glgene
613 posts
msg #39710
- Ignore glgene |
12/21/2005 11:16:54 AM
To TheRumpledOne,
How would I go about scripting the ETF family using "momentum" as the primary point counter. I've seen where you have used columns before to help rank a stock among other stocks. Highest cumulative count (say, 5 columns with 0 and 1 showing). Thus, a cumulative 4 would be higher ranked than a 2. Not sure what the 5 colums would be, but certainly RSI I would think. Except a stock with an RSI, say of 85, would be considered overbought, and wouldn't that be considered a negative? Any help would be appreciated.
GL Gene
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alf44
2,025 posts
msg #39713
- Ignore alf44 |
12/21/2005 12:35:48 PM
glgene,
You didn't ask me...but, why not just use the Comparitive Relative Strength measure to Rank all ETFs vs. an Index ?
The following simple filter Ranks ALL ETFs Comparitive Relative Strength vs. the Russell 3000 Index over the last 30 day period !
Anything OVER 1.00 tells you the ETF is outperforming the Index !
Anything UNDER 1.00 tells you the ETF is underperforming the Index !
They are sorted in descending order with the BEST PERFORMING ETFs at the TOP !
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Simple...but an effective way to see which ETFs are OUTPERFORMING the overall Market !
Regards,
alf44
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glgene
613 posts
msg #39717
- Ignore glgene |
12/21/2005 2:14:38 PM
<< "The following simple filter Ranks ALL ETFs Comparitive Relative Strength vs. the Russell 3000 Index over the last 30 day period! >>
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What exactly does this measure? Is it the price action of an ETF vs. the overall Russell 3000 over the past 30 days?
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alf44
2,025 posts
msg #39718
- Ignore alf44 |
12/21/2005 2:30:45 PM
glgene,
This is from the SF Indicators and Measures Section of the Forums :
"The comparative relative strength computes the ratio of the change in price between two stocks. Often this measure is used to compare an input stock with the change in price of an index. On StockFetcher, you can use the comparative relative strength to find stocks that are outperforming or underperforming an index or any other given stock."
http://www.stockfetcher.com/stockdb/fetcher?p=forum&sub=view&fid=1006&tid=33617
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Regards,
alf44
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glgene
613 posts
msg #39719
- Ignore glgene |
12/21/2005 2:57:02 PM
Many thanks, alf
I did not know that capability existed in SF. Much to learn. In your example, anything special about 30 days? Seems if I wanted to make a purchase of 3-4 strongest ETFs, I would shorten the time frame. Comments?
GL Gene
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alf44
2,025 posts
msg #39721
- Ignore alf44 |
12/21/2005 3:22:58 PM
...here's the same "ETF Rank Filter" with :
* EMAs added to the charts...
* Stochs, RSI & ADX added to the charts...
* Column info added to display current readings of Stochs, RSI & ADX...
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At a glance...
you can see which ETFs are outperforming OR underperforming the overall Market (ie. Russell 3000)...
you can see through the column info which are Overbought or Oversold etc...
you can judge Trend Intensity through the ADX column info.
Regards,
alf44
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alf44
2,025 posts
msg #39722
- Ignore alf44 |
12/21/2005 3:28:48 PM
gene,
My use of the 30 day timeframe was purely arbitrary !
Just substitute 100 days...60 days...30 days...10 days...5 days...whatever window of time you would like to measure !
Obviously, you could also use ANY Index as well. I just used the Russell 3000 because it is a pretty good proxy for the overall Market.
Good Luck,
alf44
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TheRumpledOne
6,407 posts
msg #39723
- Ignore TheRumpledOne |
12/21/2005 3:44:53 PM
I added the ZOOM LENS to the filter.
Just click on any of the moval columns to rank them.
MAY ALL YOUR FILLS BE COMPLETE.
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glgene
613 posts
msg #39732
- Ignore glgene |
12/22/2005 12:38:59 PM
Just thought of something. Alf, if the Russell 3000 is going down, and since it's the barometer in your set-up, then a reading of (say) 1.09 on a southbound ETF won't mean anything (I don't think). That's why I like the idea of 0's and 1's, and using a cumulative score accordingly. Thus, a 4 would be stronger than a 2.
That said, I still like your script for comparing relative strength. Thank you, thank you. I'll tinker with different time spans.
And thank you, TheRumpledOne. I don't know how you know so much about SF scripting. You can put into a thimble how much scripting I really understand, whereas you've got a bucketful of know-how.
Together, you guys really know your stuff! Thanks.
GL Gene
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glgene
613 posts
msg #39733
- Ignore glgene |
12/22/2005 1:43:52 PM
TRO,
I get a lot of errors with your scripting, such as "Unable to process due to set{} errors." Can you explain? Thanks.
GL Gene
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