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Hello,
I would like to be able to have MetaStock draw a short vertical line when an
event in triggered. In this particular case, a spike in volume. A scan of
obvious headings in the manual and help file didn't seem to take me very
far.
Cheers,
Cameron
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I've been playing around with calculating relative strength not as C/index
but as a volatility adjusted spread. This more nearly approximates the
relative performance assuming an equal amount of risk-adjusted capital
invested in each security. So, for example, rather than a regular relative
strength vs. the S&P500
SP:=Security("C:\MetaStock Data\Indeces\.spx",C);
RS:=C/SP;rs;
I would take the spread between the two securities adjusted for their
volatility expressed as ATR as % of price e.g.
P1:=50;
S1H:=H;
S1L:=L;
S1C:=C;
S2H:=Security("C:\MetaStock Data\Indeces\.spx",H);
S2L:=Security("C:\MetaStock Data\Indeces\.spx",L);
S2C:=Security("C:\MetaStock Data\Indeces\.spx",C);
TR1:=Max(Max(S1H-S1L,S1H-Ref(S1C,-1)),(Ref(S1C,-1)-S1L));
ATR1:=Mov(TR1,P1,S)/Mov(S1C,P1,S);
TR2:=Max(Max(S2H-S2L,S2H-Ref(S2C,-1)),(Ref(S2C,-1)-S2L));
ATR2:=Mov(TR2,P1,S)/Mov(S2c,P1,S);
Ratio:=ATR1/ATR2;
Spread:=S1C-S2C*ratio;spread;
I'm curious - has anyone else looked at this? Theoretically, this would be
an alternative to any regular relative strength calculation, and would
better reflect the reality of "am I better off investing in A or B?". I have
also seen this done using beta as the volatility measure.
Andrew
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