Hi guys,
Re: P&F scans
I could really do with some help here. I thought I understood about what I am going to ask but it is now clear that I do not.
I have been trying to get my head around the P&F scanning tool (I have entered this under “scripting” in the absence of a better place).
What I want is a P&F scan that will return those instruments whose P&F charts have changed polarity within the specified period (e.g. the last day/week, depending on whether I am trading end-of-day or end-of-week).
My sense is that the P&F chart is very good at revealing when price is, or is about to, change direction (but for an indeterminate period of time). I note that P&F charts can cease to add further circles or crosses for some time before they change polarity. That is fine and not a problem.
I think I understand the “P&F style” criteria supplied under PFSCAN() and the differences between the various modes supplied.
But I cannot understand the “scan pattern” modalities at all. I get the sense that none of them will return what I want, which is quite simple (at least it seems to me).
I have repeatedly read all the information provided in the Knowledge Base, but I cannot understand what I need to know.
If there is another way to research this without bothering you I am happy to be guided and directed.
One ancillary question: does the scanning tool automatically set a box size appropriate to the price of every separate instrument?
I am always exceedingly grateful for the wonderful assistance you have provided in the past.
Best wishes,
Bill Miles (Bill.Miles)
Scan patterns
P&F forum query 240907.docx (30.2 KB)