AW: Relative Price Strength Indicator

["Volker Knapp" <vk@xxxxxxxxxxxx>]

Hi,

there has been an interesting result taken by a different software about the
pure RSI used on a portfolio of stocks. I am/was not a fan of indicators,
but that result changed somehow my opinion about it. The rule was something
like:

Buy if the RSI-20 goes below 30 or below 25 or below 20
and close all position if RSI20 goes above 55.

The system was tested on a portfolio of Dow 30 stock money management rules
were applied according to the overall equity.

Very good result

vk

  ++-----Ursprüngliche Nachricht-----
  ++Von: Lance Fisher [mailto:lance@xxxxxxxxxxxxxxx]
  ++Gesendet: Montag, 28. Januar 2002 23:26
  ++An: Duke.Jones@xxxxxxxxxxxxxxxxxxxxxx
  ++Cc: 'Francesco Topino'; omega-list@xxxxxxxxxx
  ++Betreff: RE: Relative Price Strength Indicator
  ++
  ++
  ++Duke,
  ++
  ++Thanks for your reply.
  ++
  ++For me, this Market Analyzer discussion is revisiting an old headache.
  ++Your post got me thinking down the right path though. I think I figured
  ++this out.
  ++
  ++Both our versions of the "RelStrength.IBD" indicator work.
  ++
  ++Here's the catch on how to get the File Append statement in this
  ++indicator to create a .csv file. You have to set up the Workspace
  ++Assistant correctly for this to work.
  ++
  ++- "Scan all price data in" obviously must be set to the proper location
  ++for the chart data.
  ++
  ++- In the "Scan for" section, "study alerts" must be checked or the file
  ++will not be created. "Drawing object alerts" and "Strategy positions and
  ++orders" can EITHER be off or on.
  ++
  ++- "Print settings" must be set to "Print windows that trigger alerts" OR
  ++"Print all windows being scanned". Unless you want 500 printouts, the
  ++former makes more sense. Never mind that there are no "Alerts" in this
  ++code, it works in this setting nonetheless. If it is set to "Do not
  ++print windows", the file will not be created. Apparently if the WA is
  ++looking for something to print, it allows it to "see" the File Append
  ++statement.
  ++
  ++- In the "Speed Settings" sections, "Do not show while running" can
  ++EITHER be checked, or not, it doesn't matter. "Maximize calculation
  ++speed" CANNOT be checked, however. If it is the file will not be
  ++created.
  ++
  ++Whew, thank God Omega made this simple, NOT. As my little sister would
  ++say... "This is totally lame".
  ++
  ++Cheers.
  ++
  ++-Lance Fisher
  ++
  ++
  ++
  ++
  ++
  ++-----Original Message-----
  ++From: Duke Jones - Portfolio Manager
  ++[mailto:Duke.Jones@xxxxxxxxxxxxxxxxxxxxxx]
  ++Sent: Monday, January 28, 2002 1:16 PM
  ++To: Lance Fisher; omega-list@xxxxxxxxxx
  ++Cc: 'Francesco Topino'
  ++Subject: RE: Relative Price Strength Indicator
  ++
  ++Lance, I think I am having problems getting replies through list. I
  ++changed
  ++your code as follows and ran it through a custom list of the S&P 500.
  ++Ran
  ++fine through WS. If this is not the desired result describe what output
  ++is
  ++required I will take another look.
  ++
  ++Duke
  ++
  ++Input: MakeFile (True), {Set to true to create .csv file}
  ++	   File("C:\Desktop\RelStrength.CSV") ;
  ++
  ++Vars:  ThreeMonth (00),
  ++	   SixMonth   (00),
  ++	   NineMonth  (00),
  ++	   TwelveMonth(00),
  ++       RS         (00) ;
  ++
  ++ThreeMonth  = ((Close / Close[60] ) - 1) * 100 ; {Rate of Change%}
  ++SixMonth    = ((Close / Close[120]) - 1) * 100 ; {Rate of Change%}
  ++NineMonth   = ((Close / Close[180]) - 1) * 100 ; {Rate of Change%}
  ++TwelveMonth = ((Close / Close[240]) - 1) * 100 ; {Rate of Change%}
  ++
  ++{Assign weights to ROC look back periods}
  ++RS = (ThreeMonth * .4) + (SixMonth * .2) + (NineMonth * .2) +
  ++(TwelveMonth * .2) ;
  ++
  ++Plot1(RS, "RS.ibd");
  ++
  ++If LastBarOnChart and MakeFile then begin
  ++  FileAppend(File, Text(GetSymbolName, ", ", NumToStr(RS, 2)) +
  ++NewLine) ;
  ++End;
  ++