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As to the future of the NDX market as told by this indicator: more downward
price movement until the indicator is lower, then a rebound of some
magnitude.
I have tried the MeanRSI on other watchlists and it provides an interesting
view of strength vs an index. I did this only by eyeball but I guess one
could construct a relative strength MeanRSI =
MeanRSI(Watchlist)/MeanRSI(NDX) [or RUT, or SP500, or...].
What do you think the future is for NDX or other indeces?
Ken
-----Original Message-----
From: Dimitris Tsokakis [mailto:TSOKAKIS@x...]
Sent: Sunday, April 28, 2002 7:21 AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: [amibroker] The past and the future of the MeanRSI
For a group of n stocks, the MeanRSI is
MeanRSI=(RSI1+RSI2+...+RSIn)/n.
With the help of Addtocomposite() function it is easily calculated from the
scan
R=IIf(RSI()>=0 AND RSI()<=100,RSI(),0);
AddToComposite(R,"~SUMRSI","C");
AddToComposite(1,"~COUNT","V");
Buy=0;
as the quantity
MeanRSI=Foreign("~SUMRSI","C")/Foreign("~COUNT","V");
which may be plotted or used in AA systems.
For ^NDX group, the graph of the MeanRSI since early 2000 is in the att.
gif.
For the lower band [36,38] and upper line [60], the MeanRSI gives huge
profits for the
whole Market and the majority of the 101 stocks.
My [reasonable] question is about the future of the MeanRSI.
Will it oscillates in this zone ? Will it be more flat in the future and
oscillate for a long time, say, in the
more narrow [40,55] band ?[this means that the ^NDX market will change its
"style" and behave more
like S&P or other cool indexes].
This is the main question about the UNKNOWN future of ^NDX market.
Any bright idea ?
Dimitris Tsokakis
PS. Profits for [36,38]/60 band exceed +1000% for the whole market for the
last 2 years.
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
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<DIV><FONT color=3D#0000ff face=3DVerdana size=3D2><SPAN=20
class=3D850434615-28042002>DT: In the attached chart, the red RSI is =
your=20
MeanRSI while the yellow is the RSI() of NDX. The MeanRSI seems to ha=
ve=20
the function of "smoothing" the spikes in RSI as read by the RSI of the=20
Index. I am not sure why this is. It is possible this is like a=
=20
"smoothing" function without time delay and could result in more accurate=20
signals (using RSI or rather MeanRSI).</SPAN></FONT></DIV>
<DIV><FONT color=3D#0000ff face=3DVerdana size=3D2><SPAN=20
class=3D850434615-28042002></SPAN></FONT> </DIV>
<DIV><FONT color=3D#0000ff face=3DVerdana size=3D2><SPAN class=3D850434615-=
28042002>As=20
to the future of the NDX market as told by this indicator: more downward pr=
ice=20
movement until the indicator is lower, then a rebound of some=20
magnitude.</SPAN></FONT></DIV>
<DIV><FONT color=3D#0000ff face=3DVerdana size=3D2><SPAN=20
class=3D850434615-28042002></SPAN></FONT> </DIV>
<DIV><FONT color=3D#0000ff face=3DVerdana size=3D2><SPAN class=3D850434615-=
28042002>I=20
have tried the MeanRSI on other watchlists and it provides an interesting v=
iew=20
of strength vs an index. I did this only by eyeball but I guess one could=20
construct a relative strength MeanRSI =3D MeanRSI(Watchlist)/MeanRSI(NDX) [=
or RUT,=20
or SP500, or...].</SPAN></FONT></DIV>
<DIV><FONT color=3D#0000ff face=3DVerdana size=3D2><SPAN=20
class=3D850434615-28042002></SPAN></FONT> </DIV>
<DIV><FONT color=3D#0000ff face=3DVerdana size=3D2><SPAN class=3D850434615-=
28042002>What=20
do you think the future is for NDX or other indeces?</SPAN></FONT></DIV>
<DIV><FONT color=3D#0000ff face=3DVerdana size=3D2><SPAN=20
class=3D850434615-28042002></SPAN></FONT> </DIV>
<DIV><FONT color=3D#0000ff face=3DVerdana size=3D2><SPAN=20
class=3D850434615-28042002>Ken</SPAN></FONT></DIV>
<DIV align=3Dleft class=3DOutlookMessageHeader dir=3Dltr><FONT face=3DTahom=
a=20
size=3D2>-----Original Message-----<BR><B>From:</B> Dimitris Tsokakis=20
[mailto:TSOKAKIS@x...]<BR><B>Sent:</B> Sunday, April 28, 2002 7:21=20
AM<BR><B>To:</B> amibroker@xxxxxxxxxxxxxxx<BR><B>Subject:</B> [amibroker] T=
he=20
past and the future of the MeanRSI<BR><BR></FONT></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>For a group of n stocks, t=
he=20
MeanRSI is</FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff=20
size=3D2>MeanRSI=3D(RSI1+RSI2+...+RSIn)/n.</FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>With the help of Addtocomposite=
()=20
function it is easily calculated from the scan</FONT></STRONG></DIV>
<DIV><FONT size=3D2></FONT> </DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>R=3DIIf(RSI()>=3D0 AND=20
RSI()<=3D100,RSI(),0);</FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff=20
size=3D2>AddToComposite(R,"~SUMRSI","C");</FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff=20
size=3D2>AddToComposite(1,"~COUNT","V");</FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>Buy=3D0;</FONT></STRONG></DIV>
<DIV> </DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>as the quantity</FONT></STRONG>=
</DIV>
<DIV><STRONG><FONT color=3D#0000ff=20
size=3D2>MeanRSI=3DForeign("~SUMRSI","C")/Foreign("~COUNT","V");</FONT></ST=
RONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>which may be plotted or used in=
AA=20
systems.</FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>For ^NDX group, the graph of th=
e MeanRSI=20
since early 2000 is in the att. gif.</FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>For the lower band [36,38] and =
upper=20
line [60], the MeanRSI gives huge profits for the </FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>whole Market and the majority o=
f the 101=20
stocks.</FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>My [reasonable] question is abo=
ut the=20
future of the MeanRSI.</FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>Will it oscillates in this zone=
? Will=20
it be more flat in the future and oscillate for a long time, say, in=20
the</FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>more narrow [40,55] band ?[this=
means=20
that the ^NDX market will change its "style" and behave more=20
</FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>like S&P or other cool=20
indexes].</FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>This is the main question about=
the=20
UNKNOWN future of ^NDX market.</FONT></STRONG></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>Any bright idea ?</FONT></STRON=
G></DIV>
<DIV><STRONG><FONT color=3D#0000ff size=3D2>Dimitris Tsokakis</FONT></STRON=
G></DIV>
<DIV><FONT color=3D#0000ff size=3D2><STRONG>PS. Profits for [36,38]/60 band=
exceed=20
+1000% for the whole market for the last 2=20
years.</STRONG></FONT></DIV><BR><TT>Your use of Yahoo! Groups is subject to=
the=20
<A href=3D"http://docs.yahoo.com/info/terms/";>Yahoo! Terms of Service</A>.<=
/TT>=20
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