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Hi
Is it possible to “weight” the results of an exploration that I have made with Metastock?
For example, if the daily % performance price, of all the stocks, oscillate between the range of “+ 20% until –20%”, I would like to weight these results, (with Metastock) on a scale, where the better result “the + 20%” corresponds to 100 and the worse “the –20%” to the zero.
Thanks
Dionusos :)
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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The process of which you ask is called "normalisation" or "normalization" (depending on where you are!)
The highest return in a list is given a value of 1 and the lowest 0 (these of course can be multiplied to give more 'meaningful' results) e.g. 0-100 etc
To normalize data, across the entire range, you have to SUBTRACT the smallest value of the range from every value in the range
x:=ROC(C,1,%);
y:=x-lastvalue(lowest(x));
The resultant values in this data array are now zero - to whatever the highest value is. Now you have divide this resultant data array by the highest value so the resultant data array is between zero and one.
x:=ROC(C,1,%);
y:=x-LastValue(Lowest(x));
normalisedData:=y/LastValue(Highest(y));
normalisedData*100
You can use this process to normalise any data, HOWEVER because it uses the LastValue() function EXTREME CAUTION be used if using this in a trading system.
Pseudo-normalisation can be achieved using the lookback functions HHV and LLV to the achieve a smilar (but not excatly the same) result:
[edited code: cut and paste error - sorry]
prd:=25;
x:=ROC(C,1,%);
normalisedData:=(x-LLV(x,prd))/(HHV(x,prd)-LLV(x,prd));
normalisedData
This CAN be used in systems, carefully as always.
Hope this helps.
wabbit :D
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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... and after a quick re-read of your question, I realise I have not answered it! Sorry.
OK - exploration results cannot be normalised in MS. You can export the results to Excel or similar and do it there, but the question is why?
You can sort the output of the exploration so that the +20% stocks are listed at the top (or bottom) of the results list. Either click the sort button, or just the column head to sort by that column. (Just make sure you have an output column - dont just do all the processing in the explorer filter!)
If any more help is required, just ask.
Hope this helps.
wabbit :D
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