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Relative Strength of a stock compared to an index
Rank: Newbie
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I’m very new to Meta Stock so please bear with me.
I know how to plot the RSI on the chart but I can’t seem to do a
explorer scan with the RSI of a stock compared to an index.
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badbart,
Welcome. Have a read of your MS Users Manual for the Security() function.
wabbit [:D]
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Rank: Advanced Member
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Joined: 4/1/2006(UTC)
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Location: Romania
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badbart wrote:
I’m very new to Meta Stock so please bear with me. I want to be able to use the explorer to scan stocks on their RSI against a comparable index. I know how to plot the RSI on the chart but I can’t seem to do a explorer scan with the RSI of a stock compared to an index.
U are not confusing Relative Strenght Index with Relative Strength Comparative, right? because from your post i have a hunch that u do.
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Rank: Newbie
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Joined: 4/10/2007(UTC)
Posts: 2
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*PP wrote:badbart wrote:
I’m very new to Meta Stock so please bear with me. I want to be able to use the explorer to scan stocks on their RSI against a comparable index. I know how to plot the RSI on the chart but I can’t seem to do a explorer scan with the RSI of a stock compared to an index.
U are not confusing Relative Strenght Index with Relative Strength Comparative, right? because from your post i have a hunch that u do. You are right I mean Relative Strength Comparative. I want to run the explorer and rank stocks from based on Relative Strength Comparative to their respected index, an example is ranking all the stocks in the S&P 400 based on Relative Strength Comparative to the S&P 400 index.
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Rank: Advanced Member
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Joined: 4/1/2006(UTC)
Posts: 135
Location: Romania
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I can only tell u that the formula used in metastock, the close price of a stock divided by the close price of a index, for Relative Strenght Comparative its of no use for what are u trying to do because its resulting value has absolutely no relevance when compared with other stocks resulting RSC values. U should check Jose`s URSC at metastocktools.com, that is what it will allow u to rank the stocks based on Relative Strenght Comparative, or make ur own formula code.
hope that helps cheers
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Thanks *PP.
Yes, the URSC toolkit does exactly that - it compares any chart to a user-defined index, or (automatically) to the stock's GICS Sector index (for US/ASX/UK markets), for a valid and relevant %RSC.
Watch out for the all-new URSC Pro toolkit v5.0, with two new additional plugins (DLLs) and a uniquely useful correlation function - hopefully out before the end of May.
jose '-)
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Rank: Newbie
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Joined: 11/21/2007(UTC)
Posts: 1
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I've found this thread in my quest for a simple way to plot the performance of sectors against an index. I'm probably missing something basic, but here you go:
How would one plot, for example, MSCI ACW Energy and ACW Finance against ACW? It would be a chart where ACW itself is the flat baseline of the chart at 0% and Energy and Finance performance relative to that index would plot up or down on that baseline and show relative performance as a percentage. If I did that chart for YTD (I write this 11/2007) it would show Energy rising above the baseline and Financials heading south.
Is there a simple wat to do this or do I need to make a donation to Jose's retirement fund :)? Thanks!
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