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Casimir
Thank you for your code. Just one point about the "Security" function
missing from earlier EOD versions. The "P" variable will work fine if
substituted for the "ASX" variable in your exploration. What's required is
that the reference security (index) be opened and "marked". When that is
done the exploration should work with any version from MS 6.52 onwards.
The "P" variable (it may also be called as "INDICATOR") can only reference
the CLOSE on the selected chart, which is all that's required in this case.
Roy
> I think Relative Strength (Comparative) is one of the most valuable
> indicators - after all why attempt swimming against the tide!
> Being UK based I use the FTSE All Share Index (ASX) as a benchmark but you
> can substitute it with you own choice of index.
> Note that you need MS 8.01 as earlier versions incredibly did not have the
> "Security" function.
>
> This is an extract of one exploration I regularly use:
>
> {Col A Relative Strength - 5 day %}
> PDS:= 5;
> ASX:= Security("C:\METASTOCK\UK\FT Indices\ASX",CLOSE);
> ROC(CLOSE/ASX,PDS,%)
>
> {Col B Relative Strength - 10 day %}
> PDS:= 10;
> ASX:= Security("C:\METASTOCK\UK\FT Indices\ASX",CLOSE);
> ROC(CLOSE/ASX,PDS,%)
>
> {Col C Relative Strength - 15 day %}
> PDS:= 15;
> ASX:= Security("C:\METASTOCK\UK\FT Indices\ASX",CLOSE);
> ROC(CLOSE/ASX,PDS,%)
>
> Just change "PDS" to periods that suit your own style of trading.
>
> etc etc
>
> This is an extract of another exploration:
>
> {Col A Relative Strength Line - Actual}
> ASX:= Security("C:\METASTOCK\UK\FT Indices\ASX",CLOSE);
> Ref((CLOSE/ASX),-0)
>
> {Col B Relative Strength Line - Actual}
> ASX:= Security("C:\METASTOCK\UK\FT Indices\ASX",CLOSE);
> Ref((CLOSE/ASX),-1)
>
> {Col C Relative Strength Line - Actual}
> ASX:= Security("C:\METASTOCK\UK\FT Indices\ASX",CLOSE);
> Ref((CLOSE/ASX),-2)
>
> etc etc
>
> In the filter section I would have something like colA>colB and colB>colC
to
> identify which way RS is going.
> Remember that the numbers in the RS Line don't mean much - what you need
to
> know is the direction of the RS line.
> Also remember that you have "good" RS even when your security is falling -
> it's just falling by less than your benchmark!
>
> I also use RS in an expert. For example in "Bullish" you could have:
>
> PDS:=60;
> ASX:= Security("C:\METASTOCK\UK\FT Indices\ASX",CLOSE);
> If(ROC(CLOSE/ASX,PDS,%)>0,1,0)
>
> and in "Bearish"
>
> PDS:=60;
> ASX:= Security("C:\METASTOCK\UK\FT Indices\ASX",CLOSE);
> If(ROC(CLOSE/ASX,PDS,%)<0,1,0)
>
> and in the commentary ...
>
> RS 5d % : writeVal(ROC(CLOSE/Security("C:\METASTOCK\UK\FT
> Indices\ASX",Close), 05,%),8.2) %
> WriteVal(Ref(ROC(CLOSE/Security("C:\METASTOCK\UK\FT Indices\ASX",Close),
> 05,%),-3),8.2) % WriteIf(ROC(CLOSE/Security("C:\METASTOCK\UK\FT
> Indices\ASX",Close), 05,%)>Ref(ROC(CLOSE/Security("C:\METASTOCK\UK\FT
> Indices\ASX",Close), 05,%),-3),"rising ","falling")
>
> RS 10d % : writeVal(ROC(CLOSE/Security("C:\METASTOCK\UK\FT
> Indices\ASX",Close), 10,%),8.2) %
> WriteVal(Ref(ROC(CLOSE/Security("C:\METASTOCK\UK\FT Indices\ASX",Close),
> 10,%),-3),8.2) % WriteIf(ROC(CLOSE/Security("C:\METASTOCK\UK\FT
> Indices\ASX",Close), 10,%)>Ref(ROC(CLOSE/Security("C:\METASTOCK\UK\FT
> Indices\ASX",Close), 10,%),-3),"rising ","falling")
> /Security("C:\METASTOCK\UK\FT Indices\ASX",Close), 60,%),-3),"rising
> ","falling")
>
> etc etc
>
> Obviously you can create a custom formula to replace
> <Security("C:\METASTOCK\UK\FT Indices\ASX",Close)> but when I did that in
an
> expert with many different dates I experienced a lot of disk read/write
> activity and the expert seemed to slow down drastically.
>
> I think there is an article about the RS in the files section.
>
> Good luck.
>
> Casimir
>
>
>
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