|
PureBytes Links
Trading Reference Links
|
Yuki,
I see what you mean, that example could use a little help! I'll try and explain this the best I can. There are two types of relative strength: relative strength (RSI) of a security against itself and relative strength of a security to another security or index, derivative, etc. When you use the RSI index it is essentially a relative strength comparison of a security to itself over a designated time period ~ if there was no time period set your software will plot a flat line! When comparing a security to another security or index there is no need to select a time period because you are comparing apples to oranges not apples to apples. The two securities are completely independent whereas when comparing a security to itself you need to use a time period to have some frame of reference to go off.
I suppose you could select a time period to run a scan to see how stock X did against the Topix over a one month period ~ that's perfectly reasonable. There's a ton of different ways to use the comparative rel strength indicator; you can apply moving averages and trade off crossovers, use LT and ST moving averages to determine to overall health of the trend. Actually, that is a way in which you can use time in the comp relative strength indicator - use different moving average periods. I have two different rel strength panes I use: a 10 & 30 day MA on my shorter term rel strength and then 50 & 100 period MAs on the longer term pane. The shorter one will trigger signals much more quickly, and you could use it as a buy signal. Then if you are a longer term trend trader pay more attention to the longer term rel str MAs to reduce turnover.
Another thing you do is buy MArtin Pring's "Technical Analysis Explained, 4th Edition". It covers this concept in great detail and it's pretty cheap too. I paid $24 USD on traderslibrary.com ~ I'm sure they ship to Japan. Well worth the money. I've probably read close to 100 different TA books and this is one of my favorites...... a great reference book. Hope this helps!
Jason
Rakesh Sahgal <rakeshsahgal@xxxxxxxxx> wrote:
Here is what I do:
[1] I generate industry indices using AB.
[2] all the indisutry indices are marked as indexes
using the property (index check box).
[3] They are kept in a separate group. The base index
for this group is set as the broad market index which
in my case is the NSE500. You could set any that is
relevant to your market.
[4] This gives you the relative strength of each
sector vis-a-vis the broad market.
HTH
Regards
Rakesh
--- Yuki Taga <yukitaga@xxxxxxxxxxxxx> wrote:
> The docs are (stop me if you have heard this one
> before) not so
> helpful for me. ^_-
>
> On the Tokyo exchange, there are 33 sub indices. I
> would like to
> compare all 33 sub indices against broader market
> averages. This is
> comparative RS, as I understand it.
>
> I have poured over the list archives, but I have
> uncovered nothing
> that allows me to explore and return values for each
> of the 33 sub
> indices compared to, say, the TOPIX (^IXJ) index.
> When I try to plot
> RS of various sub indices, I get numbers than are
> not bounded by 0 to
> 100, which seems odd to me.
>
> When I look up RS in the help file, I find nothing
> about periodicity,
> which I also find rather strange. Certainly
> comparative RS must be
> measured over some period of time, must it not? Am
> I completely
> nuts?
>
> In the docs, I find, as an example:
>
> EXAMPLE relstrength( "^DJI" )
>
> I'm sorry, but for someone out there, I'm sure this
> is an example.
> For me, it's just absolutely meaningless. It is so
> far from helpful
> that it may as well not even be there. ^^_^^
>
> Yuki
>
> P.S. An *example* is a *fully* *explained* way of
> using or employing
> something, not a cryptic, MAN-page-esque assumption
> that the reader
> knows something that, in fact, the reader my have
> absolutely no
> understanding about. This (above) is not an
> example! Think about
> it. There is no explanation of why the "example"
> doesn't follow the
> pattern of the syntax, or whether that is even
> important. There is
> not even a semi-colon after the statement, something
> I am reasonably
> sure would be necessary. It is NOT an example . . .
> of anything. I
> am sorry.
>
> I should think, at the very least, someone is going
> to try and get
> something out of an exploration with this
> information. An
> appropriate addcolumn() statement as an example
> would be a fine why
> to go about this. One might actually learn
> something.
>
> USAGE is what is important, NOT abstract theory.
> People want to know
> how to USE this information, with examples.
>
> TJ, I understand your frustration. Please try and
> understand mine. I
> go through documents for hours. It is a circular
> and incredibly
> time-wasting fishing trip, usually. And I am
> nothing if not stupid.
> But I do not come at this from a mathematical or
> programmatic
> background.
>
>
__________________________________
Do you Yahoo!?
Check out the new Yahoo! Front Page.
www.yahoo.com
Check AmiBroker web page at:
http://www.amibroker.com/
Check group FAQ at: http://groups.yahoo.com/group/amibroker/files/groupfaq.html
Yahoo! Groups SponsorADVERTISEMENT
---------------------------------
Yahoo! Groups Links
To visit your group on the web, go to:
http://groups.yahoo.com/group/amibroker/
To unsubscribe from this group, send an email to:
amibroker-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
---------------------------------
Do you Yahoo!?
Check out the new Yahoo! Front Page. www.yahoo.com
[Non-text portions of this message have been removed]
------------------------ Yahoo! Groups Sponsor --------------------~-->
Make a clean sweep of pop-up ads. Yahoo! Companion Toolbar.
Now with Pop-Up Blocker. Get it for free!
http://us.click.yahoo.com/L5YrjA/eSIIAA/yQLSAA/GHeqlB/TM
--------------------------------------------------------------------~->
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
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/amibroker/
<*> To unsubscribe from this group, send an email to:
amibroker-unsubscribe@xxxxxxxxxxxxxxx
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
|