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Hello Dave,
glad that I could help.
When using the Scan function in AB Analysis, it expects a signal
variable for Buys, Sells, Short or cover. The scan function is
normally used with tradingsystems and checks for defined buy, sell
signals.
As with the exploration function, a filter is also requested, hence
the Filter =1
One further tip regarding the filter in the formula :
I use : Filter=MA(close,30)>=3 and MA(volume,30)>=70000;
Reasoning :
The TC 2000 database ( and QP as well ) holds 7000+ stocks, many of
them priced under 3$ or thinly traded issues with trading volumes of
less than 70.000 shares a day.
Since the addtocomposite function would inlcude all these stocks
with low trading volumes and low prices, they gain a larger
importance in the composite data as they have in reality.
Hence the filter for stocks with a closing price of at least 3$ over
the past 30 days and with an average tradingvolume of at least 70000
shares a day.
I think, this gives a better picture of whats going on in the market.
This has nothing to do with the filter settings in the analysis
window itself, where you could use additional filters such as
watchlists, groups, industries etc.
Make sure, you don't have any ETF's or index symbols in thegroup you
apply the addtocomposite function to. ETF's are already composites
and you wouldn't want to have the stocks they hold counted twice in
your composites. ETF's are usually part of the financial sector, so
they should be excluded from the scan when creating composites.
This can be achived by using the filter in the analysis window by
selecting the appropriate industry group for ETF's in the "Exclude"
selection window.
Hope this helped.
regards
Stefan
--- In amibroker@xxxxxxxxxxxxxxx, "davelansing2004" <d.ankrapp@xxxx>
wrote:
> --- In amibroker@xxxxxxxxxxxxxxx, "sgfuchs" <sgfuchs@xxxx> wrote:
> Hi Stefan,
>
> Thank you for the code... it works great! One question, what's the
> purpose of having the "Filter = 1" code? I ran several scans on a
few
> industry groups with and without the code, and the composites
looked
> the same.. also, in my original code I included the line "Buy =
0",
> but you have "Buy=Sell=Short=Cover=0"... what am I missing in my
> understanding of the AddToComposite function? Thanks again!
>
> > For Industrygroup composites use :
> > sym="~"+IndustryID(1);
> > AddToComposite(L,sym,"L");
> > AddToComposite(O,sym,"O");
> > AddToComposite(H,sym,"H");
> > AddToComposite(C,sym,"C");
> > AddToComposite(V,sym,"V");
> > Buy=Sell=Short=Cover=0;
> > Filter=1;
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