| Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User
Joined: 1/10/2008
Posts: 98
|
It's easy to put in the same chart one etf of my choice and sp500. However what I would want is a graph that chart the DIFFERENCE between the two. That is and let's suppose, if I choose the energy sector, and it climbs more than the sp500, the line (or candle or bar) would be up. If the energy sector is going down but the sp500 is going down more, that line will still be up. This logic is applied no matter the sp500 is going. What matters is the difference. Is it possible to chart this on tlc? And in Blocks?
Thank you
|
|
Registered User
Joined: 1/10/2008
Posts: 98
|
Hi again
Sorry to insist but my post is the only one of the last 20 that didn't get a answer, I think that in TLC it's going to be difficult if not impossible. But is it possible in Blocks?
Thank you
|
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
I don't know of a practical automated method of subtracting one from the other in TeleChart, but the same basic techniques referenced in stock vs S&P 500 Index can be used for subtraction as well as division.
In StockFinder, you can just add a Price for Symbol Indicator, change the Symbol to SP-500 and then Drag and Drop the Price History onto the Price for Symbol and select Create Indicator | Difference.
All of that said, there is actually a very good reason that Relative Strength calculations are done using a ratio instead a difference. If the symbols are not close in value, even a small change as a percentage in the higher valued symbol will generally dominate a difference, but not do the same in a ratio.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
|
Registered User
Joined: 6/17/2008
Posts: 33
|
just edit any chart template, then click on the plus icon (middle or bttom pane); then select relative strenght, and to dtermine the strenght or weakness; plot a 10sma and 40sma; when the relative strenght is above the sma ,it means strenght and when below, it means weakness. a much more easy way, go to the sorting criterias tab; then select price growth rate 1yr and those who outperformed the s&p will be among the 25 top ones. for a better understanding; ask the trainers for the RSMA report from don worden, it's great
|
|
Registered User
Joined: 6/17/2008
Posts: 33
|
here is the link: http:/www.worden.com/content/rsma.pdf
|
|
|
Guest-1 |