|
PureBytes Links
Trading Reference Links
|
Shows if one sec is outperforming the other, eg if the active sec's internal market strength
is stronger than the other sec that's under surveilance (sec vs another sec) or (sec vs a group
or index of secs), then the active sec's RS value is higher(+"rising").
Formula = sec1/sec2 {sec1 divided by sec2{another sec, a group or an index}}
Custom = C/P {where P is representing the other component, see p.232}
It's mostly used with 10 or 30-week SMA's crosses(overs) (and by the Institutionals).
It is never a BUY signal by itself, but when used in combination with.....
(see manual p.499-500 and older mail below).
Regards,
Ton Maas
ms-irb@xxxxxxxxxxxxxxxx
Dismiss the ".nospam" bit (including the dot) when replying.
Homepage http://home.planet.nl/~anthmaas
----- Oorspronkelijk bericht -----
Van: "Alexandros Spiroglou" <a_spiroglou@xxxxxxxxxxxxx>
Aan: <metastock@xxxxxxxxxxxxx>
Verzonden: zondag 24 september 2000 12:27
> what is the "Relative Strength Comparative Index" in MS?
>
> warmest regards
> Alex Spiroglou
>
As a desert, found these too.
Regards,
Ton Maas
Ms-IRB@xxxxxxxxx
=================================================
Relative Strength Comparitive(MSv6.x) - Ton Maas
For Metastockv6.x - 2 custom indicators have to be created
Name: P identifier indicator
Formula: P
Name: Relative Strength Comparitive
Formula: P/C
-Open an index or other security you would like the original security to be compared with,
select(=highlight) its Price indicator(=the 'close' of that base security's), this will
put the 'handles' on the Price
-Open the original security and drag down the custom P identifier indicator from the
programs Indicator Quick List and release this dragging when the mousepointer shows a
chart image, this will now have the P identifier shown in its own inner window
-Drag down the Relative Strength Comparitive custom indicator from the Indicator Quick List
and on dragging drown, the base security(the original) will change its color into magnenta,
release this dragging into the P identifiers inner window(you now have a one day RS indicator)
-go back to the P identifier indicator and right click on it, in the then displayed
quickmenu choose for its properties, the color TAB, and go to style and change to "Invisable"
click ok and you will now have only the RS indicator being displayed
-go back to the Indicator Quick List and drag down 2x the Moving Average indicator and choose
as their time periods 10 and 30
-best results will be seen when changing between daily and weekly Price data
======================================================
Relative Strength Comparative - Equis Support
------------------------------------------------------------------
Here is a document describing the way to perform a Comparative Relative
Strength in MetaStock for Windows:
Comparative Relative Strength charts can be useful in deciding which security
to buy, by helping to pinpoint the best performer. They can also be useful
in developing spreads, i.e., purchase of the best performer "long", and
selling the weaker issues "short." Comparative Relative Strength can be
applied in MetaStock for Windows as follows:
Creation of a Template for Comparative Relative Strength
(For this illustration, we assume an equity/stock is compared to the S&P 500,
both of which must first have been collected from your vendor. Both data
files should be in the same periodicity.)
1. Load the S&P 500.
2. Load the equity, or whatever you wish to find the relative strength for.
3. Drag the S&P 500 plot into a new inner window of the equity. (You may
need to click Stack first.)
4. Close the S&P 500 chart.
5. Create a custom indicator: Div(close, p)
6. Drag the custom indicator into the inner window containing the S&P 500
plot, moving it over the plot until the plot changes to a pink or lavender
color, then release your mouse button. (This is called dragging and dropping
an indicator on an indicator. The new indicator will plot in the same window
as the S&P 500 plot.) You have three options here:
6a. You can change the color of the S&P 500 plot to be the same as the chart
background color, so that it is effectively invisible. (Double-click the S&P
500 plot to get to its "properties", then choose the color you need from the
Colors list.)
6b. You can change the style of the S&P 500 plot to "invisible", which
effectively does the same as changing its color to match the background.
(Double-click the S&P 500 plot to get to its "properties", then choose
"invisible" from the Styles list.)
6c. You can give both plots different colors so you can tell which is which.
7. Save this chart as a Template. (File|Save As, set "Save File As Type" to
Template, and give it a name, such as CMPRELST.MWT.)
Any time you want to see Comparative Relative Strength of an equity against
the S&P 500, apply this template to the equity's chart. Note: if you should
move the data file against which you are comparing, such as the S&P 500, this
template will no longer work, and would have to be recreated.
If you would like a hard copy of this faxed to you contact Technical Support
at 801-265-9998 or send me a e-mail with your fax number.
Cheryl,
Equis Support.
------------------------------------------------------------------------------------------------
Comparative Relative Strength in MetaStockT for Windows
rev. 01/06/97
Comparative Relative Strength charts can be useful in deciding which
security to buy, by helping to pinpoint the best performer. They can also
be useful in developing spreads, i.e., purchase of the best performer
"long", and selling the weaker issues "short." Comparative Relative
Strength can be applied in MetaStock for Windows as follows:
Creation of a Template for Comparative Relative Strength
(For this illustration, we assume an equity/stock is compared to the S&P
500, both of which must first have been collected from your vendor. Both
data files should be in the same periodicity.)
1. Load the S&P 500.
2. Load the equity, or whatever you wish to find the relative strength
for.
3. Drag the S&P 500 plot into a new inner window of the equity. (You may
need to click Stack first.)
4. Close the S&P 500 chart.
5. Create a custom indicator: Div(close, p)
6. Drag the custom indicator into the inner window containing the S&P 500
plot, moving it over the plot until the plot changes to a pink or
lavender color, then release your mouse button. (This is called
dragging and dropping an indicator on an indicator. The new indicator
will plot in the same window as the S&P 500 plot.) You have two
options here:
o You can change the color of the S&P 500 plot to be the same as
the chart background color, so that it is effectively invisible.
(Double-click the S&P 500 plot to get to its "properties", then
choose the color you need from the Colors list.)
o You can give both plots different colors so you can tell which is
which.
7. Save this chart as a Template. (File|Save As, set "Save File As Type"
to Template, and give it a name, such as CMPRELST.MWT.)
Any time you want to see Comparative Relative Strength of an equity against
the S&P 500, apply this template to the equity's chart. Note: if you should
move the data file against which you are comparing, such as the S&P 500,
this template will no longer work, and would have to be recreated.
To Run an Exploration Using Comparative Relative Strength
1. Load the S&P 500 (or whatever you want to compare against).
2. Create a custom indicator of the Close.
3. Drag and drop this indicator on the S&P 500 (or whatever...). (Note:
the S&P 500 plot must change to pink/lavender color before you drop
it.) The indicator will plot.
4. Select the indicator plot (by single-clicking with the left mouse
button on the line).
5. Do an Exploration with DIV(Close,p) in column A, and specify which
directory to explore.
6. The results are displayed in the Exploration report.
(P is a special variable that points at the last indicator plotted or
selected.)
--------------------------------------------------------------------------------------------
Comparative Relative Strength Exploration
rev. 01/06/97
* To construct a Comparative Relative Strength Exploration in MetaStock
for Windows perform the following steps:
* Load the S & P 500.
* Create a custom indicator of the Close. Plot the indicator on the S &
P 500. Select this plot by clicking on it.
* Create an exploration with div(C,P) in column A and also specify which
directory to explore.
* Note: ( the P variable references the selected indicator in the active
chart which would be the close)
The results are displayed in the exploration report.
--------------------------------------------------------------------------------------------
|