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I am surprised also with your question, it seems you see only Long
trades. Nobody said to buy the top5, it would be better to sell them
all !!!
On the other side, RSI() was just an example, it could be the top5
MACD() or the top3 Equities of a trading system or , equally the
bottom3 of Stochastics...
Dimitris Tsokakis
--- In amibroker@xxxxxxxxxxxxxxx, Pushparaj Shanmugam
<pushshanmugam@xxxx> wrote:
> I usually don't post messages here. I am currently trying out
AmiBroker 4.4, satisifed with the features and planning to buy
AmiBroker 4.50.
>
> I am little surprised seeing this Ranking Study thread and
confused. What is the use of finding top 5 RSI stocks? RSI as a
indicator helps us to find out whether the stock is in overbought or
oversold condition. If we are buying top 5 overbought stocks then the
risk is very high because all those stocks may be well beyond their
proper base and due for correction. Could somebody please clarify the
idea behind this scan?
>
> Pushparaj
>
> DIMITRIS TSOKAKIS <TSOKAKIS@xxxx> wrote:
> Eric,
> here is another approach for the top5 RSI of a database:
>
> function naming( listnum,ORdNo )
> {
> list = GetCategorySymbols( categoryGroup, listnum );
> for( i = 0; ( sym = StrExtract( list, i ) ) != ""; i++ )
> {
> if(i==ORdno)
> {
> n1=sym;
> }
> }
> return n1 ;
> }
> function select( listnum )
> {
> list = GetCategorySymbols( categoryGroup, listnum );
> Rank = 0;
> for( i = 0; ( sym = StrExtract( list, i ) ) != ""; i++ )
> {
> SetForeign(SYM,True,True);
> E1=RSI();
> f=LastValue(E1);
> Rank[BarCount-1-i] = f[i];
> }
> return Rank ;
> }
> No=254;// replace 254 with your GroupNo
> R= Select(No);
> H0=Select(No);G=0;
> Plot(H0,"",2,2);
> G0=0;
> L1=LastValue(Cum(1));
> N=101;// the population of group254
> TOP=5;
> Counter=0;Title="Top"+WriteVal(top,1.0)+" RSI()"+"\n";
> for(K=1;K<=TOP;K++)
> {
> H1=LastValue(HHV(H0,n));
> BAR1=LastValue((ValueWhen(H0==H1,Cum(1)-1)));
> H0[BAR1]=-100000;
> Counter=Counter+1;
> G0[L1-CountER]=-H1;
> shape=33+2*((Counter-1)%10);
> PlotShapes((Cum(1)==bar1+1)*shape,Counter,0,Graph0,5);
> Title=Title+WriteVal(Counter,1.0)+")"+WriteVal(H1)+ " ["+WriteVal
(L1-
> bar1-1,1.0)+"-"+naming(254,L1-bar1-1)+"]"+ "\n";
> }
> Plot((Cum(1)>L1-N)*R,"",(H0==-100000)*6+4,2);
> Plot(0,"",1,1);
>
> I hope it is useful.
> Dimitris Tsokakis
> GraphXSpace=3;
> > > --- In amibroker@xxxxxxxxxxxxxxx, "ericleake" <eleake@xxxx>
wrote:
> > > > Making my first attempt at a very simple Relative Strength
> scan.
> > > > Using the ROC function, I'm able to create a RS number. I'm
> also
> > > > able to code a simple moving average qualifier for a buy
> signal,
> > > as
> > > > well as an exit.
> > > >
> > > > What approach should I use then to rank the securities by
their
> > > new
> > > > RS number, and buy say the top 5? Would the new Percentile
> > > function
> > > > be the way to handle this? Here is what I have so far:
> > > >
> > > > Filter = GroupID() == 0;
> > > >
> > > > RS = ROC(Close, 120);
> > > > Avg = EMA(Close, 28);
> > > >
> > > > Exit = Close < Avg;
> > > >
> > > >
> > > >
> > > > NumColumns = 3;
> > > > Column0Name = "RS Index";
> > > > Column0 = RS;
> > > >
> > > > Any help would be appreciated!
> > > >
> > > > -Eric.
>
>
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