov 2004, so has the software changed and the training vids not been updated? For a newbie it is VERY confusing.
Thanks very much in advance :o)
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Sorry for the confusion, Ketracel. The two PCF's used in the video need to be created by you. This video is really a follow up to this one:
How to create a Personal Criteria Forumula (PCF)
This is the video that will show you how to create your own PCF's. The video you mentioned was designed to show the difference between a simple math formula and a boolean formula. In the video, I didn't teach how to create those two formulas, because how to create formulas is taught in the video I've listed here.
Watch this video, and I think it will become clear to you.
- Doug
Teaching Online!
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Registered User
Joined: 8/5/2005
Posts: 18
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Thanks Doug.
As my first PCF I'm trying out this one:
V > (AVGV50 * 1.5) AND C > AVGC21 AND AVGC21 > AVGC50 AND AVGC50 > AVGC150 AND AVGV63 > 50000 AND C > 1.5 AND C < 20
Yet, I'm getting stocks which are below their 150 day MA!
This should not be possible because what I'm trying to do is to find uptrending stocks. Here is my reasoning for the foruma:
volume must be above 1.5 times the average 50 day volume
close above the 21 day MA
21 day MA above the 50 day MA
50 day MA above 150 day MA
average volume of past 3 months (63 days) above 50000
and price between 1.5 and $20
I should be getting a handful of stocks but I'm getting 6944!!
I'm looking at all stocks in my universe then sorted by this PCF.
Any help appreciated.
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Administration
Joined: 9/30/2004
Posts: 9,187
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The list will still return all 6944 stocks since it's a sort, not a filter. The ones that meet the criteria will say True in the Sort Value column. I just calculated your PCF and came up with 0 stocks returning True.
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Registered User
Joined: 8/5/2005
Posts: 18
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Aaaah, ok.
a sort, not a filter. I'm new at this so I didn't make the distinction. Thanks for pointing that out.
so what is the difference and how are they each calculated?
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Administration
Joined: 9/30/2004
Posts: 9,187
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Calculated the same, but if you select it as a Sort criteria below the WatchList, the value or result of the PCF will be displayed in the Sort Value column. For True/False type PCFs, the Sort Value will read True, but the symbols that return False will still be displayed.
If you use the PCF as an EasyScan criteria, it acts like a filter and symbols that do not return True will be eliminated from the scan results.
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Registered User
Joined: 8/5/2005
Posts: 18
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ok, so I did an easy scan of all stocks and added the condition of that PCF. Then I got an edit condition window with the following choices: value, market rank, list rank
I'm confused, there is nothing to 'rank' its a formula
why isn't it applying it to the all stock universe and then filtering out what remains?
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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If your PCF is boolean (returns a true or false) you should not get the range selector. The condition should just show as a scan condition, and only stocks returning True will wind up in the EasyScan watchlist.
Check to make sure your PCF is boolean (uses things like >, <, =, AND, OR)
- Doug
Teaching Online!
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Registered User
Joined: 8/5/2005
Posts: 18
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Doug,
as I mentioned above, my PCF is:
V > (AVGV50 * 1.5) AND C > AVGC21 AND AVGC21 > AVGC50 AND AVGC50 > AVGC150 AND AVGV63 > 50000 AND C > 1.5 AND C < 20
As you can see, it is boolean (it has a lot of <> and ANDs  )
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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I copied and pasted your PCF into my TeleChart. I updated my PCF's. Then I used the PCF as a condition in a new EasyScan. I did not get the edit condition box. It just listed the PCF as my scan condition with the word True after it. Just for the record, there were zero true for that condition...the same result that StockGuy got earlier today.
If you are getting the edit condition window when you add this PCF to an EasyScan, you are having some sort of technical issue that will have to be dealt with by our technical support staff. Before you call them, pleas double check that you are not mistakenly adding a condition with a very similar name as the name you gave your PCF. It could be that you think you're adding your PCF as a scan condition, but in reality you're adding a mathematical condition with a very similar name. If you're sure that's not it, please contact tech support. They can be reached as follows:
support@worden.com
(919)408-0542
M-F 9AM-9PM EDT
Sat 9AM-3PM EDT
- Doug
Teaching Online!
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Administration
Joined: 9/30/2004
Posts: 9,187
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When I tested it earlier today there was no range selector. Not sure why you're seeing this.
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Registered User
Joined: 8/5/2005
Posts: 18
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unless I'm mistaken ALY (as well as other stocks - but lets just use it as an example) meets all of the criteria:
It is above all moving averages (21, 50 and 150)
And each moving average is above the previous
Its average volume is above 50,000
Its volume is 1.5 times or more than its 3 month average
Its price is between 1.50 and 20
Am I mistaken?
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Here are the test results for your PCF based on ALY as the test symbol:
5095.00 > (598.58 * 1.50) AND 12.12 > 7.82 AND 7.82 > 6.30 AND 6.30 > 5.17 AND 493.30 > 50000.00 AND 12.12 > 1.50 AND 12.12 < 20.00
As you can see, neither of your volume conditions are true. Incidentally, to express 50,000 shares in a PCF, use the number 500, since volume is expressed in hundreds. Also, 3 month average volume would be AVGV63 not AVGV50.
- Doug
Teaching Online!
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Registered User
Joined: 8/5/2005
Posts: 18
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Guys, I think I know what the problem is. I don't really understand why, but I'll try to explain.
I'm using the conditions window rather than the formula (all strung together) and I've changed things by exluding one of the components.
ok, here's what I mean, I made a pcf for each element
one for price above 21 day MA
another for 21 MA > 50 day MA
(etc... you get the point, right?)
ok, then I went to the conditions window and added these pcf's that I had made.
but here's the thing I noticed, once I add the average volume of the past X days is above 50,000 I get a return of ZERO
If I leave this out, I get 146
But this is weird since I know for a fact that many of the securities in the 146 returned have avg volume above 50,000 (I used 42 and 63 days). In fact most of them do!
So far I've given up and sorted them according to volume inside my watchlist window and just scroll down to the 'level' of average volume that I want. I hope that's clear.
This is ok for now but I would really like to know why adding such a condition returns ZERO. Am I doing something wrong?
I write down in this pcf: AVGV42 > 50000 OR AVG63 > 50000
Is this incorrect?!?! Am I missing something?
Thanks for your patience and help guys. Its much appreciated...this is a steep learning curve but I feel that I'm getting the hang of it.
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Registered User
Joined: 8/5/2005
Posts: 18
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Doug,
Thank you !! That's what I was doing wrong.
(incidentally I was busy writing that previous post and didn't see your message until now)
So the nomenclatur for volume is 500 as it is expressed in units of 100s. Geez, no one told me that before. How am I supposed to know?! 
And you're right, 3 months is 63 not 50. I used the 50 as a spike measurement (atleat 50% above 50 day avg but then I used 63 when it came to the 50,000 volume - its above). A bit of a hodge podge but I'm getting there.
The important thing is that I learned something. Volume is expressed in 100s. So 1 million shares of volume would be 10,000 (without the commas - right? I assume the formula doesn't like commas)
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Here's the definition of Volume in the Help File (all of the sort and scan conditions are defined there):
Volume 1-Day
Number of shares traded for the most recent market day. Value given in 100s.
No commas, and yes...1 million shares would be 10000.
Glad we were able to help you get it all figured out. And by the way, creating smaller PCF's like that is really the better way to go. The smaller pieces you created can now be mixed and matched later on.
- Doug
Teaching Online!
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