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<FONT face=Arial color=#0000ff
size=2>Ken,
<FONT face=Arial color=#0000ff
size=2>
The
material submitted by Pal has absolutely nothing to do with the BOP study that
is part of TC2000. The Worden brothers actually got an injunction
against S&C magazine saying that they couldn't use Balance of Power as a
technical study since the name belongs to them.
<FONT face=Arial color=#0000ff
size=2>
I'm
not aware of anyone who has broken the BOP logic (as it works in TC2000).
Many have come up with something that closely approximates the TC2000 TSV
study.
<BLOCKQUOTE
>
<FONT face="Times New Roman"
size=2>-----Original Message-----From: Ken Close
[mailto:closeks@xxxxxxxx]Sent: Saturday, December 13, 2003 5:50
PMTo: amibroker@xxxxxxxxxxxxxxxSubject: RE: [amibroker]
Re: PositionScore IdeasPal, thanks for this (I think
:-) ). I initially thought you had messedup and copied the same
section many times, but upon closer reading, Isee each section is slightly
different than the last.It is not clear how close this will come to
the internal TC2000so-called "proprietary" indicator, nor how much time I
might have to docomparison tests of all of the
variations.Nonetheless, thanks for sharing it. What was the
source for thisinformation if I may ask? Also, do you have any
personal experiencewith it and the variations? Are you a
TC2000 user and have thus madecomparisons? Just fishing for info
that might make my research a littleshorter.Thanks
again,Ken-----Original Message-----From: palsanand
[mailto:palsanand@xxxxxxxxx] Sent: Saturday, December 13, 2003 5:10
PMTo: amibroker@xxxxxxxxxxxxxxxSubject: [amibroker] Re: PositionScore
IdeasFUNCTION: BOP: Bears Reward Based On Open Close
FORMULA: BOP_BearOpenClose DESC: Measure the bears ability to
move the closing price below the opening price relative to the trading
range for the day. NOTES: This function measures the bears
ability to move the closing price below the opening price relative to the
trading range for the
day.Parameters------------------Open
The open price of the security for each given
day.Close The close price
of the security for each given
day.High The high
price of the security for each given
day.Low The
low price of the security for each given day.Function
Value------------------------This function measures the bears ability
to move the closing price below the opening price relative to the trading
range for the day. Bears are considered to be pushing the price down from
its opening value.The function value varies between 0 (no effect)
and 1 (large effect).Usage-----------This function is
typically used in the calculation of the Balance of Power
indicator.Source------------This function is based on the
article "Balance of Power" by Igor Livshin in the July 2001 issue of
"Technical Analysis of Stocks and
Commodities".iif((C>O),0,(O-C)/(H-L))FUNCTION:
Balance Of Power FORMULA: BOP DESC: Measure
the strength of bulls versus bears by assessing their ability to push the
price to an extreme level using a reduced calculation.
NOTES: This function measures the strength of bulls versus bears by
assessing their ability to push the price to an extreme level using a
reduced
calculation.Parameters------------------Open
The open price of the security for each given
day.Close The close price
of the security for each given
day.High The high
price of the security for each given
day.Low The
low price of the security for each given day.Function
Value------------------------This function rates the ability of bulls
and bears to move the price by examining the high and low prices against
the opening and closing prices for each day. Bulls are considered to be
pushing the price up from its opening value. Bears are considered to be
pushing the price down from its opening value.The function value
varies between -1 (bearish) and 1
(bullish).Usage-----------This function is typically used in a
moving average to detect trends in whether price movements have been
bearish or bullish. Negative values indicate that the bears have been
controlling the price during the period of the average. Positiive values
indicate that the bulls have been controlling the price.This is
the reduced form of the Balance of Power function, which is derived from
the formula presented in the article. It returns the same value as the
orignal form Balance of Power function.Source------------This
function is based on the article "Balance of Power" by Igor Livshin in the
July 2001 issue of "Technical Analysis of Stocks and
Commodities".(C-O)/(H-L)FUNCTION: Balance Of Power
(Original Form) FORMULA: BOP1 DESC: Measure
the strength of bulls versus bears by assessing their ability to push the
price to an extreme level using the underlying
calculations. NOTES: This function measures the strength
of bulls versus bears by assessing their ability to push the price to an
extreme level using the underlying
calculations.Parameters------------------Open
The open price of the security for each given
day.Close The close price
of the security for each given
day.High The high
price of the security for each given
day.Low The
low price of the security for each given day.Function
Value------------------------This function rates the ability of bulls
and bears to move the price by examining the high and low prices against
the opening and closing prices for each day. Bulls are considered to be
pushing the price up from its opening value. Bears are considered to be
pushing the price down from its opening value.The function value
varies between -1 (bearish) and 1
(bullish).Usage-----------This function is typically used in a
moving average to detect trends in whether price movements have been
bearish or bullish. Negative values indicate that the bears have been
controlling the price during the period of the average. Positiive values
indicate that the bulls have been controlling the price.This is
the original form of the Balance of Power function, which is presented in
the article. It returns the same value as the normal Balance of Power
function, which has been derived from this
formula.Source------------This function is based on the
article "Balance of Power" by Igor Livshin in the July 2001 issue of
"Technical Analysis of Stocks and
Commodities".BOP_BullDaily(O,C,H,L) -
BOP_BearDaily(O,C,H,L)FUNCTION: BOP: Bulls Reward
Daily FORMULA: BOP_BullDaily DESC: Measure the
strength of bulls for a given day by assessing their ability to push the
price to an extreme level. NOTES: This function measures
the strength of bulls for a given day by assessing their ability to push
the price to an extreme
level.Parameters------------------Open
The open price of the security for each given
day.Close The close price
of the security for each given
day.High The high
price of the security for each given
day.Low The
low price of the security for each given day.Function
Value------------------------This function rates the ability of bulls
to move the price by examining the high and low prices against the opening
and closing prices for each day. Bulls are considered to be pushing the
price up from its opening value.The function value varies between
0 (no effect) and 1 (large effect).Usage-----------This
function is typically used in the calculation of the Balance of Power
indicator.Source------------This function is based on the
article "Balance of Power" by Igor Livshin in the July 2001 issue of
"Technical Analysis of Stocks and
Commodities".(BOP_BullOpen(O,H,L) + BOP_BullClose(C,H,L) +
BOP_BullOpenClose(O,C,H,L))/3FUNCTION: BOP: Bulls Reward Based
On Open Close FORMULA: BOP_BullOpenClose DESC:
Measure the bulls ability to move the closing price above the opening
price relative to the trading range for the day. NOTES:
This function measures the bulls ability to move the closing price
above the opening price relative to the trading range for the
day.Parameters------------------Open
The open price of the security for each given
day.Close The close price
of the security for each given
day.High The high
price of the security for each given
day.Low The
low price of the security for each given day.Function
Value------------------------This function measures the bears ability
to move the closing price above the opening price relative to the trading
range for the day. Bulls are considered to be pushing the price up from
its opening value.The function value varies between 0 (no effect)
and 1 (large effect).Usage-----------This function is
typically used in the calculation of the Balance of Power
indicator.Source------------This function is based on the
article "Balance of Power" by Igor Livshin in the July 2001 issue of
"Technical Analysis of Stocks and
Commodities".iif((C>O),(C-O)/(H-L),0)FUNCTION: BOP:
Bears Reward Based On Close FORMULA:
BOP_BearClose DESC: Measure the bears ability to move the
closing price down from the high price relative to the trading range for
the day. NOTES: This function measures the bears ability
to move the closing price down from the high price relative to the trading
range for the
day.Parameters------------------Close
The close price of the security for each given
day.High The high
price of the security for each given
day.Low The
low price of the security for each given day.Function
Value------------------------This function measures the bears ability
to move the closing price down from the high price relative to the trading
range for the day. Bears are considered to be pushing the price down from
its opening value.The function value varies between 0 (no effect)
and 1 (large effect).Usage-----------This function is
typically used in the calculation of the Balance of Power
indicator.Source------------This function is based on the
article "Balance of Power" by Igor Livshin in the July 2001 issue of
"Technical Analysis of Stocks and
Commodities".(C-L)/(H-L)FUNCTION: BOP: Bulls Reward Based
On Close FORMULA: BOP_BullClose DESC: Measure
the bulls ability to move the closing price up from the low price relative
to the trading range for the day. NOTES: This function
measures the bulls ability to move the closing price up from the low price
relative to the trading range for the
day.Parameters------------------Close
The close price of the security for each given
day.High The high
price of the security for each given
day.Low The
low price of the security for each given day.Function
Value------------------------This function measures the bulls ability
to move the closing price up from the low price relative to the trading
range for the day. Bulls are considered to be pushing the price up from
its opening value.The function value varies between 0 (no effect) and
1 (large effect).Usage-----------This function is typically
used in the calculation of the Balance of Power
indicator.Source------------This function is based on the
article "Balance of Power" by Igor Livshin in the July 2001 issue of
"Technical Analysis of Stocks and
Commodities".(C-L)/(H-L)FUNCTION: BOP: Bears Reward
Based On Open FORMULA: BOP_BearOpen DESC:
Measure the bears ability to move the low price down from the opening
price relative to the trading range for the day. NOTES:
This function measures the bears ability to move the low price down
from the opening price relative to the trading range for the
day.Parameters------------------Open
The open price of the security for each given
day.High The high
price of the security for each given
day.Low The
low price of the security for each given day.Function
Value------------------------This function measures the bears ability
to move the low price down from the opening price relative to the trading
range for the day. Bears are considered to be pushing the price down from
its opening value.The function value varies between 0 (no effect)
and 1 (large effect).Usage-----------This function is
typically used in the calculation of the Balance of Power
indicator.Source------------This function is based on the
article "Balance of Power" by Igor Livshin in the July 2001 issue of
"Technical Analysis of Stocks and
Commodities".(O-L)/(H-L)FUNCTION: BOP: Bulls Reward
Based On Open FORMULA: BOP_BullOpen DESC:
Measure the bears ability to move the high price up from the opening price
relative to the trading range for the day. NOTES: This
function measures the bears ability to move the high price up from the
opening price relative to the trading range for the
day.Parameters------------------Open
The open price of the security for each given
day.High The high
price of the security for each given
day.Low The
low price of the security for each given day.Function
Value------------------------This function measures the bears ability
to move the high price up from the opening price relative to the trading
range for the day. Bulls are considered to be pushing the price up from
its opening value.The function value varies between 0 (no effect)
and 1 (large effect).Usage-----------This function is
typically used in the calculation of the Balance of Power
indicator.Source------------This function is based on the
article "Balance of Power" by Igor Livshin in the July 2001 issue of
"Technical Analysis of Stocks and
Commodities".(H-O)/(H-L)FUNCTION: BOP: Bears Reward
Daily FORMULA: BOP_BearDaily DESC: Measure the
strength of bears for a given day by assessing their ability to push the
price to an extreme level. NOTES: This function measures
the strength of bears for a given day by assessing their ability to push
the price to an extreme
level.Parameters------------------Open
The open price of the security for each given
day.Close The close price
of the security for each given
day.High The high
price of the security for each given
day.Low The
low price of the security for each given day.Function
Value------------------------This function rates the ability of bears
to move the price by examining the high and low prices against the opening
and closing prices for each day. Bears are considered to be pushing the
price down from its opening value.The function value varies
between 0 (no effect) and 1 (large
effect).Usage-----------This function is typically used in the
calculation of the Balance of Power
indicator.Source------------This function is based on the
article "Balance of Power" by Igor Livshin in the July 2001 issue of
"Technical Analysis of Stocks and
Commodities".(BOP_BearOpen(O,H,L,C) + BOP_BearClose(C,H,L) +
BOP_BearOpenClose(O,C,H,L))/3rgds, Pal--- In
amibroker@xxxxxxxxxxxxxxx, "Ken Close" <closeks@xxxx> wrote:>
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:> > "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@xxxx] > 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 /
Ref(C,-62)) * 0.4 ) + ( (Ref(C,-63) / Ref(C,-125)) * 0.2> ) + (
(Ref(C,-126) / Ref(C,-188)) * 0.2 ) + ( (Ref(C,-189) /> Ref(C,-251)) *
0.2 );> > > > 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@xxxx> wrote:> > QRS is
updated daily and goes as far back as 6/1/1995 in the QP2>
database.> > 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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