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Sorry, Eugene - I forgot that you already have the URSC kit. :)
Try this accurate points-to-% MS indicator code:
======================
Points to % conversion
======================
---8<----------------------------------
{ ©Copyright 2002~2005 Jose Silva }
{ For personal use only }
{ http://www.metastocktools.com }
ratio:=Min(C,Ref(C,-1))/Max(C,Ref(C,-1));
Mom:=Cum(If(C>Ref(C,-1),2-ratio,ratio)*100-100);
Mom
---8<----------------------------------
jose '-)
http://www.metastocktools.com
--- In equismetastock@xxxxxxxxxxxxxxx, "Jose Silva" <josesilva22@xxxx>
wrote:
> Gene, a basic Rate Of Change (ROC) can do this to some extent:
> ROC(C,10,%)
>
> Another choice would be the Price Oscillator:
> OscP(1,10,E,%)
>
> Note that there is an issue that plagues price-to-percentage
> conversions: normalization. If an ETF moves from 50 to 100 points
> (100% increase), and then back to 50 pts again (50% decrease), most
> ROCs will plot a total net increase of around +50% (instead of 0%
> net).
>
> For a perfect $ to % conversion (and comparing apples to apples),
> take a look at the URSC kit:
>
> http://www.metastocktools.com/URSC/URSC.htm
>
>
> jose '-)
> http://www.metastocktools.com
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "Gene Asken" <dahbull@xxxx>
> wrote:
> In the September issue of Stocks, Futures & Options (SFO), Deron
> Wagner in his article "Profit From Sector ETF Trend Divergence,"
> presents two "percentage change" charts with an overlay of an ETF
> vs. S&P 500 as a means of pinpointing divergences between the two.
> This would entail changing the Y-axis from price to percentage so
> the relationship between the ETF and the index remains correlated,
> apples to apples. Is there a way to do this in Metastock?
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