Information for TeleChart Users

TeleChart users can take advantage of the automatic generation  of PCF (Personal Criteria Formulas) by PAL to create Easyscans. Alternatively, the TeleChart database export capability can be used in conjunction with the PAL scan and p-indicator functions.

Example 1:

A QQQQ trader can use PAL to discover price patterns that fulfill specific historical performance criteria using QQQQ historical data generated by TeleChart  in PAL  format. Then:

1. PCF compatible code for TeleChart is generated automatically by PAL for each price pattern discovered.

2. The code is then used to create PCFs in TeleChart for each selected pattern

3. The trader creates a QQQQ watch-list in TeleChart

4. Telechart scans the watch-list using the created PCFs after they are added to an easy scan.

Note that the price patterns discovered by PAL are described by Boolean expressions and so are the corresponding PCFs. Thus, the result of a TeleChart easy scan using an PAL generated PCF is indicated as True or False.

Example 2:

A short-term equity trader exports and updates on a daily basis all the available symbols in S&P 500 Index, in PAL text format (one symbol per file, at least 2,500 bars per file). A PAL scan workspace with multiple risk/reward parameters is used to scan each data file for patterns formed as of the close of the last trading day, which  meet set performance criteria. Normally, the objective is the identification of  high profitability price pattern formations.