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Registered User
Joined: 3/16/2005
Posts: 15
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When in pointer mode for GE today the data box indicates LinReg 50 1.55
and the Visual Slope for the Linear regression indicator indicates
-1.72. Why does one linear regression indicate 1.55 and the other -1.72?
Thanks,
John Rudolf
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I'm not sure where LinReg 50 would indicate 1.55 in the Pointer Date Box for GE (I'm getting 36.06, which is not the Slope), but the Visual Slope will not represent actual values or net changes in any case. You may wish to review the following topics for an explanation of the calculation of the Visual Slope of a Linear Regression Line in TeleChart:
PCF TO RANK MUTUAL FUNDS USING LINEAR REGRESSION LINE
Linear Regression Visual Sorts from "n" days ago.
-Bruce
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Registered User
Joined: 1/1/2005
Posts: 2,645
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QUOTE (Bruce_L) I'm not sure where LinReg 50 would indicate 1.55 in the Pointer Date Box for GE (I'm getting 36.06, which is not the Slope), ...
Bruce,
When on Logarithmic Scale, the Pointer Date Box (incorrectly) reads the logarithm to the base 10 of the
Linear Regression line value. In the case of GE, the LR50 on 01/04/08 reads 1.56.
My guess is that John is on Logarithmic Scale.
Thanks,
Jim Murphy
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Registered User
Joined: 3/16/2005
Posts: 15
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I guess my question is, "What does the second number in the position mode data box for LinReg represent?" I thought that it was the visual slope of the linear regression channel. If not what does it represent? Yes, I was scaling logarithmic and the number increases when the chart is scaled arithmetic and the slope will change, but the effect is not dramatic for slope as calculated by visual slope. The second number in the position mode data box for LinReg changes significantly. So again what does that second number represent?
Thanks John
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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jmr66,
The number it represents is the value of the right endpoint, not the slope. In Arithmetic Scaling it displays the actual value. When using Logarithmic Scaling, it is displaying the Logarithm to the base ten of this value instead (as already noted by bustermu).
-Bruce
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Registered User
Joined: 3/16/2005
Posts: 15
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Ok. Thanks for correcting my misunderstanding. As a follow up question is there a way to have automatically displayed the virtual slope of the linear regression channel? Right now I go through the steps of selecting the linear regression indicator, select virtual slope and sort, and finally have the sort displayed as a column header. Is there a way to have that indicator be more permanent like a PCF and have that PCF display as a column header so that it is always available for viewing?
John
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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jmr66,
Links to topics with details of these calculations were provided in my Monday, January 07, 2008 8:45:23 AM ET post. You may wish to try the following:
LR50 Visual Slope for Zoom 6 or less (Zoomed out to at least Zoom 6):
100 * (24.5 * C + 23.5 * C1 + 22.5 * C2 + 21.5 * C3 + 20.5 * C4 + 19.5 * C5 + 18.5 * C6 + 17.5 * C7 + 16.5 * C8 + 15.5 * C9 + 14.5 * C10 + 13.5 * C11 + 12.5 * C12 + 11.5 * C13 + 10.5 * C14 + 9.5 * C15 + 8.5 * C16 + 7.5 * C17 + 6.5 * C18 + 5.5 * C19 + 4.5 * C20 + 3.5 * C21 + 2.5 * C22 + 1.5 * C23 + .5 * C24 - .5 * C25 - 1.5 * C26 - 2.5 * C27 - 3.5 * C28 - 4.5 * C29 - 5.5 * C30 - 6.5 * C31 - 7.5 * C32 - 8.5 * C33 - 9.5 * C34 - 10.5 * C35 - 11.5 * C36 - 12.5 * C37 - 13.5 * C38 - 14.5 * C39 - 15.5 * C40 - 16.5 * C41 - 17.5 * C42 - 18.5 * C43 - 19.5 * C44 - 20.5 * C45 - 21.5 * C46 - 22.5 * C47 - 23.5 * C48 - 24.5 * C49) / 10412.5 / (MAXH52 - MINL52)
You can display this value in a Watchlist Column or in the chart's Data Bar.
How to create a Personal Criteria Forumula (PCF)
Customize the Information Displayed in the WatchList
Customize the Data Bar to display selected data points
-Bruce
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Registered User
Joined: 3/16/2005
Posts: 15
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Tried your suggestion and created a PCF named LR50 Visual slope consisting of the following:
100 * (24.5 * C + 23.5 * C1 + 22.5 * C2 + 21.5 * C3 + 20.5 * C4 + 19.5 * C5 + 18.5 * C6 + 17.5 * C7 + 16.5 * C8 + 15.5 * C9 + 14.5 * C10 + 13.5 * C11 + 12.5 * C12 + 11.5 * C13 + 10.5 * C14 + 9.5 * C15 + 8.5 * C16 + 7.5 * C17 + 6.5 * C18 + 5.5 * C19 + 4.5 * C20 + 3.5 * C21 + 2.5 * C22 + 1.5 * C23 + .5 * C24 - .5 * C25 - 1.5 * C26 - 2.5 * C27 - 3.5 * C28 - 4.5 * C29 - 5.5 * C30 - 6.5 * C31 - 7.5 * C32 - 8.5 * C33 - 9.5 * C34 - 10.5 * C35 - 11.5 * C36 - 12.5 * C37 - 13.5 * C38 - 14.5 * C39 - 15.5 * C40 - 16.5 * C41 - 17.5 * C42 - 18.5 * C43 - 19.5 * C44 - 20.5 * C45 - 21.5 * C46 - 22.5 * C47 - 23.5 * C48 - 24.5 * C49) / 10412.5 / (MAXH52 - MINL52)
Updated my system.
Inserted a column labeled LR50 Visual slope.
Inserted a column labeled Sort Value.
and Ran Indicator sort against my Linear Regression indicator (period 50 extension 10 width 25) visual sort.
It resulted in two columns
i.e Sort Value LR50 Visual Slope
FPL 1.29 .44
Have I entered incorreect information in the PCF? It seems to me the Sort Value visual slope is the correct value and the LR50 PCF is calculating something else.
John
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Your only mistake seems to be in not mentioning that your Linear Regression Line has an extension (which would make it have a different slope). An extension value of 10 means you actually need to add 10 to most of the Days Ago parameters used in the calculation. Please try the following instead:
100 * (24.5 * C10 + 23.5 * C11 + 22.5 * C12 + 21.5 * C13 + 20.5 * C14 + 19.5 * C15 + 18.5 * C16 + 17.5 * C17 + 16.5 * C18 + 15.5 * C19 + 14.5 * C20 + 13.5 * C21 + 12.5 * C22 + 11.5 * C23 + 10.5 * C24 + 9.5 * C25 + 8.5 * C26 + 7.5 * C27 + 6.5 * C28 + 5.5 * C29 + 4.5 * C30 + 3.5 * C31 + 2.5 * C32 + 1.5 * C33 + .5 * C34 - .5 * C35 - 1.5 * C36 - 2.5 * C37 - 3.5 * C38 - 4.5 * C39 - 5.5 * C40 - 6.5 * C41 - 7.5 * C42 - 8.5 * C43 - 9.5 * C44 - 10.5 * C45 - 11.5 * C46 - 12.5 * C47 - 13.5 * C48 - 14.5 * C49 - 15.5 * C50 - 16.5 * C51 - 17.5 * C52 - 18.5 * C53 - 19.5 * C54 - 20.5 * C55 - 21.5 * C56 - 22.5 * C57 - 23.5 * C58 - 24.5 * C59) / 10412.5 / (MAXH62 - MINL62)
-Bruce
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Registered User
Joined: 3/16/2005
Posts: 15
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Much better.
Sort Value LR50 Visual slope
FPL 1.29 1.28
PG 1.13 1.14
FRO .71 .74
AAPL .50 .51
OMG .36 .37
ELN -.18 -.17
VZ -.52 -.53
T -.90 -.91
HOT -.98 -1.06
IBM -1.05 -1.06
KRY -1.36 -1.34
RGR -1.56 -162
C -1.57 -1.57
FRPT -159 -1.74
C was the same for both methods, most were only .01 different, FRPT, RGR and HOT seemed to be significantly different. Generally they were in line. Do you have any idea why the slight discrepancy?
John
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I do not know what is causing the slight differences (rounding?). The larger differences are probably caused by the fact that the formula was written with Arithmetic Scaling in mind. You may wish to try the following instead:
100 * (EXP((24.5 * LOG(C10 ) + 23.5 * LOG(C11) + 22.5 * LOG(C12) + 21.5 * LOG(C13) + 20.5 * LOG(C14) + 19.5 * LOG(C15) + 18.5 * LOG(C16) + 17.5 * LOG(C17) + 16.5 * LOG(C18) + 15.5 * LOG(C19) + 14.5 * LOG(C20) + 13.5 * LOG(C21) + 12.5 * LOG(C22) + 11.5 * LOG(C23) + 10.5 * LOG(C24) + 9.5 * LOG(C25) + 8.5 * LOG(C26) + 7.5 * LOG(C27) + 6.5 * LOG(C28) + 5.5 * LOG(C29) + 4.5 * LOG(C30) + 3.5 * LOG(C31) + 2.5 * LOG(C32) + 1.5 * LOG(C33) + .5 * LOG(C34) - .5 * LOG(C35) - 1.5 * LOG(C36) - 2.5 * LOG(C37) - 3.5 * LOG(C38) - 4.5 * LOG(C39) - 5.5 * LOG(C40) - 6.5 * LOG(C41) - 7.5 * LOG(C42) - 8.5 * LOG(C43) - 9.5 * LOG(C44) - 10.5 * LOG(C45) - 11.5 * LOG(C46) - 12.5 * LOG(C47) - 13.5 * LOG(C48) - 14.5 * LOG(C49) - 15.5 * LOG(C50) - 16.5 * LOG(C51) - 17.5 * LOG(C52) - 18.5 * LOG(C53) - 19.5 * LOG(C54) - 20.5 * LOG(C55) - 21.5 * LOG(C56) - 22.5 * LOG(C57) - 23.5 * LOG(C58) - 24.5 * LOG(C59)) / 10412.5) - 1) / ((MAXH62 / MINL62) ^ (1 / 61) - 1) / 61
It is written with Logarithmic Scaling in mind, but I'm not quite sure I have it right yet.
-Bruce
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Registered User
Joined: 3/16/2005
Posts: 15
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Tried it with the new PCF with the following results:
Sort Value LR50 Visual slope
FPL 1.23 1.23
PG 1.18 1.18
FRO .78 .77
AAPL .48 .48
OMG .47 .46
ELN -.29 -.29
VZ -.43 -.43
T -.77 -.77
HOT -1.00 -1.00
IBM -.93 -.93
KRY -1.40 -1.39
RGR -1.44 -1.42
C -1.51 -1.49
FRPT -1.64 -1.59
Now most match or are only .01 or .02 apart. FRPT is the only exception .05. Good enough for my purposes.
Thanks for your help,
John
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome. I'll play with it some more to see if I can get FRPT to come out closer. Like I said, I'm not sure I have it right yet, but it may end up being as close as it gets.
-Bruce
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