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Does anyone have any ideas for IBD's Canslim technical ratings? Rate this Topic:
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Deion
Posted : Thursday, July 13, 2006 11:15:44 PM
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Posts: 89
I am a person who likes to look at a variety of investing ideas (from Buffett to WON to contrarian methods). Using TC2005 I have been able to find some very good CANSLIM fundemental stocks (the C and A)portions cause I view the ratings in the stock check up screen. I am having a hard time generating stocks with good technical ratings using TC. If anyone is familiar with IBD's Canslim approach and can offer any advice I would greatly appreciate it.
Bruce_L
Posted : Friday, July 14, 2006 7:46:36 AM


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Joined: 10/7/2004
Posts: 65,008
You may wish to review the following:

CANSLIM

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
tsisung
Posted : Friday, July 21, 2006 10:45:59 PM
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Joined: 4/3/2005
Posts: 41
Here is the formula I use for the Relative Strength Rank (set it at Market Rank). It produces a RS Rank that nearly matches IBD's for every stock.

((((C - C63) / C63) * .4) + (((C - C126) / C126) * .2) + (((C - C189) / C189) * .2) + (((C - C252) / C252) * .2)) * 100
surfer94131
Posted : Wednesday, June 06, 2007 1:53:20 PM
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Joined: 5/31/2007
Posts: 25
Tsisung hi

I found your pcf today, are you still using it?

Can you tell me why it gets a value over 100? I tried using SILC as a test symbol and got an RS of 165.

I thought that would cap out at 100, so i am not understanding something.

Thanks
Surfer94131
Craig_S
Posted : Wednesday, June 06, 2007 2:59:36 PM


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Are you using RANK or Value? If you sort by this, make sure you right-click the sort column header and set it to Market Rank.

- Craig
Here to Help!
surfer94131
Posted : Wednesday, June 06, 2007 3:06:03 PM
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Craig, thanks, that did it. Novice at work over here :)

Can you tell, does this formula return the RS for a specific time period, say the last six months, or year, or something along those lines.

Ideally I would like to have 2 pcfs, one for a 6 month and one for a 3 month RS, so understanding how to construct this pcf for a specific time is important to me.

Thanks for the information

Surefer94131
Bruce_L
Posted : Wednesday, June 06, 2007 3:13:28 PM


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surfer94131,
The formula combines Price Percent Change formulas for 3-Months, 6-Months, 9-Months and 12-Months (in that order) with double weight being placed on the 3-Month component.

It is not a Relative Strength value, but since Price Percent Change and Relative Strength have the same sort order, the Percentile Rank is the same.

I do not know of a way to create a completely automated Relative Strength formula in TeleChart.

You may wish to review the following for a semi-automated technique for creating Relative Strength in a Personal Criteria Formula:

Indexes in PCF's

There is a specific Relative Strength Criteria built in as one of TeleChart's System Criteria:

Relative Strength 1-Yr (vs SP-500) - The relative change in price of a stock over the past year compared to the change in the SP-500 over the same time. The calculation is : (Latest Close Price of Stock / Latest Close Price of SP-500) / (Close Price of Stock 1 year ago / Close Price of SP-500 1 year ago) * 100.

You may wish to review the following:

Definitions of all built in scanning and sorting criteria

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
Craig_S
Posted : Wednesday, June 06, 2007 3:15:45 PM


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The PCF given above:

((((C - C63) / C63) * .4) + (((C - C126) / C126) * .2) + (((C - C189) / C189) * .2) + (((C - C252) / C252) * .2)) * 100

Averages the changes over the last 63, 126, 189 and 252 days. The 63-day change has twice the influence in the average than the other three periods.

For just a simple 6-month use this as a MARKET RANK

C/C126

For 3-month use

C/C63



- Craig
Here to Help!
surfer94131
Posted : Wednesday, June 06, 2007 3:26:51 PM
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Posts: 25
If I understand you are saying that I should use , for 3m, the pcf as posting, and for 6 months, ilke this:

((((C - C126) / C126) * .4) + (((C - C189) / C189) * .2) + (((C - C252) / C252) * .2)) * 100

Thanks again for the help.

Surfer94131


Craig_S
Posted : Wednesday, June 06, 2007 3:36:30 PM


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It depends. Do you want to also include the 189 and 252 changes in the ranking? If so, your adaptation gives the 126 change twice the influence as the 189 and 252 changes.

- Craig
Here to Help!
surfer94131
Posted : Wednesday, June 06, 2007 4:00:34 PM
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Posts: 25
I guess I am not sure what to do here, exactly.

What I want is a way to logically say "scan for all stocks that have a 6m RS >=90 and a 3m_RS >=70"

I guess that both versions of the pcf if go back over the past year, so that would imply that the logic "over the last year" would be added to my statement above.

I realize that this is a way to "hack" a RS ranking out of Telecharts, and that there is no perfect way to do this.

Another question, what is the built in RSI variable used for? Can't I use that and change the period to 252 (for 1 year), or 126 for 6 months or 63 for 3 months, and use those?

Thanks
Surfer94131
Bruce_L
Posted : Wednesday, June 06, 2007 4:09:33 PM


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surfer94131,
RSI is Wilder's RSI. It is not related to Relative Strength (other than having a similar name).

As indicated previously, Price Percent Change and Relative Strength have the same sort order, so the Percentile Rank is the same.

If you are looking for the Percentile Rank of the 6-Month Relative Strength to be greater than or equal to ninety and the Percentile Rank of the 3-Month Relative Strength to be greater than or equal to seventy, create 6-Month and 3-Month Price Percent Change Personal Criteria Formulas:

Price Percent Change 6-Month:

100 * C / C126 - 100

Price Percent Change 3-Month:

100 * C / C63 - 100

Then create an EasyScan using both PCFs as EasyScans Conditions with the EasyScan Rangefinder set appropriately:

Select New | New EasyScan.
- Watchlist: All Stocks.
- Price Percent Change 6-Month: Rank: 90 to Max.
- Price Percent Change 3-Month: Rank: 70 to Max.

If you are looking for the symbol to have outperformed another arbitrary symbol over a 6-Months by more than 90% and over 3-Months by more than 70%, I do not know of a practical method other than the one already referenced in my Wednesday, June 06, 2007 3:13:28 PM ET post.

You may wish to review the following:

How to create a Personal Criteria Forumula (PCF)
Handy PCF example formulas to help you learn the syntax of PCFs!

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
bustermu
Posted : Thursday, June 07, 2007 2:43:48 AM
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Joined: 1/1/2005
Posts: 2,645
QUOTE (Bruce_L)
The formula combines Price Percent Change formulas for 3-Months, 6-Months, 9-Months and 12-Months (in that order) with double weight being placed on the 3-Month component.

It is not a Relative Strength value, but since Price Percent Change and Relative Strength have the same sort order, the Percentile Rank is the same.


If by "Relative Strength" you mean the Relative Strength Indicator value, the statement is false. If by "Relative Strength" you mean Relative Strength Indicator Percent Change, the statement is true.

If we replace Price Percent Changes in the formula by Relative Strength Indicator Percent Changes, they will not have the same sort order.

QUOTE (Bruce_L)
There is a specific Relative Strength Criteria built in as one of TeleChart's System Criteria: ...


There are three specific Relative Strength Criteria built in as TeleChart's System Criteria:

30 Day Price Trend vs Market - [(Latest Close Price of Stock / Latest Close price of S&P 500 divided by [(Close Price 4 weeks ago / Close Price of S&P 500 4 weeks ago)]*100

5 Day Price Trend vs Market - [(Latest Close Price of Stock / Latest Close Price of S&P 500)] divided by [(Last Weeks Close Price / Last Weeks Close Price of S&P 500] *100

Relative Strength 1-Yr (vs SP-500) - (Latest Close Price of Stock / Latest Close Price of SP-500) / (Close Price of Stock 1 year ago / Close Price of SP-500 1 year ago) * 100.

It is stated in the Help Files that these are updated daily. I do not know anything about the first two, but the third is updated only weekly. I have not been able to reproduce the results of the third. I suggest that if you do not know what it is, do not use it.

Thanks,
Jim Murphy
Designer
Posted : Tuesday, July 10, 2007 1:19:02 AM
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Joined: 9/30/2006
Posts: 317
Would you guys at the Worden team be able to create a Blocks strategy that searches for stocks that meet the CANSLIM criteria?
Would be fantastic.
thanks
Bruce_L
Posted : Friday, July 20, 2007 11:30:17 AM


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Posts: 65,008
saatfj,
I've attached a Strategy Condition (actually a group of Conditions) to CANSLIM that should include all of the EasyScan Conditions mentioned in that topic by Craig in his Friday, January 21, 2005 8:19:02 AM ET post. You will need to adjust it to meet how you want the CANSLIM Conditions defined.

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
Eternum
Posted : Tuesday, March 04, 2008 10:31:41 PM
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Joined: 8/6/2005
Posts: 40
I'm wondering if that is possible to plot IBD RS-like indicator as Market Rank instead of actual value?

Thanks.
Bruce_L
Posted : Wednesday, March 05, 2008 9:29:23 AM


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Joined: 10/7/2004
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Eternum,
I do not know of a way to do so currently using TeleChart. It is possible to do so using Blocks using the Rank vs List (Percent Rank) Block (although Rank based Plots and Conditions are generally much slower and resource intensive in Blocks than Value based Plots and Conditions).

You may wish to review the following:

fundamentals
Indicators
Screening for stocks
Weighted Quarters

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
rene6985
Posted : Sunday, January 16, 2011 1:53:40 PM
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Joined: 5/20/2010
Posts: 11
((((C - C126) / C126) * .4) + (((C - C189) / C189) * .2) + (((C - C252) / C252) * .2)) * 100


Seems this Criteria doesn't work in my Gold telechart.
diceman
Posted : Sunday, January 16, 2011 2:17:42 PM
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Joined: 1/28/2005
Posts: 6,049
QUOTE (rene6985)
((((C - C126) / C126) * .4) + (((C - C189) / C189) * .2) + (((C - C252) / C252) * .2)) * 100


Seems this Criteria doesn't work in my Gold telechart.


Your PCF:

((((C - C126) / C126) * .4) + (((C - C189) / C189) * .2) + (((C - C252) / C252) * .2)) * 100

worked on my computer. (Telechart Gold)


Thanks
diceman


fpetry
Posted : Monday, January 17, 2011 11:39:59 AM
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Joined: 12/2/2004
Posts: 1,775

QUOTE (diceman)
QUOTE (rene6985)
((((C - C126) / C126) * .4) + (((C - C189) / C189) * .2) + (((C - C252) / C252) * .2)) * 100


Seems this Criteria doesn't work in my Gold telechart.


Your PCF:

((((C - C126) / C126) * .4) + (((C - C189) / C189) * .2) + (((C - C252) / C252) * .2)) * 100

worked on my computer. (Telechart Gold)


Thanks
diceman



Worked perfectly for me too diceman, TC Gold.

Out of curiosity I chose the SP400 MidCap Component Stocks as a wathchlist and sorted with this pcf, and then sorted with TC's built in sort "Price Percent Change 26-Week."  The results of the comparison were very, very close.  I flagged the top 20 sorts from the pcf, then sorted by the built in TC 26-week change, and 15 of the pcf flagged stocks were within the top 20 of the TC 26-week sort.  Just from this first simple little test I think using the built in TC sort for finding strong RS on a six mo. period might work just as well.   And if using as a pcf condition for an EasyScan, the formula is a simple one and shown by clicking the little blue "i" icon in the pcf list .

kerryh1959
Posted : Monday, January 17, 2011 12:13:39 PM
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Joined: 9/20/2005
Posts: 149
Is there a way to show market rank in TC2000 v.11?
Bruce_L
Posted : Monday, January 17, 2011 12:19:12 PM


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Joined: 10/7/2004
Posts: 65,008
All questions, comments and suggestions related to the TC2000.com version 11 beta should be addressed to:

feedback@tc2000.com

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
nitpicker
Posted : Sunday, August 19, 2018 8:11:42 AM
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Joined: 8/13/2018
Posts: 24

I´ve tried to build this formula with TC2000 for the RS Ranking: 

((((C - C63) / C63) * 0.4) + (((C - C126) / C126) * 0.2) + (((C - C189) / C189) * 0.2) + (((C - C252) / C252) * 0.2)) * 100

 

There are some differences to the real IBD RS.

Here the comparison from today:

AMRS           IBD RS: 97      TC2000 RS: 82,53

SQ                IBD RS: 98      TC2000 RS: 81,3

ELVT             IBD RS: 90      TC2000 RS: 29,59

MYOK           IBD RS: 86      TC2000 RS: 20,22

 

It was clear to me that there is no one to one comparison, but in the results showing above the RS shows no linearity? Or have I made something wrong?

Thank you in advance, 

Steffen

 

 
bcochrane
Posted : Sunday, August 19, 2018 9:32:06 AM
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Posts: 478

The TC2000 formula returns an absolute value. It can be over 100

IBD returns a ranking value, from 1 to 100 (or maybe 99). They do it by calculating the absolute value, and then giving us the Rank

We can Scan based on Relative Rank to do the equivalent of what IBD does

  1. Add IBD RS TC2000 formula as indicator on your chart
  2. Right Click on Indicator Name
  3. Select Create Condition
  4. For Condition (default is Gtreater Than, select Ranks
  5. Move the upper and lower bars to what you want (example: Lower bar at 90, Upper bar at absolute top will return Stocks whose IBD RS value is in top 10%)

Manually, you could add IBD RS value as calculated by TC2000 as a column in your watchlist, and then sort on it. You'll see a few very high values but it drops down quickly, and you can see what value is at say, 95% (for today)

Or create a Scan Light in the watch list, and the resulting bar is proportional to the Rank within the universe.

There is a slight discrepency in your examples between AMRS and SQ, the higher TC2000 formula should have a higher IBD RS rank, but I've never seen a major discrepency which would affect my trading decisions

 

nitpicker
Posted : Sunday, August 19, 2018 5:03:10 PM
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Joined: 8/13/2018
Posts: 24

Thank you for your explanation. I'm new with TC2000 and your comment was also very helpful for me to learn how to put the indicator in the chart. I'm still an IBD subscriber but it would be a time safer routine if I had the direct (more or less) IBD RS ranking in my TC2000 watchlist. I'm working with the Minervini Trend Template and the last criteria is an IBD RS Ranking greater than 70. Let see what I can learn in the next month here. Very great program and the best service with this board I've ever seen. I would appreciate this kind of service here in Germany. 

Have fun and a good start in the new trading week. 

Best regards, 

Steffen

 

tardi44
Posted : Friday, August 31, 2018 4:45:20 PM
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Joined: 7/13/2018
Posts: 1

QUOTE (Craig_S)
The PCF given above:

((((C - C63) / C63) * .4) + (((C - C126) / C126) * .2) + (((C - C189) / C189) * .2) + (((C - C252) / C252) * .2)) * 100

Averages the changes over the last 63, 126, 189 and 252 days. The 63-day change has twice the influence in the average than the other three periods.

For just a simple 6-month use this as a MARKET RANK

C/C126

For 3-month use

C/C63

Hello,

I get an error with the formula above. Here a capture of the error message. Could you please helpe me, i'm a newbie ;) 

 

Bruce_L
Posted : Friday, August 31, 2018 4:49:16 PM


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Joined: 10/7/2004
Posts: 65,008

Does your computer happen to be set to use the , as the decimal marker instead of using the . as the decimal marker as would be more common in the United States? If so, you may want to try rewriting the formula in such a way that it doesn't use decimal markers at all.

40 * C / C63 + 20 * C / C126 + 20 * C / C189 + 20 * C / C252 - 100



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
OWO
Posted : Wednesday, January 16, 2019 7:57:44 AM
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Joined: 5/7/2010
Posts: 13

Nitpicker

Do you have a scan based on Minervini strategy? I just finished reading his book and will like to create a scan. Thank you.

Bruce_L
Posted : Wednesday, January 16, 2019 9:31:42 AM


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Joined: 10/7/2004
Posts: 65,008

If what I found on the internet is correct, then all of the requirements of the trend template besides IBD Relative Strength should be part of the following condition formula.

C > AVGC50 AND AVGC50 > AVGC150 AND AVGC150 > AVGC200 AND TrueInRow(C > C200, 30) = 30 AND C >= 1.3 * MINL252 AND C >= .75 * MAXH252

There isn't a way to convert the following base formula for IBD Relative Strength from a value to a rank in TC2000, but you could use it as a WatchList Column and sort.

40 * C / C63 + 20 * C / C126 + 20 * C / C189 + 20 * C / C252 - 100



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
bcochrane
Posted : Thursday, January 17, 2019 1:09:54 PM
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Posts: 478

If you plot the PCF for IBD RS on the chart, you can then

Create Condition on the indicator

Select Ranks and then adjust the sliders for for top 10, 20 or 30% as you want to reduce the watchlist to those which would have an IBD RS of 90, 80 or 30, respectively.

You can leave the PCF plot on your chart, delete it, or Pin to the side so that it does not take space, but is accessible

At the time of this post, selecting stocks with IBD RS in the top 20% (along with other criteria) leaves 156 stocks from the High Cap 3000 list

easyguru1
Posted : Friday, January 25, 2019 6:00:11 PM
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Joined: 3/19/2011
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40 * C / C63 + 20 * C / C126 + 20 * C / C189 + 20 * C / C252 - 100

 

can be simplified to

 

2 * C / C63 +  C / C126 +C / C189 +  C / C252 - 100

Ultimately theere is lot of duplication in that data. Easier way to do this would be just sort by

c/avgc126

and select top 10% or 20% 

Bruce_L
Posted : Monday, January 28, 2019 10:38:11 AM


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The 2 * C / C63 + C / C126 + C / C189 + C / C252 - 100 simplification is not quite correct but would work if trying to use a rank (either by using Rank in a scan or just by sorting the results). That said, this could be simplified to the following if you wanted to do this (no need for the -100).

2 * C / C63 + C / C126 + C / 189 + C / C252

But if you want this returned as a percentage (note this is not a rank), you would probably want it is follows.

20 * (2 * C / C63 + C / C126 + C / 189 + C / 252 - 5)

This would have no bearing on if just using C / AVGC126 would be better or not however (and that is the type of question upon which I really can't comment).



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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