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Bullish Percent Index (BPI)
Some notes for comment on getting started with this exercise. This I hope
will provide a framework for creating a usable BPI.
Ok, although there are no standard box sizes that we can use for all
markets, and the box size does need to vary with price ranges anyway. A $1
box size is ok for $100 stock, but no good for a $10 stock. Also all stocks
have different prices in their history, so the box size needs to suit them,
so that you have the capability to backtest.
Maybe if stick to a box size of 1% of the price, and reverse of 3% (ie 3 box
reversal)
Alternative box sizing can be via a series of stepped values of box for the
various price range steps. eg $2.01 to $5 is 0.02 & $5.01 to $10 is 0.05
etc. There are various arrangements available for this depending on the
source you read.
Here is a bit of reading I have found relating to P&F and BPI
http://206.155.168.119/cgi-bin/foxweb.exe/D:/foxapps/fwuniv?email=&doc=gloss
ary.html&quick=N
(this is PnFUniversity and has a good set of notes on basic P&F construction
and uses)
http://stockcharts.com/support/pnfCharts.html
http://www.investorsintelligence.com/x/869n.html?_S=6IiQwP57UhgP2wgkV6QjUFtm
jDtyH#fbc
(chartcraft)
http://www.ez-pnf.com/ezpnf22u.htm
http://www.archeranalysis.com/beb/index.html
(bullseye)
http://www.incrediblecharts.com/technical/pnf_charting.htm
Basic P&F construction would be as most of them are done as I have
researched. We just need some agreement on framework for the development of
BPI. Some details can be tailored by the individuals after it is usable,
like actual box sizes.
1. Continue in current direction while new boxes are made.
2. If no new box, then has reversal occurred - if yes, then new column, if
no then back to one.
Having done a bit in construction of P&F charts I feel this is probably a
reasonable starting way of constructing the BPI
1. Convert all prices to equivalent boxes, rounded to full boxes so only
integers are used. This allows for a varying box size through the charts and
simplifies the process. As we do not actually need to create pretty P&F
charts for each stock we can simplify things requiring only the box
positions and direction. In effect we have a staircase type result of price
movements, and a running direction indicator ( up/down ). Another item to
keep in memory is the previous high point of the last rising "column".
2. From what I can garner from the data on BPI it determines the number of
stocks making bullish signals. These are when the rising column breaks above
the price of the previous rising column.
###### What I am not completely certain is whether the stocks continue to be
included for subsequent rising boxes after it is higher than the previous
rising high?????? Some help on this would be useful.
3. So after we have done the above and created a composite ticker of the
basket of stocks we convert this ticker into usable chart and/or exploration
result. I notice the BPI is often shown as a P&F chart.
Comments appreciated on the above.
If no interest then it can just float away into the sunset :), or if this is
not wanted and clutters up inboxes can move to alternative AB yahoo group.
Cheers,
Graham
http://e-wire.net.au/~eb_kavan/
-----Original Message-----
From: bluesinvestor [mailto:bluesinvestor@xxxxxxxxxxxxx]
Sent: Tuesday, June 29, 2004 11:56 AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: RE: [amibroker] Bullish Percent Charts
Graham,
I too pursued this a while back and think that the newest versions of AB
would make it easier to accomplish Bullish Percents.
However, I think you are trying to run before you can crawl. I think
traditional (boxsizes) chart buys/sells for BP's, instead of dynamic
boxsizes (although I am intrigued), would be a better starting point.
This way the BP's would be on par with Stockcharts.com and/or Dorsey Wright.
Just my 2c. Looking forward to open dialog on this as time permits.
Regards,
Peter
> -----Original Message-----
> From: Graham [mailto:gkavanagh@xxxxxxxxxxxxx]
> Sent: Monday, June 28, 2004 10:15 PM
> To: amibroker@xxxxxxxxxxxxxxx
> Subject: RE: [amibroker] Bullish Percent Charts
>
> If there is any interest in making the BPI for AB, I could try coding it.
> But I need some input on how to interpret and produce it.
> For a starter here is a "maybe" approach
> Create a composite that contains the total moves for the stocks. This
> would
> be in real time and be compressed later for charting.
> One thing that needs attention and is often a thing of personal preference
> is the box sizing. I have developed a system for another chart type that
> takes the box sizing from the chart moves by using an average of the bar
> to
> bar moves and std devn of the moves. This can create a dynamic box size
> that
> varies with the volatility.
>
> So if anyone is interested in pursuing this, and providing help in
> producing
> it let me know. If others are not interested in following this we could
> then
> take the development process elsewhere for our discussions. (maybe even
> the
> Amibroker-afl yahoo group site.)
>
> Cheers,
> Graham
> http://e-wire.net.au/~eb_kavan/
>
> -----Original Message-----
> From: Graham [mailto:gkavanagh@xxxxxxxxxxxxx]
> Sent: Tuesday, June 29, 2004 7:07 AM
> To: amibroker@xxxxxxxxxxxxxxx
> Subject: RE: [amibroker] Bullish Percent Charts
>
> There are a few programs that offer it built in
> >From memory PFscan, Bulls-Eye Broker have it
>
> It was something developed 50 years ago by chartcraft, so nothing new.
>
> I did a rough attempt at it some time ago, but I think the enhancements in
> AB since then would make this easier for someone to write a new one.
>
> Cheers,
> Graham
> http://e-wire.net.au/~eb_kavan/
>
> -----Original Message-----
> From: mrdavis9 [mailto:mrdavis9@xxxxxxxxxx]
> Sent: Monday, June 28, 2004 10:38 PM
> To: amibroker
> Subject: [amibroker] Bullish Percent Charts
>
> Below, I have pasted a message that I posted on the Holygrail board with a
> response to it. Do one of you one of you Gurus want to try to see if he
> is
> actually correct when He states that only Stockcharts offers Pullish
> Percent
> charts? BTW, I imagine that by now, you are all well aware that I
> should be the poster boy of Non-Programmers. Ron D.
>
>
> =========================================================
> Hi Ron,
>
> "You feel like you are in Camelot when you are using
> Amibroker."
>
> Ah, come on Ron. Camelot? Camelot?? Ron, are you are a
> programmer? I'm not so when I use AB, I feel like I am in the
> dungeon. lol
>
> Acutally, I find Metastock much easier to use and learn than AB. MS
> seems to have more indicators pre-loaded than AB. For instance,
> AB's standard list of formulas doesn't even include %R. Plus, MS
> offers phone support as well as email. And unless I am missing
> something, only Stockcharts offers Bullish Percent charts as
> compared to MS and AB.
>
> David
>
>
> --- In holygrailsm@xxxxxxxxxxxxxxx, "mrdavis9" <mrdavis9@xxxx> wrote:
> > PROBABLY THE MOST IMPORTANT POINT OF ALL IS THE SUPPORT SYSTEM.
> Email
> > your question any time of the day or night to the yahoo group, and
> you will
> > have answers within minutes to a few hours.
> >
> > Sometimes I can't go to sleep because I drink coffee later in the
> day than I
> > should. When this happens, I just go into my office, and try out
> new coding
> > Ideas in Amibroker. When I have a question at 2 or 3 AM: CST, I
> email it to
> > the Yahoogroup, and almost always have an answer within 10
> minutes, usually
> > from Australia. When I email questions during the day, the
> answers come
> > from all over the world. The yahoogroup sometimes is very
> entertaining,
> > especially Yuki, the brilliant housewife in Japan.
> >
> > I know way less than 1/100th of what Amibroker offers, but I what
> I know
> > serves me very well. You feel like you are in Camelot when you are
> using
> > Amibroker. Ron D
>
>
>
>
> Check AmiBroker web page at:
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>
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>
> Check AmiBroker web page at:
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>
> Check group FAQ at:
> http://groups.yahoo.com/group/amibroker/files/groupfaq.html
> Yahoo! Groups Links
>
>
>
>
>
>
>
>
> Check AmiBroker web page at:
> http://www.amibroker.com/
>
> Check group FAQ at:
> http://groups.yahoo.com/group/amibroker/files/groupfaq.html
> Yahoo! Groups Links
>
>
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>
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