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Re: Comparative Strength



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Martin,

Now that is really surprising.  Relative Strength comparative was in
ver.6.5 EOD, so that at least should be in ver.7 EOD.  I'm sure you've
already checked the index at the back of the manual?  Can't imagine why
Equis would put the Security Data Function in the Pro version and not in
EOD.

HHP
==========================

Martin Haesler wrote:
> 
> HHP
> 
> Thank you very much for your response.
> 
> I thought I was going bonkers when I found that page 241 in my manual
> (metastock ver. 7) mentions nothing about the Security Data Function.
> Similarly pages 191 and 514 do not discuss Relative Strength Comparitive.
> 
> Figured I had been sent an old book even though it show ver. 7 on the first
> page.
> 
> However, decided to attempt to use the Security function and when saving it
> received the diagnostic that this function is available in the Metastock
> Professional version only. I am of course using the MS ver7 end of day
> program.
> 
> So the convention of describing essentially two different programs by the
> same name and version has struck again.
> 
> At least now I know ... and thank you again for your assistance.
> 
> Regards ... Martin
> 
> ----- Original Message -----
> From: "HHP" <hhp@xxxxxxxx>
> To: <metastock@xxxxxxxxxxxxx>
> Sent: Thursday, April 27, 2000 6:34 AM
> Subject: Re: Comparative Strength
> 
> > Martin,
> >
> > In the MStk ver.7 manual, Security Data Function p.241; Relative
> > Strength Comparative p.191 & p.514.  The Security Data Function is new
> > with ver.7.  Relative Strength Comparative is continued from ver.6.5.
> >
> > Here's the current version of my home-grown Comp Strength-ROC indicator
> > ('Comp' referring to both comparative and composite).  In place of {Data
> > Path} enter the Drive:\Folder\File address of your index such as the
> > S&P500.
> >
> > Ndx:= Security("{Data Path}",C);
> > CS10:= ROC(C,10,%) - ROC(Ndx,10,%);
> > CS20:= ROC(C,20,%) - ROC(Ndx,20,%);
> > CS30:= ROC(C,30,%) - ROC(Ndx,30,%);
> > CS:= LinearReg((CS10 + CS20 + CS30)/3, 3);
> > CS; 0;
> >
> > If you run this in the Explorer with a Col. for CS you can rank your
> > database on a percentage scale from those heading north to those heading
> > south.  Around the middle (0) you can find some basing candidates if you
> > like bottom-fishing.
> >
> > This is all for an EOD local database.  Has anyone using Data-on-Demand
> > tried anything similar?
> >
> > HHP
> > =========================
> >
> > Martin Haesler wrote:
> > >
> > > HHP
> > >
> > > I have been unable to find the Security Data Function you refer to ???
> Could
> > > you enlighten me please as to what this function is called.
> > >
> > > I also note the Relative Strength Comparative can be used as an
> indicator
> > > but is not available in the indicator builder nor in the explorations.
> > >
> > > Am I missing something ?? Any assistance much appreciated.
> > >
> > > Regards ... Martin
> > >
> > > ----- Original Message -----
> > > From: "HHP" <hhp@xxxxxxxx>
> > > To: <metastock@xxxxxxxxxxxxx>
> > > Sent: Tuesday, April 25, 2000 7:29 AM
> > > Subject: Comparative Strength
> > >
> > > > How do people compute comparative strength in MetaStock so as to be
> able
> > > > to sort the issues by comparative strength?
> > > >
> > > > My method is to calculate an Issue Ratio by dividing today's close by
> > > > the 20-day previous close; obtain an Index Ratio the same way; then
> > > > divide the Issue Ratio by the Index Ratio.  (MStk ver.7's Security
> Data
> > > > Function makes this easy).
> > > >
> > > > Does anyone find other time periods better - shorter, longer,
> > > > composite?  Has anyone a better calculation?  A way to give preference
> > > > to a smooth comparative strength curve might be an advantage.
> > > >
> > > > HHP
> > > > ==========================
> > > >
> > > > Dan Harels wrote:
> > > > >
> > > > > Nicholas,
> > > > >
> > > > > Although Metastock can screen 3000 securities, I haven't found much
> > > point in
> > > > > it.  I have found it more productive to use Metastock's powerful
> > > screening
> > > > > capabilities on a much smaller population.  I am what is frequently
> > > > > classified as a momentum investor because I focus my attention
> strongest
> > > 10
> > > > > percent of the market and essentially ignore the other 90 percent.
> > > > >
> > > > > To find the strongest 10 percent, I perform an initial screen of all
> of
> > > the
> > > > > securities in Quote Plus database using relative strength.  I look
> for
> > > the
> > > > > securities that have out performed 90 percent of the market on the
> > > premise
> > > > > that stocks that have outperformed will continue to outperform.  I
> also
> > > add
> > > > > a screen that eliminates anything that trades less than an average
> of
> > > > > 100,000 shares per day.  I use 100,000 because it keeps my database
> > > small,
> > > > > the spread between bid and ask doesn't eat you alive and you don't
> have
> > > > > charts that are full of gaps due to lack of activity.
> > > > >
> > > > > Back in late October when I thought that the market was nearing a
> > > bottom, I
> > > > > ran that scan on Quotes plus and came up with a population of about
> 120
> > > > > stocks.  I used that population through November and did not update
> it
> > > again
> > > > > until mid-December.  Many of the stocks in that population went up
> > > several
> > > > > hundreds of percent between the first of November and the first of
> > > January.
> > > > > The period between the first of Novemeber and the first of January
> was
> > > > > extrordinary and I did not have the skills needed to make several
> > > hundreds
> > > > > of percent on my capital, however, the opportunities were there in a
> > > small
> > > > > cross-section of the market.
> > > > >
> > > > > If you are looking for stocks that are going to outperform the
> market,
> > > you
> > > > > would do well to focus your attention on the stocks whose price
> > > performance
> > > > > has been better than the rest of the market. On average, their price
> > > > > performance is likely to continue to be better than the rest of the
> > > market.
> > > > > I use relative strength as my first cut and volume as a secondary
> > > criterion.
> > > > >
> > > > > Hope this helps,
> > > > >
> > > > > Dan
> > > > >
> > > > > >From: "Nicholas Kormanik" <nkormanik@xxxxxxxxxx>
> > > > > >Reply-To: metastock@xxxxxxxxxxxxx
> > > > > >To: <metastock@xxxxxxxxxxxxx>
> > > > > >Subject: RE: Volume Moving Average Study
> > > > > >Date: Sun, 23 Apr 2000 20:58:11 -0600
> > > > > >
> > > > > >Ian writes, "I mainly use two other folders which have about 200
> > > securities
> > > > > >in each."
> > > > > >
> > > > > >Did those approximately 400 stocks in 'topstocks' and 'watchlist'
> have
> > > to
> > > > > >clear a volume hurdle?
> > > > > >
> > > > > >What makes them all that different from the other 3,000 securities?
> > > > > >
> > > > > >Thanks,
> > > > > >Nicholas
> > > > > >
> > > > >
> > > > >
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