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Joined: 11/20/2006(UTC)
Posts: 21
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I incorrectly posted this question in the General Metastock formula. Perhaps someone in this forum can help me?
I am developing a range of short and medium-term trading systems,
all of which will have three pre-requisites before a possible trade
will be considered.
(1) The trade must be with the trend, as evidenced by the 200
day SMA of Australia's All Ordinaries index, symbol XAO;
(2) The index for the sector in which the intended trade resides
must be rising (or falling in the case of a bear market) at a higher
rate than XAO; and
(3) The stock must be rising (or falling) at a rate higher than
the relevant sector index.
The first one is easily achieved and I currently determine numbers
two and three by using the ROC function (ROC(Mov
((C/P),13,S),1,%), . That is, I run a thirteen week ROC for each
sector against XAO and then I run the same ROC for each stock in a
sector against that sector's index. That works, but it is a bit
time-consuming.
Is it possible to develop Metastock code that will automatically do
the above and that I could then build in to all subsequent trading
systems that I develop? I assume that I can use the Relative
Strength Comparator, but I'm not sure how?
Appreciate all advice.
John
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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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John, There have been many, many posts on the Fourum about Relative Strength functions. You can use the search function to read what other people have tried, or you can just get the final solution (and the best solution) which is to purchase Jose Silva's excellent Universal Relative Strength Comparative (URSC) project from www.metastocktools.comIt is the solution you are looking for, and a whole lot more! Hope this helps. wabbit [:D]
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