Fchart Formula

[rhimadri]

hi

Himadriji

I'm a new to Fcharts and wud like to learn this s/w

I was watching ur from last few days, could u pls explainn stepwise, how to enter a formula into FC and how to display the indicator on the cart nad is it possible to scn the stocks for a specific formula.

waiting for ur reply

thanx

ds2778

I am explaining below on writing formula in Fchart:-

At the end of main chart two buttons are there (1) & (2) parallel to drawing button. First left click mouse button on either (1) or (2) then click write formula. A formula entry window will pop up. If you are writing formula for Buy signal, then in Formula Name Box write Buy 1, below the next box write short name of formula (like if your formula is based on MACD , you just write MACD. Tick mark 1 and in the last box you write formula and click ok. In this way your formula for (1) is saved. Now you write formula for sell signal for (2) in the same procedure i.e add selected button in formula name box write Sell 2, next box MACD, tick mark 2 and write formula in the last box. When you want to write another set of formula, please remember to write Buy 2 in formula name for buy signal and Sell 2 for sell signal and so on. You will not be able to scan formula in Fchart Se version.

Now if you are trying to plot indicators on main chart. Just right click on main chart and click quick select overlays. Overlay selection window will pop up. In the left side available indicators will be showing.. Now select what are the indicators you want to plot on main chart, like ema1, sma1, select and press add selected button. Now the selected indicators will be shifted in the right window. Tick mark apply changes immediately and enable multiple overlays Press apply and press ok Now all the selected indicators will be displayed on main chart.

While using any software, please go through the help file in details. However if you require any assistance in configuring your parameters, please write in details.

Cheers

Himadri

 

[slah04]

I take this priviledge to inform all members of this forum who are using Fchart that Fcharts are also widely used all over the world alongwith other softwares like Metastock, Advanced get, Amobroker etc. I felt it necessary to open a new thred for Fchart users where they can have discussions specifically on Fchart rather than posting it all over the forum. I sent a request to "Traderji" who has kindly considered my request and allowed me to open the thred for Fchart in software catagory. I have been using Fchart Pro for last six years. In this forum I would be happy to to share my experience with all Fchart users.

In compliement of the above forum I am giving below the formula for "Inside Bar" in Fchart:-

Day traders will look forward for a stock which has made inside trading bar in last trading day to find out next days decissive move. Here is a formula for Inside Bar (((H < H[1], (H = H[1], (H - H[1] < 2)), (OR (L > L[1], L = L[1], (C[1] - C) < 2))))). Put the formula in UDI. When its value is -1.0, its a inside Bar, otherwise its value is always 0. To scan inside bar put formula UDI = -1.0 and LastDayOnly = true and find out which are the stocks have formed inside bar in last trading day.

Cheers

Himadri:

Dear Himadriji

Reference to your above formula, what is "Inside Bar"?

(((H < H[1], (H = H[1], (H-H[1] < 2))... the formula written inside the paranthesis Is this an AND logic or an IF logic?

Shall be grateful if you kindly explain the formula too

Thks

 

[rhimadri]

Dear Himadriji

Reference to your above formula, what is "Inside Bar"?

(((H < H[1], (H = H[1], (H-H[1] < 2))... the formula written inside the paranthesis Is this an AND logic or an IF logic?

Shall be grateful if you kindly explain the formula too

Thks

An Inside Bar indicates a possible reversal of the current downtrend to a new up trend or current up trend to a new down trend. This pattern is an indication of a short term outlook. Often the immediate effect is trend exhaustion and potentially, a reversal. For traders looking for clear entry and exit points, these patterns serve well. They are normally not suitable as signals for long-term investors unless viewed as monthly bars.
An Inside Bar is a reversal formation characterized by a bar that forms totally within the trading range of the preceding bar. Inside Bars reflect a balance between buyers and sellers following a sharp up or down move.
Inside Bars can be either Bullish or Bearish depending on the direction of the inbound trend. If the inbound price trend is up, then upon identification of an Inside Bar, taking a short position or selling a long position is recommended. Conversely, if the inbound price trend is down, then upon identification of an Inside Bar, taking a long position or closing a short position is recommended. Look for confirmation in a trend-line break.
The degree that the price bars and volume characteristics match this description will likely have a bearing on the strength of the post pattern price movement. The smaller the second bar relative to the broader range of the first bar, the more dramatic the change in the buyer/seller balance and therefore the stronger the signal. Volume on the inside bar should be noticeably smaller than that of the preceding bar since it indicates a more balanced situation.
An Inside Bar indicates a balancing of sentiment between buyers and sellers after a sustained up or down move. On the Inside Bar's second day, especially with a drop in volume, we are seeing a drop off of interest in this instrument. This balancing usually leads to a period of sideways price movement, but a reversal is possible.
Formula written inside the parentheses is a combination of IF and AND logic to support condition of Inside Bar. Hope I have been able to explain the logic of Inside Bar.

Cheers

Himadri

 

[slah04]

Thks for explaining the same so lucidly!

 

[slah04]

Dear Himadriji

Any formula available for capturing Pivot Highs & Pivot Lows?


Regards

 

[rhimadri]

Dear Himadriji

Any formula available for capturing Pivot Highs & Pivot Lows?


Regards

It is already available in this thread as "zig zag swing" by which you can find Pivot high & Pivot low based on highest high and lowest low parameters. However if you want to find out pivot high or pivot low based on closing prices, please put close instead of high and low in the formula for both condition 1 & 2. Hope the same will serve the purpose.

Cheers

Himadri

 

[slah04]

Thanks again

 

[rbhapkar]

Hi Himadri
Can I request you to code the following for FCharts SE edition...
I've taken this formula from another software (I'm not a technical person...am new to this field...But am trying to understand things by reading this forum). I've found this formula somewhat more indicatve than others...
Also please check and revert if this will work for Intraday...
IF STO%K >= STO%D
THEN GO LONG
ELSE
IF STO%K <= STO%D
OR C(t)-BUY_PR < - BUY_PR*p/100
THEN GO SHORT
where STO%K is %K fast stochastic oscillator;
STO%D is %D fast stochastic oscillator;
C(t) - closing price; p - percentage loss
BUY_PR last buying price;

warm regards...rajesh bhapkar
*******************************************************

Fchart Se version does not have stochastic oscillators. So any formula based on on the above parameters will not support in SE version.

Himadri

Dear Himadri,
I've upgraded to the trial version for 7 days as I've found this software pretty easy to understand for a novice like me and hence want to test the same. I had requested for the above mentioned formulae to be coded for CONDITION 1 AND 2.
Can you please code and revert....also pls revert whether it would work for intraday....
warm regards...rajesh bhapkar

 

[rhimadri]

Hi Himadri
Can I request you to code the following for FCharts SE edition...
I've taken this formula from another software (I'm not a technical person...am new to this field...But am trying to understand things by reading this forum). I've found this formula somewhat more indicatve than others...
Also please check and revert if this will work for Intraday...
IF STO%K >= STO%D
THEN GO LONG
ELSE
IF STO%K <= STO%D
OR C(t)-BUY_PR < - BUY_PR*p/100
THEN GO SHORT
where STO%K is %K fast stochastic oscillator;
STO%D is %D fast stochastic oscillator;
C(t) - closing price; p - percentage loss
BUY_PR last buying price;

warm regards...rajesh bhapkar
*******************************************************



Dear Himadri,
I've upgraded to the trial version for 7 days as I've found this software pretty easy to understand for a novice like me and hence want to test the same. I had requested for the above mentioned formulae to be coded for CONDITION 1 AND 2.
Can you please code and revert....also pls revert whether it would work for intraday....
warm regards...rajesh bhapkar

Formula based on fast stochastic will give you very frequent signals which may not be suitable for trading. However if you try with intraday 5 minutes chart, please change setting of stochastic indicator as 14 5 3 and try with the following formula based on fast stochastic:-

Condition 1 : %K > %D AND %K[1] < %D[1]

Condition 2 : %K < %D AND %K[1] > %D[1]

Himadri

 

[rbhapkar]

Formula based on fast stochastic will give you very frequent signals which may not be suitable for trading. However if you try with intraday 5 minutes chart, please change setting of stochastic indicator as 14 5 3 and try with the following formula based on fast stochastic:-

Condition 1 : %K > %D AND %K[1] < %D[1]

Condition 2 : %K < %D AND %K[1] > %D[1]

Himadri

Hey Himadriji,
YOUR SPEED IS SUPERFASSSTTTTTT....
THANKS FOR THE PROMPT REPLY....
Just one more thing...can I also know how to set the SCANNER feature for giving me the scrips which are in the BUY zone...or rather the scrips for which the BUY signal has started today i.e. after updating todays data and then using the scanner....
OR ELSE, IF U HAVE ANY OTHER SCANNER INDICATOR WHICH U'VE BEEN WORKING ON FOR SOME TIME AND HAVE FOUND IT EFFECTIVE....

Thanking you in anticipation...
warm regards...rajesh bhapkar