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Gary/Phsst: now that is interesting.
VectorVest has a “proprietary”
“Relative Strength” indicator called RT, which some on another list
have said is approximated by C/Ref(C,-65), along with some weighting
scheme. Talk about everyone drinking out of the same cup.
TC2000 has a thing called BOP (Balance of
Power), but I have never seen an approximation of it much less a description of
what it attempts to do. Nix that, here is something from the TC2k Help files:
“<span
>BOP fits into a category
of devices that can be termed "trend quality" indicators. A variety
of methods lead naturally to buy and sell signals. What BOP tells you is
something about the quality of the underlying trend. Not itself a pinpoint timing
indicator, BOP will modify your assessment of the vital risk-reward ratio of a
trade or investment. It will help you determine whether the supply-demand
balance will be in your favor. It will help you spot changes of character in a
stock's action.
“
Ken
-----Original Message-----
From: Gary A. Serkhoshian
[mailto:serkhoshian777@xxxxxxxxx]
Sent: Saturday, December 13, 2003
1:16 PM
To: amibroker@xxxxxxxxxxxxxxx
Subject: Re: [amibroker] Re:
PositionScore Ideas
Hi Phsst,
Thanks for that suggestion, as I'd never stumbled across it
before. QP has a great explaination in help which I've posted below in
addition to my translation into AFL which just offers the raw relstr numbers
which is good enough. If anyone wants to beautify the code with the
ranking from 0 to 99, by all means tear it up.
Value-added as always Phsst : ). Kind Regards, Gary
QRSRAW =
( (C / <span
>Ref(C,-<font
color=fuchsia>62)) * <font
color=fuchsia>0.4 ) + ( (<font
color=blue>Ref(<span
>C,-<span
>63) / <span
>Ref(C,-<font
color=fuchsia>125)) * <font
color=fuchsia>0.2 ) + <font
face=Arial>( (<span
>Ref(C,-<font
color=fuchsia>126<span
>) / Ref(<span
>C,-<span
>1<span
>88)) * 0.2 )
+ ( (Ref(<span
>C,-<span
>189) / Ref(<span
>C,-<span
>251)) * 0.2 );
<font size=5 color=navy
face="Times New Roman">Quotes Plus Relative Strength Indicator
The
Quotes Plus Relative Strength indicator is calculated for each issue each day,
and becomes part of the data you download to your PC. The indicator ranks each
issue in the database against every other issue in the database, based on its
performance for the last 12 months.
Every
issue is ranked from 0 to 99 so that its rank is equal to the percentage of
issues that it has outperformed over the previous 12 month period. A rating of
92, for example, means that the issue has outperformed 92% of all of the issues
in the database.
The
formula is :
( Current
Close / Close from 62 trading days ago ) * .4
+ ( Close
from 63 trading days ago / Close from 125 trading days ago ) * .2
+ ( Close
from 126 trading days ago / Close from 188 trading days ago ) * .2
+ ( Close
from 189 trading days ago / Close from 251 trading days ago ) * .2
This
value is sorted for all of the issues, and the top 1% of issues get a value of
99. The other issues are ranked similarly, down to the bottom 1%, which get a
value of 0.
Phsst <phsst@xxxxxxxxx>
wrote:
QRS is updated daily and goes as far back as 6/1/1995 in the QP2
database.<span
>
Just a suggestion... set aside whatever
preconcieved notions you may
have about this and take the time to research it
and do a little due
diligence. You might be glad you did.
--- In amibroker@xxxxxxxxxxxxxxx, "Al
Venosa" <advenosa@xxxx> wrote:
> Thanks, Phsst. I'm a QP2 user also. But all
those QP2 GetExtraData
variables are not updated daily, so I don't think
they would be useful
for a short-term trading system like I was talking
about. Using
PositionScore over a modest time period, you'd get
the same 4 stocks
all the time, wouldn't you, or at least until they
get updated.
Perhaps QRS gets updated weekly, so maybe that
wouldn't be as bad, but
I think I'd like something that is more reflective
of the trade system
duration, in other words, something that I can
update daily at EOD.
>
>
> ----- Original Message -----
> From: Phsst
> To: amibroker@xxxxxxxxxxxxxxx
> Sent: Saturday, December 13, 2003
12:26 PM
> Subject: [amibroker] Re:
PositionScore Ideas
>
>
> Al,
>
> My favorite is the QP2 QRS value
(GetExtraData("QRS"). The QP2 QRS
> value is supposed to be a
'knockoff' of the IBD RS ranking score.
>
> I almost always get a significant
boost using this ranking figure as
> as the positionscore.
>
> If you do not have QP2, but have
any ideas about how to do your own RS
> Rank calculation, I'd be happy to
run some comparisons for you (or
> anyone else) to measure your
calculated RS Rank against QP2's QRS
rank.
>
> Cheers,
>
> Phsst
> --- In amibroker@xxxxxxxxxxxxxxx,
"Al Venosa" <advenosa@xxxx> wrote:
> > Hi, all:
> >
> > I've been experimenting with
variuos short term trading systems
> lately (average trade durations
of about 2.5 days), and I was looking
> for ideas on how best to rank a
watchlist to get the best candidates
> for portfolio trading a basket of
4 stocks. I was wondering if anyone
> would care to share any ideas on
how you use the PositionScore
> function to rank your candidate
list (using regular mode, not
> rotational mode). I've tried
combinations of turnover and volatility,
> but I'd like to try other ideas.
I'm not asking anyone to give away
> any secrets, and, yes, I am aware
of TJ's example in the help file
> (PositionScore = 100 -RSI());),
but I was just looking for more ideas.
> I'm not even sure if this
question is too vague or not. If it is, I'm
> sure you'll tell me. TIA.
> >
> > Al Venosa
> > advenosa@xxxx
> >
> >
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