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<SPAN
class=400053503-11042003>Ron,
It
sounds fairly straight forward. He counts the stocks > than their 40dma then
divides that number by the total stocks under study. This could easily be done
with addtocomposite.
<SPAN
class=400053503-11042003>
In AA
click "define" under Markets select NYSE. For days choose 1
(n=1).
<SPAN
class=400053503-11042003>
The
following code will create the composite ticker called ~T2108 by running a scan
on the database. Copy the same code to IB to plot the indicator on your newly
created ticker....
<SPAN
class=400053503-11042003>
<FONT
color=#000000>
Buy=<FONT color=#ff00ff
size=2>0<FONT
face=Arial>;
x=C<FONT
size=2>>MA(<FONT
size=2>C,<FONT
size=2>40<FONT color=#000000
face=Arial>);
<FONT
color=#000000>
AddToComposite(x,<FONT
size=2>"~T2108","C"<FONT
size=2>);<FONT color=#000000
face=Arial>//counts stocks above the 40 and saves to the close
field<FONT
color=#000000>
AddToComposite(1<FONT
size=2>,"~T2108",<FONT
size=2>"V");<FONT color=#008000
size=2>//counts all stocks in the
index
<FONT color=#0000ff
size=2>
Plot((<FONT
size=2>C/<FONT
size=2>V)*<FONT
size=2>100,"% over 40 DMA"<FONT
size=2>,4,<FONT
size=2>1<FONT color=#000000
face=Arial>);
Title=<FONT color=#ff00ff
size=2>"Total stocks " +<FONT
color=#0000ff size=2>WriteVal(<FONT
color=#000000 size=2>V,<FONT
color=#ff00ff size=2>1) + <FONT
color=#ff00ff size=2>" Stocks above the 40 DMA "<FONT color=#282828
size=2> +WriteVal<FONT color=#282828
size=2>(C<FONT color=#282828
size=2>,1)+
"\n Percentage of stocks above the 40 DMA
" +<FONT color=#0000ff
size=2>WriteVal((<FONT color=#000000
size=2>C/<FONT color=#000000
size=2>V)*<FONT color=#ff00ff
size=2>100)<FONT color=#282828
size=2>+""<FONT color=#282828
size=2>+WriteVal<FONT color=#282828
size=2>(ROC<FONT color=#282828
size=2>((C<FONT color=#282828
size=2>/V<FONT color=#282828
size=2>)*100<FONT color=#282828
size=2>,1<FONT color=#282828
size=2>));
<FONT
color=#0000ff>
<SPAN
class=400053503-11042003>Depending on how many stocks TC2000 tracks and
depending on what kind of MA (simple, exponential, wilders) they use in the
calculation you may find some minor differences but I think this is the spirit
of the idea.
<SPAN
class=400053503-11042003>
<SPAN
class=400053503-11042003>If you have not yet read the tutorial on using
composites in the help files I highly suggest it. This feature of AB may well be
one of its finest.
<SPAN
class=400053503-11042003>
<SPAN
class=400053503-11042003><IMG align=baseline alt="" border=0 hspace=0
src="gif00193.gif">
Jayson
<FONT face=Tahoma
size=2>-----Original Message-----From: mrdavis9
[mailto:mrdavis9@xxxxxxxxxx]Sent: Thursday, April 10, 2003 9:15
PMTo: amibroker tipsSubject: [amibroker] Worden Brothers
T2108 indicator.
Below, I have copied information on the T2108
indicator that Worden Bros. includes in their daily downloads of data.
Gary Smith seems to think it is a decent market condition indicator.
I am not yet capable of doning any coding, so if someone decides to
write Amibroker code that will allow this so it can
be displayed in Amibroker, I would appreciate your posting it here in this
group. I use the free yahoo EOD data. Ron D
<FONT face=Arial
size=2>==========================================================================================
<SPAN
class=MainHeadline>An Update on the Trusty T2108<IMG border=0
height=5 src=""
width=1 NOSEND="1"><SPAN
class=default>By <A
href="">Gary B.
SmithSpecial to
RealMoney.com<SPAN
class=Time>04/10/2003 08:31 AM EDT<A
class=leftNavLinks
href=""
>Click here for more stories by
Gary B. Smith
Has <A
href=""><FONT
color=#000066>T2108 nailed it again? You'll recall that I've been
using this chart -- which is nothing more than the percentage of NYSE
stocks over their 40-day moving average -- as somewhat of a buy/sell oscillator.
When the percentage gets above 70%, that marks a top. When it gets down into the
mid-20% range, it's a buy. Down much lower, and it's a bottom.
<A
href=""> Now,
on April 2, it finally climbed into the 70%-plus range, and I <A
href=""><FONT
color=#000066>noted it might be time to sell. Since then? Despite
some good openings, the S&P has not closed higher than it did on
April 2 and is now down 1.7% since that day!
Interesting stuff, and I'll keep you posted. (Oh, I'll save you the trouble
of asking. I've looked, and this chart is only available via Worden Brothers'
TC2000 software.)
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