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----- Original Message -----
From: A.J. Maas <anthmaas@xxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: dinsdag 27 oktober 1998 20:40
Subject: Re: Overlay charts
>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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