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Registered User
Joined: 12/28/2004
Posts: 11
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I have two questions.
1. How can I use the relative strength (notRSI) indicator in personal
criteria formulas. I would like to find stocks that have a RS versus the
SPY that is above it's 13 day moving average.
2. I am trying to use a %True indicator with a 250 day simple moving
average to sort my watchlist. Although it displays correctly on my chart,
all the values are 0 on the watchlist. What is wrong?
thanks.
Georgia
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Georgia:
Currently, there is no way to write PCF's using Relative Strength. However, there is an easy way to find stocks that have a relative strength (vs. SPY) that is above its 13 day moving average.
Plot both the RS and the 13 day MA of RS in either the middle or bottom chart windows. Now, sort by Relative Strength compared to the Moving Average (Visual Difference sort method). Any stock returning a value greater than zero will have the RS line above the MA. The closer to zero, the closer RS will be to the MA. Large positive numbers will show RS well above its MA. Large negative numbers will show RS well below its MA.
If you're not familiar with the visual comparison sort, click on the following link to view a short video that demonstrates this powerful technique.
http://www.worden.com/training/default.aspx?g=posts&t=117
If you'll give me the formula you're using in your % True custom indicator, I'll investigate to see what might be causing your problem with the values coming up as zero.
- Doug
Teaching Online!
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Registered User
Joined: 12/28/2004
Posts: 11
|
Doug:
Thanks for the tip on the sorting for RS versus its moving average.
HOwever, why would you not use the % difference versus the visual comparison to get a quantitative answer?
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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You could do that, Georgia. It's just that when scrolling through a list of stocks, you're often looking at the charts, and I like to see the two lines close together. Sometimes, due to chart scaling, even if the percentage difference is quite small, the lines can look farther apart on the chart.
Try it both ways and see which sort you like best. Some say po-TAY-to and some say po-TAH-to!
- Doug
Teaching Online!
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