The Quotes Plus Relative Strength indicator is calculated for each issue each
day, and becomes part of the data you download to your PC. The indicator ranks
each issue in the database against every other issue in the database, based on
its performance for the last 12 months.
Every issue is ranked from 0 to 99 so that its rank is equal to the
percentage of issues that it has outperformed over the previous 12 month period.
A rating of 92, for example, means that the issue has outperformed 92% of all of
the issues in the database.
The formula is :
( Current Close / Close from 62 trading days ago ) * .4
+ ( Close from 63 trading days ago / Close from 125 trading days ago ) *
.2
+ ( Close from 126 trading days ago / Close from 188 trading days ago ) *
.2
+ ( Close from 189 trading days ago / Close from 251 trading days ago ) *
.2
This value is sorted for all of the issues, and the top 1% of issues get a
value of 99. The other issues are ranked similarly, down to the bottom 1%, which
get a value of 0.
----- Original Message -----
Sent: Wednesday, December 22, 2004 3:18
AM
Subject: Re: [Metastockusers] Re:
Relative Strength (like Investor's Business Daily)
Jose
Thanks for your advice. William O'neill
talks very passionately about the RSC in his book How to make money in
stocks. I respect his writings. He makes good sense. Its
about finding whether the stoick is a leader or laggard.Hise definition
is:
"A proprietary rating that meassures the price
performance of a given stock against the rest of the market foir the past 52
weeks. Each stock is assigned a performance rating 1 to 99 with 99 being the
best. An RS rating of 99 means the stock has ouitperformed 99%of
all other companies in terms of price performance".
Peter
----- Original Message -----
Sent: Wednesday, December 22, 2004 6:57
PM
Subject: [Metastockusers] Re: Relative
Strength (like Investor's Business Daily)
Peter, I'd love to put something together to show off
this excellent
tool (URSC), but I'm currently so short of available time
that sleep
seems like a luxury for me now.
There is an excellent
set of articles about incorporating the URSC kit
into a winning trading
strategy, being written for Roy's MSTT
newsletter by a professional
trader. They will be published in the
January and February issues
of MSTT.
http://www.metastocktips.co.nz/
jose
'-)
--- In Metastockusers@xxxxxxxxxxxxxxx, "metastkuser"
<andysmith_999@xx
..> wrote:
>
> Peter,
>
> Jose has a Universal Relative Strength Comparative (URSC) plugin
for
> MS. I looked at his website and downloaded the URSC user guide
-- it
> looks like an excellent product.
>
> Before I
purchase it though, I'd like to get a better understanding
> on how
RSC is best used -- above and beyond just sorting/ranking a
> list of
stocks.
>
> Jose, can we convince you to write an
"Applications Note"?
>
> Thanks!
>
>
>
>
> --- In Metastockusers@xxxxxxxxxxxxxxx,
"Peter Fox" <pgfox@xxxx>
wrote:
> > I am sorry but I
can't help you with Metastock. I bought and add-
on
> from Jon
Debry a few years ago but haven't always been happy with it
> seems
to miss some stocks in its calculations. If you find out a way
> in
Metastock then let me know. Stan Weinstein also wrote a book
>
mentioning the RS line also.
> > regards
> >
----- Original Message -----
> > From: metastkuser
> > To: Metastockusers@xxxxxxxxxxxxxxx
>
> Sent: Monday, December 20, 2004 7:13 AM
>
> Subject: [Metastockusers] Relative Strength (like
Investor's
> Business Daily)
> >
> >
> >
> > Is there a way in MS9 to plot the equivalent of
Investor's
> Business
> > Daily's Relative Price
Strength (RS) line? Metastocks's RS
> function
>
> only compares the stock with an index -- it does not rank
against
> > other stocks.
> >
>
> (NOTE: I'm after the RS line, not just the instantaneous
RS).
> >
> >
Thanks!