Hello All,
I have watched the videos on BCFL(didn’t help a great deal) and am attempting to write a BC search/scan for “Weekly Pivot Point Reversal”. I’m getting many syntax errors (because I don’t know the code language well - this is my first attempt).
i thought this would be easy and only 5 lines long. eg
1 - Fridays Close
2 - Fridays Close must be above High of Previous Week
3 -This Week’s Low must be above Previous Week’s Low
4 - Volume is 100,000 or greater
5 - Low Last Week must be Less than Low 2 week’s ago
Also you need to select weekly timeframe in the settings (period type, data type)
Weekly data is updated on Friday so you need to run this scan after the Friday update.
Teaching a new support team member here and I was using this question as an introduction in to BCFL support. Very happy to see other members help and join in! Thank you Bill.
The only difference to my solution that this section:
Cond1: = C>Ref(C,-1);
To compare against the previous high should look like this:
Cond1: = C>Ref(H,-1);
The full solution I wrote up with Sam (you may have spoken with him over the phone here at Share Wealth Systems), below is in effect, the same as Bill’s just written a different way.
The lines after output are in squirly brackets because you can change what plots on a graph or is used in a scan in order to verify BCFL is calculating / interpreting it how you expect it to. ie. for testing purposes.
{ 1 - Fridays Close }
WeeklyClose := C;
{ 2 - Fridays Close must be above High of Previous Week }
CloseAboveHigh := WeeklyClose > REF(H, -1);
{ 3 -This Week’s Low must be above Previous Week’s Low }
LowAboveLow := L > REF(L, -1);
{ 4 - Volume is 100,000 or greater }
VolumeCheck := V > 100000;
{ 5 - Low Last Week must be Less than Low 2 week’s ago }
Low2AboveLow1 := REF(L, -1) < REF(L, -2);
{ Putting it all together }
Output := CloseAboveHigh AND LowAboveLow AND VolumeCheck AND Low2AboveLow1;
Output;
{CloseAboveHigh;}
{LowAboveLow;}
{VolumeCheck;}
Could this formula be run every night for Pivot break up results?
Currently, I’m getting around 66 scan results (Wednesday) so not sure if it’s designed to be run at the end of the week.