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Hi, Gordon,
Attached please find document it may meet
what you want to do. It is from equis website. I used
it which works fine in MSv8.
<span
>Harvey<font
size=2 color=navy face=Arial>
<span
>-----Original Message-----
From: Gordon Sutherland
[mailto:gosuth@xxxxxxxxxxxx]
Sent: <st1:date
Month="2" Day="18" Year="2003">Tuesday, 18 February 2003<font
size=2 face=Tahoma> <st1:time
Hour="15" Minute="23">3:23 PM<span
>
To: equismetastock@xxxxxxxxxxxxxxx
Subject: [EquisMetaStock Group]
Re:Comparative RS Indicators
<span
>
<span
>I am running Metastock EOD Version 8
and am doing some analysis using Comparative Relative Strength (Stock v Group
Index).
<span
>I have set-up my folders so that all
the stocks are in the respective directory named after the GICS Group
that they relate to. I have duplicated Explorations such that
there is one for each GICS Group and saved
the appropriate stocks in each Exploration by using the Save as
a Favourite feature. This works great but... it would be really nice
to then be able to open the charts with a default template which shows the
relative strength. Apart from setting-up heaps of Composite Files, is there any
way to create such an indicator that can be charted? I believe there is a
function called Security() which may have done the job but it is not yet
available in Version 8 (to my knowledge anyway). Any solutions or workarounds
would be much appreciated.
<span
>
<span
>For what it is worth, I am using the
following basic Code in one of the Explorations Columns (with a liquidity
Filter). Again, any suggestions of how to improve this Code would be welcome.
<span
>
<span
>
ROC(Mov((C/P),13,S),1,%) (sourced this code from <a
href="">www.tradingxl.com.au )
<span
>
<font size=5
color=green face="Kunstler Script">Regards,
<span
>
<font size=5
color=green face="Kunstler Script">Gordon Sutherland
<span
>
<span
>
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Title: Equis Support - Custom Formulas

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<TABLE
cellSpacing=0 cellPadding=10 width="100%">
Comparative Relative Strength in MetaStockâ„¢
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.)
Load the S&P 500.
Load the equity, or whatever you wish to find
the relative strength for.
Drag the S&P 500 plot into a new inner
window of the equity. (You may need to click Stack
first.)
Close the S&P 500 chart.
Create a custom indicator: Div(close,
p)
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:
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.)
You can give both plots different colors so
you can tell which is which.
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
Load the S&P 500 (or whatever you want to
compare against).
Create a custom indicator of the
Close.
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.
Select the indicator plot (by single-clicking
with the left mouse button on the line).
Do an Exploration with DIV(Close,p) in column
A, and specify which directory to explore.
The results are displayed in the Exploration
report.
(P is a special variable that points at the last
indicator plotted or selected.)
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