Hi,

I was reading the link below.

http://www.visualchart.com/enxx/strategies/indicators/ayuda.asp?Id=2785


Mansfield calculates every week the relation between the weekly close of the share and the weekly close of it corresponding index. He extracts form there the arithmetic average of the last 52 weeks ( the full chart has 130 bars , this is two years and a half. This value will be the base price . Base price = = ( R (1)+ R (2) +.... + R (t)+....+R (52) ) / 52 The chart performance ratio is the representation of PR (t) = (( R (t) / BP) -1 ) x 10 The coefficient 10 is a scale factor arbitrary chosen by Mansfeld.

Line 1 : Represents the indicator value.
Line 2 : Represnts the 0 value band the indicator oscillates around.
How do I calculate the base price and the PR(t) mentioned in the article?

Regards,
Lewis

Hi VT,

I got an error message when trying out this forumla above.

It says



Do you encounter this message?
I don't quite understand the use of the "P" variable. Do you mean create a variable "P" to be SPY?

Alright, I just found out how you can fix the problem. Whenever you are comparing a stock, you have to make sure that the index you are comparing the security against, is LOCATED IN THE SAME folder as the security that is open. So for example, if you are looking at Apple(AAPL) and this stock is in the folder named "NASDAQ", the index you are comparing it against, e.i. SPY must also be in the folder "NASDAQ". This should solve your problem. VT

No man don't check it through you hard drive, check the security name and folder directly through metastock. Go to new chart and see in which folder is your SPY symbol or another index. With regards to the explorer, here you can use your P variable. Here is how its done: Copy this code to the FILTER tab of a New Explorer: x:= P; R:= C/x; base:= Sum(R,52)/52; mf:= ((R/base)-1)*10; mf>Ref(mf,-7) Now before you run the exploration open a chart of any index or etf, for example SPY. Then click on the actual security and you should see white squares(or at least mine are white) on the data. These squares define the P variable. Now, with the squares still on the index/etf run the exploration and you should get the result you are looking for. Note a few things. First, with the P variable defined it is NOT necessary to open securities from the same folder in which the index is. In addition, you should notice that I have changed the formula slightly- I have defined directly the periods with which to sum up and the periods which to define R in the formula. If you want to make any adjustments you should changed them manually in the explorer. Hope it works. VT

Hi, No don't replace it with the actual directory because Metastock knows where the symbol is and Metastock would not understand this Security("G:\Invest\Metastock\US2\SPY",C). It would give you an error ONLY if you try to apply the indicator to a chart which is NOT in the folder where the index is. For instance, let's say you open a new chart of GOOGLE which is in the folder US1. Now, you are trying to compare it to SPY which is in the folder US2. Metastock would give you an error because it ONLY looks for the symbol SPY in the folder where GOOGLE is - US1 and it can't find it. So that is what i mean by - make sure that the security to which you are applying the indicator is in the same folder as the index which you are comparing it against. With respect the explorer, you should import the formula that I provided specifically for the explorer because the code for the indicator would not work with the explorer. Let me try to explain how the P variable works by example: So you already have the code in the explorer. You close the explorer and open a new chart of any index, for instance SPY. Now you have the chart of SPY in front of you and you LEFT CLICK ONCE on ANY BAR of the chart.(You don't need to open a chart of any other security). Now you should see those squares which basically mean that you have highlighted the data for the index. After you have left-clicked on any bar, you directly (without clicking on anything else) open the explorer, click on the Mansfield exploration and click on explore. Select any security (no mater in which folder is), run the exploration and everything should be fine. The P variable is defined when you LEFT CLICK ONCE ON ANY BAR of the chart. It allows you to use the data for one security to compare it with any another security within the explorer, such as the case with the Mansfield Relative Strength. It is also used for other things but they are not relevant to this discussion.Check it out. VT

Yes, exactly those squares. here is the debugged code: x:= P; R:= C/x; base:= Sum(R,52)/52; mf:= ((R/base)-1)*10; mf>Ref(mf,-7) AND (CLOSE > 20) AND (Mov(C,30,S) > Ref(Mov(C,30,S),-1) AND (ATR(14) > 0.8) AND (VOLUME > 10)) Basically, you had forgot to define the periods of the ATR. Let me give you a little hint, whenever a message proms up it means that you have done something wrong or (as in this case) have forgot to add something. Now whenever you see the message, the moment you click ok on the message your typing cursor "|" will be pointing at wherever the error is so you can easily fix it. I had just tried the above formula and it works fine. MAKE SURE to define P (check my previous post on how to). And btw do NOT separate those conditions by";" . ";" is used to evaluate every line separately from the previous which you don't need to do here. Check it out know. VT