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I had to look up the indicator to see what you $BPCOMPQ referred to.
It's certainly doable. I'll have to think about the how of it, and
wouldn't be surprised if someone jumped right in or had crelated code
already.
The Bullish Percent Index (BPI) is a popular market breadth indicator
that is calculated by dividing the number of stocks in a given group
(an exchange, an industry, etc.) that are currently trading with
Point and Figure buy signals, by the total number of stocks in that
group. Bullish Percent levels that are above 70% are considered
overbought, whereas levels below 30% are considered oversold. Strong
buy signals occur when the Bullish Percent Index falls below 30% and
then reverses up by at least 6%. Conversely, promising sell signals
occur when it goes above 70%, and then reverses down by at least 6%.
--- In amibroker@xxxxxxxxxxxxxxx, "Joe Landry" <jelandry@xxxx> wrote:
> I'm also interested in an AB composite that I can use as a backtest
signal and on a daily basis that will generate the following.
>
> http://stockcharts.com/def/servlet/SC.web?c=$bpcompq,uu[m,a]daclyyay
[df][pb50!b200][vc60][iub14!la12,26,9]
>
> It's a long term signal and based on the NASDAQ composite and not
NDX100, but the word from a repected local trader has this as
the 'ultimate' signal. Maybe too long term for most of you since I
have the plot on a 3 year time frame.
>
> A couple of months ago I went into the archives and picked up the
AFL code posted there to create P&F charts, thinking I could create a
composite(ATC), in a manner like someone would use to create a plot
of new highs, or % stocks in an uptrend, or % above 30 day MA, etc.
but I got totally lost on the fact that P&F does not plot out on a
continuous scale(bars). Obviously some education on P&F is needed on
my part.
>
> Best regards
> JOE
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