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Registered User
Joined: 9/1/2009
Posts: 14
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I am a new user of Telecharts/Stockfinder & am fumbling my way through what appears to be a very powerful pieces of software. What I am trying to determine is whether there is an Indicator, PCF etc available which will give me a list of stocks that mimic market sentiment & in particular stock that mimic the movements of the index/sector that they belong too. Its the old 75% of stocks follow the trend of their Indice rule however I was hoping for an indicator that will refine this generalisation somewhat. If an indicator or formulae code does not exist any advise about where I should go to get this info would be great. Unfortunately for now I have to much to learn before I even consider trying to write my own formulae etc. Anyway thanks for now.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You might want to try using correlation in StockFinder. This should range from 1 to -1. Something that has an exact linear relationship to the comparison symbol should have a correlation of 1. Something that has an opposite linear relationship (slopes the opposite direction) should have a correlation of -1. Something that does not have a linear relationship should have a correlation of 0 (with a variety of degrees in between).
You should be able to Open an attached Indicator directly into a running copy of StockFinder (and save it from within StockFinder if desired).Attachments:
Correlation with Symbol.sfInd - 5 KB, downloaded 515 time(s).
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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 Platinum Customer
Joined: 3/31/2006
Posts: 3,207
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Bruce is the correlation Block the r-Squared between symbol and a symbol?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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No, but they are related. R-Squared is generally the square of the Correlation Coefficient.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/28/2007
Posts: 3
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Bruce, is it possible to show the code for this indicator? I like the way it handles the intermarket association with any index. I am a newbee, but maybe I can use the technique. Thank you!
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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rtoribio,
The Code of the Correlation Block used in the Indicator is not currently accessible to end users.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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