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Subject: RE: [amibroker] Sector and industry analysis
Now that you have the appropriate composite information built you can put it
to use when examining charts. This code offers input into the A/D data for
the sector the stock you are studying resides in. Very interesting when
divergences appear. A/D is displayed as a line while the associated volume
is displayed as a histogram..
Regards,
Jayson
//Sector AD Jayson Casavant
GraphXSpace=15;
pds=Param("Smoothing Periods",11,1,20,1);
Ad="~AD"+SectorID(1);
ADissues=Foreign(Ad,"C");
Dissues=Foreign(Ad,"O");
Advol=Foreign(Ad,"h");// High vol
Dvol=Foreign(Ad,"l");//low vol
addecvol=EMA(Sum(advol,pds),pds)-EMA(Sum(dvol,pds),pds);
Plot(addecvol,"AD VOL",IIf(addecvol>0,5,4),2);
Plot(EMA(adissues,pds)-EMA(dissues,pds),"A/d",1,1|styleOwnScale);
PlotGrid(0,colorWhite);
Title=SectorID(1)+ " Sector Advance/Decline"+"\n Advancing Issues "
+WriteVal(EMA(Adissues,pds),1.0)+" Declining Issues
"+WriteVal(EMA(dissues,pds),1.0);
-----Original Message-----
From: Yuki Taga [mailto:yukitaga@xxxxxxxxxxxxx]
Sent: Wednesday, September 24, 2003 4:48 AM
To: Jayson
Subject: Re: [amibroker] Sector and industry analysis
Hi Jayson,
Tutorial . . . please!!!! Tutorial!!!
Yuki
Wednesday, September 24, 2003, 1:59:48 PM, you wrote:
J> A lot of my work revolves around sector rotation. My methods may
J> not be exactly what is found on the larger sites who compare all
J> stocks in a given sector. Instead I filter my Universe of stocks
J> to around 700 based on min price, volume and institutional
J> ownership. I then create sector indexes with addtocomposite. From
J> there I compare the relative strength of each sector against the
J> universe and measure it using linregslope to watch for strength or
J> weakness on a daily basis. FWIW here are my findings (short term,
J> 7 days) as of the close of business today. The graphic shows the
J> current position of each sector as well as its history for the
J> last 9 days. The trend of each sector can be very telling. Notice
J> that while Internet has been out performing the Universe for 17
J> days that it is showing signs of weakness the last 3. This type of
J> behavior is a red flag for me that would encourage me to tighten
J> stops in long positions and perhaps look for bearish patterns for
J> Shorting opportunities.
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