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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
> > > >
> > >
> > > ________________________________________________________________________
> > > Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com
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