HamFon's Personal Criteria Formulas for TC2000

I use TC2000 by setting up a few simple Formulas, then creating EasyScans from them. I have found it more flexible to be modular about this. For example, one of my Formulas is "Enough Volume And Price" which simply selects equities that have "enough" volume (currently I use a 50-day average volume of > 4000 (remember TC2000 counts volume in units of 100, so this really means 400,000 shares) and a Price of $5.00 per share or more.

So - why not just put these criteria directly into your EasyScans? For something like this that eliminates all stocks that are just out of range for some reason, it's better to make a Formula - because you may have made 50 EasyScans, each with Volume and Price specified, and then you decide to change one of those parameters. Instead of editing 50 different EasyScans, you can just edit the one Formula, and you're done. Here are some of the Formulas that I use.

If you'd like to submit one or more to be listed here, please email the Formula, the Name, your Name, and if you'd like to have your email linked to the Formula. If you'd like to use one of these Formulas, you can drag your mouse over it to select, then Ctrl-C to copy, create a new Formula in TC2000, and save it. I save with the submitter name as part of the name (e.g., "HamFon Enough Volume and Price") to be able to find all of mine (or someone elses) as a group.

Name: Above Average Volume
Submitted by: HamFon
Version:1.00
Purpose: Identify an equity with above average volume
Formula: V > AVGV10
Formula in English: Look for volume at least as large as the average volume of the last ten days


Name: Average True Range (5 day)
Submitted by: HamFon
Version:1.00
Purpose: Find the Average True Range (Range of bar, adjusting for gaps) of the most recent five days
Formula: (L*(L<=C1)+C1*(L>C1)-H*(H>=C1)-C1*(H<C1)+L1*(L1<=C2)+C2*(L1>C2)-H1*(H1>=C2)-C2*(H1<C2)+ L2*(L2<=C3)+C3*(L2>C3)-H2*(H2>=C3)-C3*(H2<C3)+L3*(L3<=C4)+C4*(L3>C4)-H3*(H3>=C4)-C4*(H3<C4)+ L4*(L4<=C5)+C5*(L4>C5)-H4*(H4>=C5)-C5*(H4<C5))/5
Formula in English: Find the True Range for each of the last five days by subtracting the lowest of yesterday's close and today's low from the highest of yesterday's close and today's high. Average these True Ranges.


Name: Average True Range (5 day) - alternative with no boolean calculations
Submitted by: HamFon
Version:1.01
Purpose: Find the Average True Range (Range of bar, adjusting for gaps) of the most recent five days
Formula: ( ((H+C1)+ABS(H-C1))/2 - ((L+C1)-ABS(L-C1))/2 + ((H1+C2)+ABS(H1-C2))/2 - ((L1+C2)-ABS(L1-C2))/2 + ((H2+C3)+ABS(H2-C3))/2 - ((L2+C3)-ABS(L2-C3))/2 + ((H3+C4)+ABS(H3-C4))/2 - ((L3+C4)-ABS(L3-C4))/2 + ((H4+C5)+ABS(H4-C5))/2 - ((L4+C5)-ABS(L4-C5))/2 )/5
Optimized Formula: ((ABS(H-C1)+ABS(H1-C2)+ABS(H2-C3)+ABS(H3-C4)+ABS(H4-C5) +ABS(L-C1)+ABS(L1-C2)+ABS(L2-C3)+ABS(L3-C4)+ABS(L4-C5))/5 + AVGH5 - AVGL5)/2
Formula in English: Find the True Range for each of the last five days by subtracting the lowest of yesterday's close and today's low from the highest of yesterday's close and today's high. Average these True Ranges.


Name: Base Breakout
Submitted by: Ivanhoe
Version:1.00
Purpose: Find equities breaking out above trend or consolidation.
Formula: C > MAXH65.1 AND MAXH10.1 < MAXH65.1 AND MINL240.1 = MINL65.1 AND V > (V1 * 1.5) AND C > 10
Formula in English: Current bar close must be higher than previous 65 bars high, high of preceding 10 bars must be lower than high of preceding 65 bars, low of previous 240 bars must be within previous 65 bars, current volume must exceed previous volume by 50%, and stock must be priced above $10.


Name: Bearish BOP
Submitted by: HamFon
Version:1.00
Purpose: Looks for Balance Of Power indicating that the sellers are in charge
Formula: BOP1 < (-30)
Formula in English: Balance of Power below -30 indicates that the sellers are controlling the price


Name: Bollinger Band
Submitted by: Dinarek
Version:1.00
Purpose: Calculates Bollinger Band
Formula:((C-AVGC20)*1000)/SQR(20*(C0*C0+C1*C1+C2*C2+C3*C3+C4*C4+C5*C5+C6*C6+C7*C7+C8*C8+C9*C9+ C10*C10+C11*C11+C12*C12+C13*C13+C14*C14+C15*C15+C16*C16+C17*C17+C18*C18+C19*C19)-(C0+C1+C2+C3+C4+C5+ C6+C7+C8+C9+C10+C11+C12+C13+C14+C15+C16+C17+C18+C19)*(C0+C1+C2+C3+C4+C5+C6+C7+C8+C9+C10+C11+C12+C13+ C14+C15+C16+C17+C18+C19))
Formula in English: Calculates Bollinger Band


Name: Bollinger Band Width measured in ATR
Submitted by: eKam of TradeStationWorld
Version: 1.00
Credit: Based on TradeStation code and concepts by nickm001 and Kanuna
Purpose: Calculates 21-day Bollinger Band Width, measured in ATR
Formula: 2 * SQR((
(C0 - avgC21) * (C0 - avgC21) + (C1 - avgC21) * (C1 - avgC21) +
(C2 - avgC21) * (C2 - avgC21) + (C3 - avgC21) * (C3 - avgC21) +
(C4 - avgC21) * (C4 - avgC21) + (C5 - avgC21) * (C5 - avgC21) +
(C6 - avgC21) * (C6 - avgC21) + (C7 - avgC21) * (C7 - avgC21) +
(C8 - avgC21) * (C8 - avgC21) + (C9 - avgC21) * (C9 - avgC21) +
(C10 - avgC21) * (C10 - avgC21) + (C11 - avgC21) * (C11 - avgC21) +
(C12 - avgC21) * (C12 - avgC21) + (C13 - avgC21) * (C13 - avgC21) +
(C14 - avgC21) * (C14 - avgC21) + (C15 - avgC21) * (C15 - avgC21) +
(C16 - avgC21) * (C16 - avgC21) + (C17 - avgC21) * (C17 - avgC21) +
(C18 - avgC21) * (C18 - avgC21) + (C19 - avgC21) * (C19 - avgC21) +
(C20 - avgC21) * (C20 - avgC21)
) / 21)
/
(1.5 * (
C1 *( C1< L0) + L0 *( C1>= L0) - C1 *( C1> H0) - H0 *( C1<= H0) +
C2 *( C2< L1) + L1 *( C2>= L1) - C2 *( C2> H1) - H1 *( C2<= H1) +
C3 *( C3< L2) + L2 *( C3>= L2) - C3 *( C3> H2) - H2 *( C3<= H2) +
C4 *( C4< L3) + L3 *( C4>= L3) - C4 *( C4> H3) - H3 *( C4<= H3) +
C5 *( C5< L4) + L4 *( C5>= L4) - C5 *( C5> H4) - H4 *( C5<= H4) +
C6 *( C6< L5) + L5 *( C6>= L5) - C6 *( C6> H5) - H5 *( C6<= H5) +
C7 *( C7< L6) + L6 *( C7>= L6) - C7 *( C7> H6) - H6 *( C7<= H6) +
C8 *( C8< L7) + L7 *( C8>= L7) - C8 *( C8> H7) - H7 *( C8<= H7) +
C9 *( C9< L8) + L8 *( C9>= L8) - C9 *( C9> H8) - H8 *( C9<= H8) +
C10*(C10< L9) + L9 *(C10>= L9) - C10*(C10> H9) - H9 *(C10<= H9) +
C11*(C11< L10) + L10*(C11>=L10) - C11*(C11> H10) - H10*(C11<=H10) +
C12*(C12< L11) + L11*(C12>=L11) - C12*(C12> H11) - H11*(C12<=H11) +
C13*(C13< L12) + L12*(C13>=L12) - C13*(C13> H12) - H12*(C13<=H12) +
C14*(C14< L13) + L13*(C14>=L13) - C14*(C14> H13) - H13*(C14<=H13) +
C15*(C15< L14) + L14*(C15>=L14) - C15*(C15> H14) - H14*(C15<=H14) +
C16*(C16< L15) + L15*(C16>=L15) - C16*(C16> H15) - H15*(C16<=H15) +
C17*(C17< L16) + L16*(C17>=L16) - C17*(C17> H16) - H16*(C17<=H16) +
C18*(C18< L17) + L17*(C18>=L17) - C18*(C18> H17) - H17*(C18<=H17) +
C19*(C19< L18) + L18*(C19>=L18) - C19*(C19> H18) - H18*(C19<=H18) +
C20*(C20< L19) + L19*(C20>=L19) - C20*(C20> H19) - H19*(C20<=H19) +
C21*(C21< L20) + L20*(C21>=L20) - C21*(C21> H20) - H20*(C21<=H20)
)/21)
Formula in English: "Normalizes" the Bollinger Band Width by the Average True Range. This way, Bollinger Band squeezes (as well as wide expansions) can be more readily identified. Consolidation is indicated by values less than 1.0, while a large bandwidth alerts you of big moves. The formula implemented in PCF code is 2 * StandardDeviation (ClosePrice, 21) / (1.5 * AverageTrueRange (21)).


Name: Breakout - four week
Submitted by: Dinarek
Version:1.00
Purpose: Find bullish breakout after previous four weeks
Formula: C > 5 AND AVGV20 > 5000 AND C > MAXC20.1 AND V > (AVGV20.1 * 1.25)
Formula in English: Volume 25% higher than average and closing price higher than any in last four weeks


Name: Breakout - six week
Submitted by: Dinarek
Version:1.01
Purpose: Find bullish breakout after previous six weeks
Formula: C > 5 AND AVGV30 > 5000 AND C > MAXC30.1 AND V > (AVGV30.1 * 1.25)
Formula in English: Volume 25% higher than average and closing price higher than any in last six weeks


Name: Bullish BOP
Submitted by: HamFon
Version:1.00
Purpose: Looks for Balance Of Power indicating that the buyers are in charge
Formula: BOP1 > 30
Formula in English: Balance of Power over 30 indicates that the buyers are controlling the price


Name: Bullish Hammer Reversal
Submitted by: HamFon
Version:1.00
Purpose: Looks for bullish candlestick Hammer following a bearish candlestick
Formula: C >= O AND (C - O) * 2 <= O - L AND (C - O) * 3 >= O - L AND (C - L) / (H - L + .01) > .9 AND C1 < O1
Formula in English: Current candle must be bullish with the size of the real body between one-half and one-third of the whole candle, the close must be near the top, and the previous candle must be bearish


Name: Enough Volume and Price
Submitted by: HamFon
Version:1.02
Purpose: To select equities with sufficient liquidity for day trading, and eliminate very low and very high priced stocks
Formula: AVGV50 >= 5000 AND C >= 5 AND C <= 100
Formula in English: Average Volume of the past 50 days is 500,000 or more and closing price is between $5 and $100


Name: Falling Three Methods
Submitted by: HamFon
Version:1.00
Purpose: Find equities with Falling Three Methods bearish continuation candlestick pattern
Formula:L4 <= L3 AND L3 < L2 AND L2 < L1 AND C3 > O3 AND C1 > O1 AND H4 > H3 AND H4 > H2 AND H4 >= H1 AND O < C1 AND C < C4 AND C < O AND H4 > L4 AND (O4 - C4) / (H4 - L4) > .5 AND H > L AND (O - C) / (H - L) > .5
Formula in English: Bearish wide range bar followed by three small increasing bars in first bar's body, followed by bearish wide range bar setting a new low


Name: Haggerty's Three-Day Wakeup Call
Submitted by: Ivanhoe
Version:1.00
Purpose: Find equities with higher high and higher range and higher volume
Formula: H > H1 AND H > H2 AND (H - L) > (H1 - L1) AND (H - L) > (H2 - L2) AND V > V1 AND V > V2
Formula in English: Look for current bar high, range, and volume to both exceed previous two days high, range, and volume, respectively.


Name: Long 20-50-200 MA
Submitted by: HamFon
Version:1.00
Purpose: Identify an equity where the simple moving averages (20, 50, 200) are top-to-bottom
Formula: C > AVGC20 AND AVGC20 > AVGC50 AND AVGC50 > AVGC200
Formula in English: Closing price is above 20MA, 20MA is above 50MA, and 50MA is above 200MA


Name: Long RSI 30
Submitted by: HamFon
Version:1.00
Purpose: Find equities with a rising RSI which is below 30
Formula: RSI14.1 > RSI14.1.1 AND RSI14.1 < 30
Formula in English: Current RSI (14) is above previous, and also under 30


Name: Long RSI 50
Submitted by: HamFon
Version:1.00
Purpose: Find equities with a rising RSI which is below 50
Formula: RSI14.1 > RSI14.1.1 AND RSI14.1 < 50
Formula in English: Current RSI (14) is above previous, and also under 50


Name: MMRCsize
Submitted by: Jim Dean - (Sir) Tanstaafl by TCMail
Version:1.00
Purpose: Money Management and Risk Control position size calculation
Formula:( 400/2/(AvgH10-AvgL10+.001) < 8000/AvgC10 ) * 400/2/(AvgH10-AvgL10+.001) - ( 400/2/(AvgH10-AvgL10+.001) >= 8000/AvgC10 ) * 8000/AvgC10
Formula in English: Calculate the size of the position to be taken while maintaining good money management practices and risk control. Please see the TCNet/TC2000 Worden Report of 22 May 2003 for more details. User must adjust to personal style and resources: change 400's to max $Risk (stoploss) allowed for a trade (typ.max= 0.5-2.0% of Equity); change 8000's to max $CashxMargin allowed for a trade (typ.max= 5-20% of buying-power).


Name: MMRCturns
Submitted by: Jim Dean - (Sir) Tanstaafl by TCMail
Version:1.00
Purpose: Money Management and Risk Control tradable liquidity "turns"
Formula:200*AvgV10 / ( 400/2/(AvgH10-AvgL10+.001) + 8000/AvgC10 - Abs( 400/2/(AvgH10-AvgL10+.001) - 8000/AvgC10 ) + 0.001 )
Formula in English: Calculate how often a particular lot size "turns" during a day of trading, which indicates liquidity. Please see the TCNet/TC2000 Worden Report of 23 May 2003 for more details. Also, see notes for PCF MMRCsize to adjust the settings.


Name: Narrow Range 7-bar/Inside Bar
Submitted by: Ivanhoe
Version:1.00
Purpose: Find equities where current range is less than range of last 7 bars and previous bar engulfs current bar, for stocks priced above $10, and with more than 500000 average volume
Formula: (H - L) < (H1 - L1) AND (H - L) < (H2 - L2) AND (H - L) < (H3 - L3) AND (H - L) < (H4 - L4) AND (H - L) < (H5 - L5) AND (H - L) < (H6 - L6) AND (H - L) < (H7 - L7) AND H < H1 AND L > L1 AND C > 10 AND AVGV10 > 5000
Formula in English: Compare current bar range to the range of each of the preceding seven bars, making sure the current bar range is less. Also, make sure the current bar is engulfed by the previous bar, and that the share price is over $10, and average volume over 500000.


Name: OpenGap
Submitted by: HamFon
Version:1.00
Purpose: To select equities where the day opening price is 25 cents or more away from yesterday's close.
Formula: (O > C1 + 0.25) OR (O < C1 - 0.25)
Formula in English: Opening price is more than 25 cents different than yesterday's closing price.


Name: OpenGap Down
Submitted by: HamFon
Version:1.00
Purpose: To select equities where the day opening price is 25 cents or more lower than yesterday's close.
Formula: O < C1 - 0.25
Formula in English: Opening price is greater than yesterday's closing price minus 25 cents.


Name: OpenGap Up
Submitted by: HamFon
Version:1.00
Purpose: To select equities where the day opening price is 25 cents or more higher than yesterday's close.
Formula: O > C1 + 0.25
Formula in English: Opening price is greater than yesterday's closing price plus 25 cents.


Name: Reversal - one day
Submitted by: Dinarek
Version:1.00
Purpose: Find bullish breakout after previous six weeks
Formula: (O1 > C1) AND (O >= C) AND ((H-C)/(H-L) < 0.3) AND ((H-O)/(H-L) < 0.3) AND (L < L1) AND (L1 < L2)
Formula in English: Uptrend followed by a strong bullish candle with body larger than tails


Name: Rising Three Methods
Submitted by: HamFon
Version:1.00
Purpose: Find equities with Rising Three Methods bullish continuation candlestick pattern
Formula:H4 >= H3 AND H3 > H2 AND H2 > H1 AND C3 < O3 AND C1 < O1 AND L4 < L3 AND L4 < L2 AND L4 <= L1 AND O > C1 AND C > C4 AND C > O AND H4 > L4 AND (C4 - O4) / (H4 - L4) > .5 AND H > L AND (C - O) / (H - L) > .5
Formula in English: Bullish wide range bar followed by three small declining bars in first bar's body, followed by bullish wide range bar setting a new high


Name: Short RSI 50
Submitted by: HamFon
Version:1.00
Purpose: Find equities with a falling RSI which is above 50
Formula: RSI14.1 < RSI14.1.1 AND RSI14.1 > 50
Formula in English: Current RSI (14) is below previous, and also above 50


Name: Short RSI 70
Submitted by: HamFon
Version:1.00
Purpose: Find equities with a falling RSI which is above 70
Formula: RSI14.1 < RSI14.1.1 AND RSI14.1 > 70
Formula in English: Current RSI (14) is below previous, and also above 70


Name: 3SMA Entry
Submitted by: HamFon
Version:1.00
Purpose: Find equities with trending SMAs for long or short entry
Formula:((AVGC10 >= (AVGC10.1 + AVGC10.2 + AVGC10.3 + AVGC10.4) / 4) AND (AVGC20 >= (AVGC20.1 + AVGC20.2 + AVGC20.3 + AVGC20.4) / 4) AND (AVGC10 > AVGC20) AND (AVGC20 > AVGC40) AND (C <= ((AVGC10 + AVGC20) / 2))) OR ((AVGC10 <= (AVGC10.1 + AVGC10.2 + AVGC10.3 + AVGC10.4) / 4) AND (AVGC20 <= (AVGC20.1 + AVGC20.2 + AVGC20.3 + AVGC20.4) / 4) AND (AVGC10 < AVGC20) AND (AVGC20 < AVGC40) AND (C >= ((AVGC10 + AVGC20) / 2)))
Formula in English: 10, 20, and 40 SMA are all rising (for long) or falling (for short), and price has pulled back to at least halfway between 10 and 20 SMA


Name: 3SMA Long Entry
Submitted by: HamFon
Version:1.00
Purpose: Find equities with trending SMAs for long entry
Formula:(AVGC10 >= (AVGC10.1 + AVGC10.2 + AVGC10.3 + AVGC10.4) / 4) AND (AVGC20 >= (AVGC20.1 + AVGC20.2 + AVGC20.3 + AVGC20.4) / 4) AND (AVGC10 > AVGC20) AND (AVGC20 > AVGC40) AND (C <= ((AVGC10 + AVGC20) / 2))
Formula in English: 10, 20, and 40 SMA are all rising, and price has pulled back at least halfway between 10 and 20 SMA


Name: 3SMA Short Entry
Submitted by: HamFon
Version:1.00
Purpose: Find equities with trending SMAs for short entry
Formula:(AVGC10 <= (AVGC10.1 + AVGC10.2 + AVGC10.3 + AVGC10.4) / 4) AND (AVGC20 <= (AVGC20.1 + AVGC20.2 + AVGC20.3 + AVGC20.4) / 4) AND (AVGC10 < AVGC20) AND (AVGC20 < AVGC40) AND (C >= ((AVGC10 + AVGC20) / 2))
Formula in English: 10, 20, and 40 SMA are all falling, and price has pulled back at least halfway between 10 and 20 SMA


Name: Stoch Trap Long
Submitted by: Fibotrader
Version:1.00
Purpose: Find oversold equities on a pullback from a trend
Formula: STOC4.1 <= 21 AND C > AVGC50
Formula in English: Stochastics %K (length 4) indicates oversold and closing price is above 50 SMA


Name: Stoch Trap Short
Submitted by: Fibotrader
Version:1.00
Purpose: Find overbought equities on a pullback from a trend
Formula: STOC4.1 >= 79 AND C < AVGC50
Formula in English: Stochastics %K (length 4) indicates overbought and closing price is below 50 SMA


Name: Three Green Bars
Submitted by: Dinarek
Version:1.00
Purpose: Find three consecutive bullish bars
Formula: C > O AND C1 > O1 AND C2 > O2 AND C > 7 AND AVGV5 > 5000
Formula in English: Each of the last three bars closes above it's open


Name: Three Red Bars
Submitted by: Dinarek
Version:1.00
Purpose: Find three consecutive bearish bars
Formula: C < O AND C1 < O1 AND C2 < O2 AND C > 7 AND AVGV5 > 5000
Formula in English: Each of the last three bars closes below it's open


Name: True Range
Submitted by: HamFon
Version:1.00
Purpose: Find the True Range (Range of bar, adjusting for gaps) of the most recent day
Formula: L*(L<=C1)+C1*(L>C1)-H*(H>=C1)-C1*(H<C1)
Formula in English: Subtract the lowest of yesterday's close and today's low from the highest of yesterday's close and today's high (the True Range).


Name: True Range - alternative with no boolean calculations
Submitted by: HamFon
Version:1.00
Purpose: Find the True Range (Range of bar, adjusting for gaps) of the most recent day
Formula: (H - L + ABS(H - C1) + ABS(L - C1)) / 2
Formula in English: Subtract the lowest of yesterday's close and today's low from the highest of yesterday's close and today's high (the True Range).


Name: Volatile 1 dollar
Submitted by: HamFon
Version:1.00
Purpose: Find equities where the average range over the past 5 days is at least a dollar
Formula: AVGH5 - AVGL5 >= 1
Formula in English: Calculate the average range (high minus low - not True Range) of the past 5 days, and check if the average is at least one dollar


Name: Volatile 1 dollar - daily
Submitted by: HamFon
Version:1.00
Purpose: Find equities where the daily range over the past 5 days is at least a dollar per day
Formula: H4-L4 >= 1 AND H3-L3 >= 1 AND H2-L2 >= 1 AND H1-L1 >= 1 AND H-L >= 1
Formula in English: Calculate the range (high minus low - not True Range) for each day of the past 5 days, and that each is at least one dollar


Name: Volatile 1-2 dollar
Submitted by: HamFon
Version:1.00
Purpose: Find equities where the average range over the past 5 days is between 1 and 2 dollars
Formula:AVGH5 - AVGL5 >= 1 AND AVGH5 - AVGL5 <= 2
Formula in English: Calculate the average range (high minus low - not True Range) of the past 5 days, and check if the average is at least one dollar, but not more than 2 dollars


Name: Volatile 1-2 dollar - daily
Submitted by: HamFon
Version:1.00
Purpose: Find equities where the daily range over the past 5 days is between 1 and 2 dollars
Formula: H4-L4 >= 1 AND H3-L3 >= 1 AND H2-L2 >= 1 AND H1-L1 >= 1 AND H-L >= 1 AND H4-L4 <= 2 AND H3-L3 <= 2 AND H2-L2 <= 2 AND H1-L1 <= 2 AND H-L <= 2
Formula in English: Calculate the range (high minus low - not True Range) for each day of the past 5 days, and check that each is at least one dollar, but not more than 2 dollars

Go to HamFon's daytrade page.