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Richard,
Thanks,
Geoff
Original Message:
-----------------
From: Cloonan cloonan@xxxx
Date: Sun, 18 Mar 2001 16:12:37 +1100
To: amibroker@xxxxxxxxxxxxxxx
Subject: Re: [amibroker] RELSTRENGTH
<html><body>
<tt>
Geoff<BR>
<BR>
I got the same result until I put the index itself into the banking<BR>
industry - which then gave me the flat line. I assume it is otherwise<BR>
comparing the index to the default relstrength index (in my case XAO).<BR>
<BR>
I have now removed index assigned from the banking industry as it is<BR>
comparing comparing the performance of the XBF and the All Ordinaries (my<BR>
default index)- a useful comparison.<BR>
<BR>
regards<BR>
Richard<BR>
<BR>
<BR>
<BR>
To get the expected flat line you need to put the index itself<BR>
<BR>
<BR>
----- Original Message -----<BR>
From: "Geoff Mulhall" <gmulhall@xxxx><BR>
To: <amibroker@xxxxxxxxxxxxxxx><BR>
Sent: Sunday, March 18, 2001 1:38 PM<BR>
Subject: Re: [amibroker] RELSTRENGTH<BR>
<BR>
<BR>
G'day,<BR>
<BR>
I have XBF as the index for Banking setup in Ami for that Ami Industry.<BR>
<BR>
I have an indicator (Thanks to David H & Tomasz) - graph0 = RELSTRENGTH("");<BR>
showing in a window.<BR>
<BR>
When I click on XBF and view its chart - I don't get a horizontal straight<BR>
line graph as I would expect when I compare the index to itself.<BR>
<BR>
I must be doing something wrong.<BR>
<BR>
I do have scaling set to Automatic and grid lines set to limit<BR>
<BR>
Any ideas ?<BR>
<BR>
Thanks,<BR>
<BR>
Geoff<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
----- Original Message -----<BR>
From: Cloonan<BR>
To: amibroker@xxxxxxxxxxxxxxx<BR>
Sent: Sunday, March 18, 2001 7:46 AM<BR>
Subject: Re: [amibroker] RELSTRENGTH<BR>
<BR>
<BR>
Tomasz,<BR>
<BR>
Thanks - I had the feeling I was missing something. (now I have something<BR>
new to play with)<BR>
<BR>
regards<BR>
Richard<BR>
<BR>
<BR>
----- Original Message -----<BR>
From: "Tomasz Janeczko" <tj@xxxx><BR>
To: <amibroker@xxxxxxxxxxxxxxx><BR>
Sent: Sunday, March 18, 2001 6:54 AM<BR>
Subject: Re: [amibroker] RELSTRENGTH<BR>
<BR>
<BR>
> Hi Richard,<BR>
><BR>
> It works that way!<BR>
><BR>
> If you specify an empty string as an argument<BR>
> RelStrength("");<BR>
><BR>
> AmiBroker will use base stock defined in Categories/Markets<BR>
><BR>
> Best regards,<BR>
> Tomasz Janeczko<BR>
> ===============<BR>
> AmiBroker - the comprehensive share manager.<BR>
> http://www.amibroker.com<BR>
><BR>
><BR>
> ----- Original Message -----<BR>
> From: "Cloonan" <cloonan@xxxx><BR>
> To: <amibroker@xxxxxxxxxxxxxxx><BR>
> Sent: Saturday, March 17, 2001 9:31 AM<BR>
> Subject: Re: [amibroker] RELSTRENGTH<BR>
><BR>
><BR>
> > Tomasz,<BR>
> ><BR>
> > To follow on from Geoff's original request.<BR>
> ><BR>
> > My understanding is that at the present it is only possible to use<BR>
> > RelStrength() against a single index as in your example below which<BR>
compares<BR>
> > it to the Australian All Ordinaries (XAO). What could be useful would<BR>
be to<BR>
> > allow a comparison against say each stock's industry index.<BR>
> ><BR>
> > It seems to me that we just need some variables which carry the<BR>
relevant<BR>
> > industry & sector index names that we can reference. This capability<BR>
seems<BR>
> > to be an implied in the Categories window where indexes can be set for<BR>
> > markets, groups and industries.<BR>
> ><BR>
> > Have I missed the point on these assignments?<BR>
> ><BR>
> > regards<BR>
> > Richard<BR>
> ><BR>
> ><BR>
> > ----- Original Message -----<BR>
> > From: "Tomasz Janeczko" <tj@xxxx><BR>
> > To: <amibroker@xxxxxxxxxxxxxxx><BR>
> > Sent: Saturday, March 17, 2001 6:40 PM<BR>
> > Subject: Re: [amibroker] RELSTRENGTH<BR>
> ><BR>
> ><BR>
> > Hi Geoff,<BR>
> ><BR>
> > 1. Yes you can, but please remember about two things:<BR>
> > a) RelStrength() function needs an index ticker to compare to, for<BR>
example<BR>
> > "XAO" (ASE all ordinaries index)<BR>
> > b) RelStrength() values are not normalized, so they are different<BR>
for<BR>
each<BR>
> > stock. This means that you can only get<BR>
> > resonable results if you check for rising/fallingRelStrength or<BR>
if<BR>
> > you detect a new high or new low.<BR>
> > Absolute levels (such as 1) do not work.<BR>
> ><BR>
> > 2. Use graph1 = RelStrength( "XAO" ); to generate relative strength of<BR>
> > currently selected stock compared to the index.<BR>
> ><BR>
> > 3. Comparative Relative Strength is calculated by simply DIVIDING the<BR>
> > closing price of currently selected stock by the closing<BR>
> > price of BASE stock (usually an index):<BR>
> ><BR>
> > RELSTRENGTH = CLOSE / CLOSE_OF_BASE_STOCK;<BR>
> ><BR>
> ><BR>
> > Best regards,<BR>
> > Tomasz Janeczko<BR>
> > ===============<BR>
> > AmiBroker - the comprehensive share manager.<BR>
> > http://www.amibroker.com<BR>
> ><BR>
> > ----- Original Message -----<BR>
> > From: Geoff Mulhall<BR>
> > To: amibroker@xxxxxxxxxxxxxxx<BR>
> > Sent: Friday, March 16, 2001 10:48 AM<BR>
> > Subject: [amibroker] RELSTRENGTH<BR>
> ><BR>
> ><BR>
> > G'day Tomasz,<BR>
> ><BR>
> > Can you assist with the following please ?<BR>
> ><BR>
> > 1. Can I use RELSTRENGTH in an Auto Analysis over a selected<BR>
industry<BR>
> > (using a filter to choose the industry) to return all those stocks<BR>
with<BR>
say<BR>
> > ma(relative strength(), 30) > 1 say ? (Assuming I have set up the base<BR>
> > indices correctly of course).<BR>
> ><BR>
> > 2. If not, can I plot the relative strength in a separate chart<BR>
window<BR>
> ><BR>
> > graph1 = RELSTRENGTH(); - doesn't work because there is no argument<BR>
for<BR>
> > the ticker.<BR>
> ><BR>
> > 3. Would you have a reference you could point me at on RELSTRENGTH.<BR>
(I'm<BR>
> > wanting to use it to create a watch list as per Weinsteins 'Secretsof<BR>
> > Profiting in Bull & Bear Markets') so I want to understand how<BR>
RELSTRENGTH<BR>
> > is calculated in AmiBroker.<BR>
> ><BR>
> > Thanks again,<BR>
> ><BR>
> > Geoff<BR>
> ><BR>
> ><BR>
> > RELSTRENGTH SYNTAX relstrength( "tickername" )<BR>
> > RETURNS ARRAY<BR>
> > FUNCTION Calculates relative strength ofcurrently selected<BR>
> > security compared to "tickername" security<BR>
> > EXAMPLE relstrength( "^DJI" )<BR>
> ><BR>
> ><BR>
> > Yahoo! Groups Sponsor<BR>
> ><BR>
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<BR>
</tt>
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