|
PureBytes Links
Trading Reference Links
|
If we can agree that
many stocks within a given Sector tend to follow other stocks in that sector
then it follows that understanding the mood of the Sector your stock
resides in may offer useful information. A common measure of market sentiment is
the Advance Decline line. Perhaps this concept could be focused on individual
sectors as well. The first step is to select a market to study such the nasdaq,
S&P or a custom universe of your choice.
<SPAN
class=915501906-22032003>
In AA select this
watchlist, select n lastdays n=1
<SPAN
class=915501906-22032003>
Now scan the
following code......
<SPAN
class=915501906-22032003>
Buy=<FONT color=#ff00ff
size=2>0<FONT
face=Arial>;
up=C<FONT
size=2>>Ref(<FONT
size=2>C,-<FONT
size=2>1<FONT color=#000000
face=Arial>);
dn=C<FONT
size=2><Ref(<FONT
size=2>C,-<FONT
size=2>1<FONT color=#000000
face=Arial>);
upvol=V<FONT
face=Arial>>Ref<FONT
size=2>(V<FONT
size=2>,-1<FONT
color=#000000 face=Arial>);
dnvol=V<FONT
face=Arial><Ref<FONT
size=2>(V<FONT
size=2>,-1<FONT
color=#000000 face=Arial>);
Ad="~AD"+<FONT
size=2>SectorID(1<FONT
color=#282828 size=2><FONT color=#000000
face=Arial>);
<FONT
color=#000000>
AddToComposite(up,Ad,<FONT
size=2>"C"<FONT color=#000000
face=Arial>);<FONT
face=Arial>
AddToComposite(dn,Ad,<FONT
size=2>"O"<FONT color=#000000
face=Arial>);<FONT
face=Arial>
AddToComposite(upvol,Ad,<FONT
size=2>"H"<FONT color=#000000
face=Arial>);<FONT
color=#000000>
AddToComposite(dnvol,Ad,<FONT
size=2>"L"<FONT color=#000000
face=Arial>);
<SPAN
class=915501906-22032003>Now go to IB to plot the data we have
collected.........
<SPAN
class=915501906-22032003>
<SPAN
class=915501906-22032003><FONT
color=#008000>
//Sector <FONT
color=#000000 face=Arial size=2>AD
<FONT
color=#000000>
pds=Param("Smoothing Periods",5,1,20,1<FONT
color=#282828>);<FONT
size=2>
Ad="~AD"+SectorID(1<FONT
color=#000000 face=Arial size=2>);<FONT
color=#000000>
ADissues=Foreign(Ad,"C"<FONT
color=#282828>);<FONT
size=2>
Dissues=Foreign(Ad,"O"<FONT
color=#000000 face=Arial size=2>);<FONT
color=#000000>
Advol=Foreign(Ad,"H");<FONT
color=#000000 face=Arial>// not used but there is you want it<FONT
color=#282828>
Dvol=Foreign(Ad,"L");<FONT
color=#000000 face=Arial size=2>//not used but there if you want it
<FONT
color=#000000>
Plot(EMA(adissues,pds),"Advancers",5,1<FONT
color=#282828>);<FONT
color=#0000ff>
Plot(EMA(dissues,pds),"Decliners",4,1<FONT
color=#282828><FONT color=#000000 face=Arial
size=2>);
Title=<FONT
color=#0000ff>SectorID(<FONT
color=#ff00ff>1)+ <FONT
color=#ff00ff>" Sector Advance<SPAN
class=915501906-22032003>/Decline"<FONT
color=#282828>+"\n Advancing Issues "<FONT
color=#282828> +WriteVal<FONT
color=#282828>(EMA<FONT
color=#282828>(Adissues,pds),1.0<FONT
color=#282828>)+" Declining Issues "<FONT
color=#282828>+WriteVal<FONT
color=#282828>(EMA<FONT
color=#282828>(dissues,pds),1.0<FONT
color=#282828>);
As you
scroll your watchlist the appropriate Sectors A/D line will plot. The
smoothing is adjustable via Param. It is easy to see which stocks correlate with
their Sector brethren. Perhaps you will find it
useful.
<SPAN
class=915501906-22032003> <FONT color=#0000ff
face=Arial size=2>Jayson
Yahoo! Groups Sponsor
ADVERTISEMENT
Send BUG REPORTS to bugs@xxxxxxxxxxxxx
Send SUGGESTIONS to suggest@xxxxxxxxxxxxx
-----------------------------------------
Post AmiQuote-related messages ONLY to: amiquote@xxxxxxxxxxxxxxx
(Web page: http://groups.yahoo.com/group/amiquote/messages/)
--------------------------------------------
Check group FAQ at: http://groups.yahoo.com/group/amibroker/files/groupfaq.html
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
|