Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User Joined: 3/10/2012 Posts: 465
|
hey Bruce
hope u had good weekend
I was trying to locate spearman indicator on forum chat but could not find anything useful
you had worked on this in past and i didn't find in indicator library on V16 can u please help to make a new one this was your link as below in stock finder is
http://traders.com/Documentation/FEEDbk_docs/2011/02/TradersTips.html#TT5
please help in creating spearman indicator which i can use in form of Oscillator like stochastic
I need oscillating line between settings as +100 and -100 which i can use for Heikan Ashi candles open vs close for identifying reversal in HA candles here is the equation
Spearman’s Correlation Spearman’s ρ (rho) is a non-parametric measure of correlation between two ranked variables. It is similar to Pearson’s Product Moment Correlation Coefficient, or Pearson’s r. It indicates magnitude and direction of the association between two variables that are on interval or ratio scale. Like Pearson’s r a negative correlation indicates that when X is increasing then Y is decreasing. With Spearman’s ρ when there are no ties in the ranking then the correlation is defined in Equation ρ = 1 − 6 · E'd2 / n · (n2 − 1) (1) Where: n = number of rank pairs d = difference between paired ranks
E in formula above is SUM could not get symbol copy paste :)
Thanks a lot
Dhiren
|
|
Worden Trainer
Joined: 10/7/2004 Posts: 65,138
|
I do not know of a practical automated method of creating the Spearman Indicator for TC2000 (and I created the version which is available in StockFinder 5).
-Bruce Personal Criteria Formulas TC2000 Support Articles
|
|
Registered User Joined: 3/10/2012 Posts: 465
|
Bruce here is the details from Think or Swim for Spearman Indicator ... do u think this can help to make indicator for TC2000
Spearman
Description
The Spearman study is a technical indicator used for evaluation of trend strength and turning point detection. This study calculates Spearman's rank correlation coefficient in order to reveal correlation between actual price changes and extremely strong trend. The Spearman indicator registers two sets of data: prices of each bar during the specified period in their chronological order and the same prices sorted ascendingly. Spearman's ratio found for these two sets is then multiplied by 100; value of +100 suggests strong correlation with uptrend and -100, with downtrend.
Since the extreme values of -100 and +100 are rarely recorded, values of +80 and -80 might be used as overbought and oversold levels respectively. Plotting the Spearman indicator along with its short SMA (e.g., three day SMA on daily charts) might give an idea when to expect the turning points: look for the crossovers of the two plots. Useful information can also be obtained by analyzing action of the indicator in relation to zero level: crossing above the zero level might be an opportunity for the Long Entry while falling below zero might suggest the Short Exit.
Input Parameters
price |
The price to be used in calculation of Spearman's ratio. |
length |
The number of bars in the period on which the prices are registered. |
average length |
Defines period of SMA of Spearman indicator. |
over bought |
Defines value of the overbought level. |
over sold |
Defines value of the oversold level. |
Plots
Spearman |
The Spearman plot. |
SpearmanAverage |
The SMA of Spearman indicator. |
OverBought |
The overbought level. |
ZeroLine |
The zero level. |
OverSold |
The oversold level. |
Further Reading
1. "The Spearman Indicator for Technical Analysis" by Dan Valcu. Technical Analysis of Stocks & Commodities, February 2011.
thanks
Dhiren
|
|
Registered User Joined: 3/10/2012 Posts: 465
|
here is the link
http://tradersonline-mag.com/01_ezine/01_traders/en/2011/04/index.html
|
|
Registered User Joined: 3/10/2012 Posts: 465
|
page 72
|
|
Registered User Joined: 3/10/2012 Posts: 465
|
http://tradersonline-mag.com/01_ezine/01_traders/en/2011/05/index.html#/57/zoomed
page 57 on part 2
I really hope this can be done Bruce
Thanks a lot
|
|
Worden Trainer
Joined: 10/7/2004 Posts: 65,138
|
No, I can't make in TC2000. I've already tried.
I understand the details of how the Spearman indicator is constructed. I was already able to use that knowledge to successfully construct the indicator in StockFinder.
The difference is that for you to construct the indicator in TC2000, we would need to use the Personal Criteria Formula Language to make the indicator using Custom PCF Indicators.
The PCF Language is not a full programming language like the RealCode used in SF. It is designed to write a single formula in a single logical line and does not have user assigned variable or looping and its if...then structures need to be teased out how the Boolean data type is converted to the single floating point data type within the program.
-Bruce Personal Criteria Formulas TC2000 Support Articles
|
|
Registered User Joined: 3/10/2012 Posts: 465
|
Hi Bruce
hope you doing good, just wondering is V17 now capable to make this Spearman Indicator as discussed in past , if so could you please help to create for 9 period
And in the new Beta version did the developers got chance to add toggle CTRL B " for heikanashi bars ?
Regards
Dhiren
|
|
Worden Trainer
Joined: 10/7/2004 Posts: 65,138
|
Unfortunately TC2000 v17 did not add the features to the Personal Criteria Formula Language which would be necessary to allow us to reasonably calculate the Spearman Indicator.
The ctrl-b toggle still toggles between four types of price charts which do not include Heiken-Ashi (Line, HLC Bar, OHLC Bar, and CandleStick).
-Bruce Personal Criteria Formulas TC2000 Support Articles
|
|
Guest-1 |