Joe,
Actually, to be quite
specific…
A major advantage of
TC2005 is its Sectors and Industries. Worden maintains both the
Sector/Industry groupings and symbols for each Sector and Industry. I
believe this to be one of their strongest benefits.
After I imported the
TC Industries and Sectors, I set up each Industry with the TC symbol for that
industry (Symbols à Categories
à
Industries). Since each Stock symbol is mapped to an
industry, the Industry symbol can be used for relative strength analysis in
Charts and Scans. The AFL for Relative Strength to Industry
is:
RelStrengthSymbolToIndustry
= RelStrength(GetBaseIndex());
Regarding Sectors, I
chart all of the TC Sectors in 6 panes on two charts as a set of lines.
It makes it easier to analyze them.
Like Patrick, I’d
like to see Worden publish only the data, expose more of their attributes in
their API (currently only Money Stream and BOP), and provide full access to
intraday data in their API.
Unfortunately, Worden
tends to be a bit “idiosyncratic”. Instead of focusing on
their strengths, they spent massive amounts of time and energy with a
stand-alone tool call Worden Studio which doesn’t integrate with TC and is
very poor compared to competitive products (like StockCharts). When I
took them to task on the issue, they condescendingly pointed out that I just
didn’t know how to use the tool. (Not once, but several
times.) So, I wrote them off as non-communicative and not a
serious vendor of charting tools.
In some respects, a
similar company is IBD. AFAIK, IBD is the only other company that
has strong Sector and Industry groupings with some charting and scanning at
the Industry and Stock level. And, their analysis is pretty
good. That’s the good news…
The bad news is that
IBD is a serious hassle to deal with. They are very expensive, their
charting tools and scanning are very poor and they do not expose their data
through an API. The only way to export some of the
data is using a manual export process. They’re still working in
the dark ages of stock analysis – lots of marketing with modest content,
packaged in a proprietary interface.
Hopefully, Worden and
IBD will get their act together and start meeting customers’ needs instead of
using a “marketing by navel gazing” strategy. Like many
companies, they have some good product features to offer, but leave lots money
on the table because of their inability to package and market them
effectively.
Regards,
Dan.
From:
amibroker@xxxxxxxxxxxxxxx
[mailto:amibroker@xxxxxxxxxxxxxxx]
On Behalf Of Joe
Landry
Sent: Tuesday, June
21, 2005 5:41 AM
To:
amibroker@xxxxxxxxxxxxxxx
Subject: Re: [amibroker] TC2005 &
Amibroker
Patrick and Dan - I
stand corrected and appreciate the very thorough analysis and discourse on
your
parrt - an
excellent use of the forum.
Correctly I should
have said -TC2000 for simple and quick scans, reliable data feed
but weak mutual fund data and market
breadth.
QP3 has both
and a great depth of what I'm calling market internals or breadth data for all
US markets., advance/declines, high/lows, up /down
volumes.
For other
indices like R2000, I have to develop and run daily as
composites.
However I should ask,
how do you get a comparable organization of industry groups in AB if
you
don't have TC2000 as
your data feed?
On the plus side for
AB don't forget the backtesting and optimization with native AB optimization
or with the
optimizer called IO by Fred Tonetti.
----- Original Message -----
Sent: Monday,
June 20, 2005 10:49 PM
Subject: Re:
[amibroker] TC2005 & Amibroker
Hi all,
I have to agree with Dan -- TC2005 is ok for data, and
perhaps some very
simple fast
sorts.
I use ATR as an
indicator of preference for sorting -- in AB it's built in
and I can build complex
varieties of AA output based on it. In TC2005, it's
about 32+ operations of code to
produce an ATR(10). Then there's ADX (not
available for scans, just sorting on their static
indicator), and CCI,
forget it, etc. I too do some stuff like Dan
discribes, but only in AB as
TC2005 won't support it. If any further plug for AB
is needed, I'll note
that one
can automate the output from the exploration or scan to a watchlist
as part of the
code.
So for research,
sophisticated scans and ease of use (once you learnit), AB
is a no brainer. Too bad
one can't just buy TC2005 data at a discount
without the charts, etc., as it generally is good data (a
few minor
exceptions of
course). Still it's not that expensive -- my commissions are
an order of magnitude greater
each month, sometimes two.
Peace and Justice ---
Patrick
(Dan - we'll see how
this post does for time, I saw your last was only about
8 min
delayed)
----- Original
Message -----
From: Dan
Clark
To: amibroker@xxxxxxxxxxxxxxx
Sent: Monday, June 20, 2005 8:02
PM
Subject: RE: [amibroker]
TC2005 & Amibroker
I
have to disagree a bit with Joe.
I agree if all you want to do is perform BASIC scans and
filters. Very
basic!
But the problem with TC is that you quickly run into a
wall.
For example, using
Linear Regression lines, I perform a scan
where:
1) the stock is in a
list of tradable symbol and
2)
the long term trend of a symbol is up, and
3) the short term trend is down,
and
4) the short term trend of
Twiggs Money Flow is up (divergence), and
5) the symbol is NOT in a list of manually excluded
symbols, and
6) the symbol is
NOT already in a target short list
7) the symbol is NOT already in a target long
list.
I tried this in
TC.
Number 1 is
easy.
Numbers 2, 3 and 4 (using
Money Stream instead) are a 19 step manual
process!!!
Numbers 5, 6 and 7 are NOT
possible!!!
TC has its
benefits. But sophisticated scanning is NOT one of
them.
As you probably
already figured out, I use TC for data only.
Regards,
Dan.
From: amibroker@xxxxxxxxxxxxxxx [mailto:amibroker@xxxxxxxxxxxxxxx] On Behalf
Of Joe
Landry
Sent: Monday, June 20,
2005 4:59 PM
To: amibroker@xxxxxxxxxxxxxxx
Subject: Re: [amibroker] TC2005 &
Amibroker
If all you want to
do is scans/filters then TC2005 will be all you
need.
However if you ever
want to backtest or use a custom indicator that the
Worden brothers didn't include
in their
package then you're out
of luck.
When I subscribed
to TC2000 it was for the data, preliminary scans, and
industry groups. Now I'm
using
QP3, quotes plus 3 for
mutual funds and stocks for less than TC2000, but I
don't get intraday delayed
quotes
on stocks. I do get
realtime data from my broker but I can't run the signal
routines that will tell me if a
signal will
trip before the
close.
Best
regards
JOE
-----
Original Message -----
From:
skilletlicqor
To:
amibroker@xxxxxxxxxxxxxxx
Sent: Monday, June 20, 2005 6:42
PM
Subject: [amibroker] TC2005
& Amibroker
I notice
there are a number of users of both TC2005 and Amibroker.
I
currently use TC2005 and am on
the trial month for Amibroker. I'm
very impressed with Amibroker and wonder what those of
you who use
both do in TC2005
that you can't do in Amibroker. Or is TC2005
just
for the data? I haven't
worked with AFL much but I assume that it is
capable of performing any scans that I can do with
TC2005. Is this
not the
case?
I'm on a tight budget and
can probably only afford one of these
programs right now.
Thanks for
replies.
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