davesaint86
725 posts
msg #57474
- Ignore davesaint86 |
12/3/2007 6:47:16 PM
Does anyone out there know what the syntax is to calculate Relative Strenght like IBD caluculates it. Also would it be the same for ETFs compared to stocks? I don't know if any of you have visited the below site but I would like to setup a filter that does the same thing listed the below free website.
http://www.etfscreen.com/rsftrends.php
Thanks-Dave
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rharmelink
81 posts
msg #57571
- Ignore rharmelink |
12/4/2007 9:14:12 PM
IBD relative strength is just a weighted quarterly return. Here's what I use:
I just replace the price and volume selection criteria with:
show etf
...when I just want to use ETFs. Unfortunately, StockFetcher's ETF list only contain 151 of the ETFs, so you might be better off creating your own watchlist of all of the ETFs you want to apply the process to.
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davesaint86
725 posts
msg #57572
- Ignore davesaint86
modified |
12/4/2007 10:18:23 PM
Thank you rharmelink. How do you make your selections based on your IBD RSV filter? Above .90?
I borrowed bits and pieces from other (TRO, SAFETRADE, etc) filters and created this one.
Dave
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rharmelink
81 posts
msg #57580
- Ignore rharmelink |
12/5/2007 12:41:14 AM
>> How do you make your selections based on your IBD RSV filter? Above .90?
I don't think an absolute value really means anything. IBD would just rank the stocks based on the value -- basically normalizing them from 1 to 99. If you look at the RSV raw data, there will be less absolute different between two stocks ranked 40 and 60 than there will be between two stocks ranked 90 and 91.
I actually export the data to an EXCEL spreadsheet to do further selections.
I use a cutoff of the top 20% of RSV (for the 151 ETF). But I also use the linear regression slope and the linear regression correlation line to make sure I've got some stability of growth. I also do some elimination based on negative quarterly returns. Again, looking for some consistency and stability. I also use a few P&F criteria from StockCharts.com.
However, so far the results haven't been all that great:
http://www.marketocracy.com/cgi-bin/WebObjects/Portfolio.woa/ps/FundPublicPage/source=JhFbAoJhEeAlOpMaMaKiAbDe/maxDays=10000
It's done well in the last month because I've been in cash -- little consistency and stability out there. However, I haven't taken the step to create a watchlist, to expand the ETF universe I *should* be using.
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