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If you want to view the relative price movements of 3 securities together
-open all 3 secs charts "side by side"
-for each of the secs drag the Performance Indicator down from
the Indicator Quick List to its inner window
-copy/drag last 2x Performance Indicators to the first one's inner window
-see further below for more details on the Perfromance Indicator
-see also previous mails on Performance Indicator, below is also another
type of Performance indicator based on "ROC" wich was taken
from one of the mails.
-see also previous mails + below for the Divergence Indicator wich was
taken from one of the mails.
-see also previous mails + below for the Correlation Indicator wich was
taken from one of the mails.
-see also previous mails on the subject of the Relative Strength Comparative
Indicator, wich had as subject "Re: GEN/MKT: What is this called?".
-see also previous mails on Divergence(see the Correlation indicator below)
indicator, wich you will find most intresting.
Regards,
Ton Maas
Ms-IRB@xxxxxxxxx
=====================================================
Performance Indicator - Metatsock 6.x
-----------------------------------------------------
Description
The Performance indicator displays a security's price performance as a percentage.
This is sometimes called a "normalized" chart.
Interpretation
The numeric value of the Performance indicator is the percentage that the security
has changed since the first period loaded.
For example, a value of 10 would mean that the security's price has increased 10%
since the first period loaded on the left side of the chart.
Similarly, a value of -10% would mean that the security's price has fallen by 10%
since the first period.
Configuration
See Parameters and Tips and Loading Data Periods.
Parameters
The parameters for the Performance are shown below. These parameters are
specified at the time the indicator is plotted.
You can edit the parameters of an existing plot by right-clicking on the indicator
and choosing Properties from the shortcut menu.
-Price Field-
Choose the price field (i.e., open, high, low, or close) to use when calculating
the Performance indicator.
Custom
SYNTAX per()
FUNCTION Calculates the predefined Performance indicator.
Tip
The Performance indicator calculates the percent that prices have changed since
the first day loaded in the chart. Therefore, if you want to calculate a security's
performance from a specific date (e.g., the day you bought it), you should first use
the X-Axis Properties dialog (see Y-Axis Properties) to change the first date loaded.
Exploration Tips
1. Due to the way the Performance indicator is calculated, you may notice that the
column values displayed on the Results report for the Performance indicator are not
consistent. We recommend that you avoid using the Per() function in explorations.
2. The Explorer will not include composite securities in an exploration. If an exploration
folder contains composite securities, they will be ignored.
3. Remember to use the COL variable within your filter to directly reference the columns.
Using the COL variable is especially beneficial when the column formulas are long.
4.For your explorations to be valid, it is important that your data be accurate and
date-aligned. Date-aligned means that the dates for each of the securities included in
the exploration match. If data is missing for a security (even a single day), the values
shown in the reports may not be accurate.
5. You may want to include a broad-based market index in your exploration to see how
it compares to your other securities. Including an index is especially helpful when you
are using The Explorer to rank your securities by performance. Several pre-defined
performance explorations are included with MetaStock.
6. You can reference an indicator in a chart by selecting the indicator (i.e., clicking on
it so handles appear) and then substituting the "P" variable in place of a formula's
data array. For example, the formula "mov(p,10,s)" would calculate a 10-period
moving average of the selected indicator.
7. You should avoid using the "ref()" function to reference column formulas
(e.g., ref(colA, -1) ). The Explorer only calculates values for the "calculation date".
The ref() function returns the value for this date only.
8. You should avoid using the "cross()" function to reference column formulas
(e.g., cross(colB, colC) ). The cross() functions requires data for two days in order
to determine if the "cross" actually occurred.
The Explorer only calculates the column values for the specified "calculation date".
Loading Data Periods
Controlling the Number of Periods Loaded:
-1. You can control how many periods of data are loaded and displayed by choosing
the Options button in the New or Open dialog.
Up to 32,000 periods (i.e., days, weeks, months, etc.) of data can be loaded and
displayed in a chart. Load [ ] periods display [ ] periods. Enter the number of periods
to load and display. Prompt for dates when chart is opened. Select this button if you
want to specify the amount of data loaded each time a chart is opened.
See Specifying the Date Range When Loading for more information.
-2. The Performance indicator calculates the percent that prices have changed since
the first day loaded in the chart. Therefore, if you want to calculate a security's
performance from a specific date (e.g., the day you bought it), you should first use
the X-Axis Properties dialog (see Y-Axis Properties) to change the first date loaded.
See Scale for more information.
Specifying the Date Range When Loading
If you choose the "Prompt for dates when chart is opened" button in
the Load Options dialog, MetaStock will prompt you for the amount of data to load
each time a chart is created or opened. This is useful to view different ranges of
data for different charts. To specify the date range when loading:
a. Choose New (or Open) from the File menu.
b. Choose the Options button.
c. Select the Prompt for dates when chart is opened button.
d. Click the OK button.
e. Select the security (or chart) you want to load. The Date Range dialog will appear
prompting you for the range of data to load.
Scale
The Scale page is located in the X-Axis Properties dialog. Choose X-Axis from
the Format menu (or right-click on a chart's x-axis and choose X-Axis Properties
from the shortcut menu).
-Displayed - The First Date and Last Date boxes control the range of data displayed.
This range cannot be outside of the range of data loaded.
-Loaded - The First Date and Last Date boxes control the range of data loaded
from the data file.
-Right Margin -This box is used to specify how much blank space (by number of time
periods) there should be between the last data point and the right border
of the chart. This is useful to project trendlines or other line studies
into the future.
-Retain Scale -Check this box if you want the x- and y-axis to be scaled as currently
specified when the chart is opened using the Open command in
the File menu. Checking this box instructs MetaStock to override the
settings in the Load Options dialog (see Displaying Existing Charts).
Note that if the active chart is part of a layout, the Retain Scale option
is disabled since layouts remember the exact scaling for each individual
chart in the layout at the time the layout was saved.
-Font - Choose this button to display the standard Windows Font dialog. Use
this dialog to specify the font for the x-axis labels. (See Changing Fonts
for more information on fonts).
To load more data into the chart using the Scale page:
a. Right-click on the chart's x-axis.
b. Choose X-Axis Properties.
c. From the Scale page, type an earlier date into the Loaded First Date box. Note this
assumes that you have earlier data in the file to load.
d. Click the OK button.
To display a specific range of data using the Scale page:
e. Right-click on the chart's x-axis.
f. Choose X-Axis Properties.
g. From the Scale page, type the range of dates to display in
the Displayed First Date and Last Date boxes.
h. Click the OK button.
=============================================================
Performance by Rate of Change - Metatstockv6.x
NAME
Performance, 1 Year's - ROC last 250 day period
FORMULA SYNTAX
ROC(C,250,%)
EXPLORER
colom A formula : C
colom B formula : Ref(C,-250)
colom C formula : ROC(C,250,%)
colom A name= Close
colom B name= C1yr-ago
colom C name= Volatil
Filter : ROC(C,250,%)
EXPLORER CONFIGURATION
Explorer's main window choose: OPTIONS / LOAD min. 300 periods
Explorer's Editor's main window choose: OPTIONS / most recent date / daily data)
Scan-reports Ranking Ability is done by using SORT-button(or the above mentioned method)
This Program "Bugs"-you are NOT able too enlarge the TOO tiny View-Dialog-Window
-you are NOT able to sort the Rejects or view their coloms
-copy and paste hardly ever work proper in dialog-windows
USE ALSO
Copy+Paste : to copy report to Excel or Word(Notepad), when this does function(see above)
Print :
-print to file(Win95-Text-printer or Win95-PowerToys95-HTML-printer) or
-plain to paper(Default-printer)
Note
-250 is the approx. "Exchange-working" days in a one year time period
(Anual minus Sat+Sun+holidays)
-Data errors and folder's "dead" stock will appear as rejects and lowest performers.
-If you had a crash before or did an incomplete programs' shutdown , then anoying
files are beiing put in your sec-folders(4x files) wich have to be deleted first!!!!!!
-Composites held in the to be scanned folders disrupt the reliability of reports' outputs;
and while scanning can cause the program to crash.
-Exploration Tips MS65 man. p.363 or see Exploration Tips for the Performance Indicator.
========================================================
Correlation Analysis and Indicator - Metatsock 6.x
Correlation analysis measures the inter-relationship between two variables. The output
of this measurement is called the 'correlation coefficient'. A correlation coefficient will
ranges between ±1.0. A correlation coefficient of +1.0 is a perfect positive correlation.
A correlation coefficient of -1.0 is a perfect negative correlation.
The inputs are variables. There may be two or more variables. If there is no relationship
between the variables they will have a correlation coefficient of zero.
Correlation analysis involves a "dependent" and an "independent" variable. Correlation
analysis measures whether or not a change in the independent variable will result in a
change in the dependent variable.
With correlation analysis there is always one "dependent" variable. There may be one
or more 'independent' variables. The dependent variable is always the security's price.
The independent variable can be an indicator or one or more securities.
When a technician is using correlation analysis, he is measuring the degree to which
a change in the independent variable will result in a change in the dependent variable.
A low correlation coefficient (e.g., ±0.10) suggests that the relationship between the two
variables is weak or non-existent. A high correlation coefficient (e.g., ±0.85) indicates
that the dependent variable (e.g., the security's price) will change when the independent
variable (e.g., an indicator) changes.
The direction of the dependent variable's change depends on the sign of the coefficient.
If the coefficient is a positive number, then the dependent variable will move in the same
direction as the independent variable; if the coefficient is negative, then the dependent
variable will move in the opposite direction of the independent variable.
A useful feature of correlation analysis is its predictive capability, because the
correlation coefficient shows how well a change in the independent variable
(e.g., an indicator) predicts a change in the dependent variable (e.g., the security's price).
Many technicians will forward shift periods. The independent variable, which might
be an indicator, will be shifted forward x period of time. One might shift the
independent variable forward 7 days to see if there is in fact any predictive power
in the indicator. Any time period can be used.
When one uses this method of technical analysis, it is very important to not only
back-test the method, but to also forward-test this method without putting any money
on the trades.
Keep in mind that the trader may encounter a very low correlation such as -.85. If this
occurs the security's price will move in the opposite direction. It is also a very strong
indication and can be used to successfully trade. One will also notice that certain
securities tend to lead other securities or will move in opposite directions.
The Correlation indicator can be used in two ways:
· Correlation of a security's price to an indicator
You can measure the relationship between an indicator and a security's price. A high
positive correlation coefficient means that a change in the indicator usually predicts a
change in the security's price. A high negative correlation (e.g., -0.70) means that when
the indicator's value changes, the security's price will usually move in the opposite
direction. Remember, a low (e.g., 0.10) correlation coefficient indicates that the
relationship between the security's price and the indicator is not significant.
· Correlation of one security to another
Another use of correlation analysis is to measure the strength of a relationship between
two securities. Often, one security's price "leads" or predicts the price of another
security. This is especially noticeable with commodities. For example, the correlation
coefficient of gold versus the dollar shows a strong negative relationship. In other words,
an increase in the dollar usually predicts a decrease in the price of gold.
· Correlation of one indicator to another
Another use of correlation analysis is to measure the strength of a relationship between
two indicators. Often, one indicator's movement "leads" or predicts the movement of
another indicator. For example, a volume-based indicator (i.e., Chaikin Oscillator,
Money Flow Index, etc.) may be found to lead a momentum based indicator
(i.e., RSI, Stochastic, etc.).
SYNTAX correl( INDEPENDENT, DEPENDENT,PERIODS, SHIFT)
FUNCTION Calculates the predefined Correlation indicator. Compares the correlation
of DEPENDENT to INDEPENDENT over PERIODS time periods, after
shifting DEPENDENT to the right SHIFT-periods.
EXAMPLE The formula "correl( macd(), CLOSE, 5, 10 )" compares the MACD indicator
to the closing price 10-periods in the future, after statistically averaging each
data array over the preceding 5-periods.
SEE ALSO The stdev() function (see Standard Deviation in the Metatsock manual ).
========================================================
-----Oorspronkelijk bericht-----
Van: L Petersen <lpetersen1@xxxxxxxx>
Aan: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Datum: maandag 26 oktober 1998 4:24
Onderwerp: Re: Overlay charts
>> Satish
>
>To copy from one chart to another.....
>Try the right click copy....
>right click paste commands.
>That works fine with ver. 6.51
>Larry
>______________________
>
>
>
>> Satish Gupta wrote:
>>
>> I am trying to understand how overlaying a few price plots works in Metastock.
>>
>> My purpose is to see relative price movements of a few securities. Overlaying price-plots for these securities
'Without Scale' seems to be the appropriate choice for this.
>>
>> My question is: How is this overlay done exactly? I would expect this overlay to be done in a way that there is at
least one day that all the overlaid securities coincide. But I didn't see that with three-security-overlay!
>>
>> However, if that is the case, is there a way to adjust the day all the securities coincide so that one can compare
the relative performance from that day on? I do realize that one can design an exploration to do the same thing, but it
would be nice to compare the pattern.
>>
>> Thanks in advance.
>>
>> Satish Gupta
>
>
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