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Hi
I am trying to find the best performing sectors,
At the moment i am playing around with a graph,
and would like to know if the idea and formula below is correct.
what i would like the graph to show is
1) a crossing of the zero line when the sector is performing better
than the base index.
2) the graph changes color e.g. yellow in this example when the
sector is performing better than the base index, but also when the
sector is in an uptrend.
The reason for the actual sector being in an uptrend is that
this graph does not represent the actual close of the sector, it is
the difference from the base index and the actual sector,
the sector could actually be in a down trend, but not as bad as
the base index downtrend, but the graph will actually show an uptrend
so the color change will show if the sector is actually in an uptrend.
If anyone has a better system or way to search for the best
sectors please reply.
P=Foreign("xao","c");//Base Market
//Cond1=P;
Cond1= MA(ROC(p,2),25)<MA(ROC(C,2),25) AND ROC(MA(C,25),3)>ROC(MA
(C,25),2);
barcolor=IIf(Cond1,7,6);
Graph0=1/p;
Graph0Style=1;
Graph0BarColor=ValueWhen(barcolor !=0,barcolor);
Graph1=1/C;
Graph1Style=1;
Graph1 = (LastValue(Highest(Graph0))/LastValue(Highest(Graph1)))
*Graph1;//Scaling on chart
Plot(Graph0 - Graph1 ,"",1,1);
Plot(0,"",1,1);
peter.
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