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Larry, it's all about normalizing values to boundaries.
Normally, ratios have a middle (1.0), bottom boundary (zero), but no
upper boundary (infinite). Invert the ratio and presto, we now have a
zero boundary for the upper values as well.
jose '-)
http://www.metastocktools.com
--- In equismetastock@xxxxxxxxxxxxxxx, "Larry Carhartt" <lc@xxxx>
wrote:
> Jose,
>
> I put your MetaStock formula in an Excel Spreadsheet.
> Works perfectly. I am just trying to understand why, but I will get
> that eventually. Have to knock some of the rust off the gears.
>
> Thank you. That is a very helpful little formula.
>
> Best,
>
> Larry Carhartt
>
> MasterDATA
> The Only Source for Index & ETF Composite/Breadth Reports,
> Charts & Data
> www.MasterDATA.com
> lc@xxxx
> 818-701-6686
>
>
>
> -----Original Message-----
> From: equismetastock@xxxxxxxxxxxxxxx [mailto:
> equismetastock@xxxxxxxxxxxxxxx]
> On Behalf Of Jose Silva
> Sent: Friday, September 16, 2005 12:02 PM
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: [EquisMetaStock Group] Re: Percentage Change Chart
>
>
> Sorry, Eugene - I forgot that you already have the URSC kit. :)
>
> Try this accurate points-to-% MS indicator code:
>
> ======================
> Points to % conversion
> ======================
> ---8<----------------------------------
>
> { CCopyright 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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