How To Create a Custom PCF Child Indicator
New to TC2000, you can use the PCF child indicator to create formula indicators that reference the data from any indicator in TC2000, including indicators that can not be created using standard PCF language. Some of these include Relative Strength, PSAR, Bid/Ask and VSTOP. The Custom PCF Child Indicator can be made to return a value or True/False (Boolean) result. In this example we will be plotting the child indicator value using Parabolic SAR (PSAR) as the parent indicator. Then adding the child indicator value to a Watchlist.
To add the PCF Child Indicator right click on the indicator name you would like to reference.
Then Select Add Plot Here...
Select Custom PCF Child Indicator from the add plot window.
Enter your formula. (By default TC2000 enters in a place holder formula of AVGC10--the 10 period simple average of the indicator). In this example we will use the TrueInRow function to count from the latest bar back, how many times over the last 50 bars PSAR has had decreasing values.
This child indicator will now be plotted on your chart. Keep in mind that this indicator will be overlayed and scaled with the parent indicator. In this formula the max value it can return is 50. Depending on where the security is trading this indicator may not be visible on the chart.
If this is the case, adjust your projection space to show the indicator.
Once you have the indicator plotted you can copy it to any item in your layout. Right click on the Custom PCF Child indicator title
Then Select Copy> To Item in Layout
You can then copy this indicator to any item in your layout, in this case we are going to add it to a Watchlist as a value column.
The value column has now been added. (In this example L is returning a value of 2.)
When referencing Parent indicators the most common variable you will use is C as most indicators only return one value. If O,H,L values are available (like in the case of Bid or Ask) then they can be used. Standard offsets can be applied as well, C1, C2, C3, etc. For a complete list of PCF syntax click here