|
PureBytes Links
Trading Reference Links
|
My point is this:
Is the original intention of this scan is finding high relative strength stocks which are beating the market or just finding high RSI stocks? If the intention is finding high Relative Strength stocks then RSI is not the right choice to do that. Main reason is RSI is not taking any other stocks into consideration - The RSI compares the magnitude of a stock's recent gains to the magnitude of its recent losses and turns that information into a number that ranges from 0 to 100.
http://stockcharts.com/education/IndicatorAnalysis/indic_RSI.html
The original mail of this thread stated that trying to find out the high RS rank stocks.
Pushparaj
DIMITRIS TSOKAKIS <TSOKAKIS@xxxxxxxxx> wrote:
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.> > > Yahoo! Groups SponsorADVERTISEMENT> > Send BUG REPORTS to bugs@xxxx> Send SUGGESTIONS to suggest@xxxx> -----------------------------------------> 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. > > > ---------------------------------> Do you Yahoo!?> Free Pop-Up Blocker - Get it nowSend BUG REPORTS to bugs@xxxxxxxxxxxxxSend 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.
Do you Yahoo!?
New Yahoo! Photos - easier uploading and sharing
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.
|