davesaint86
726 posts
msg #57067
- Ignore davesaint86 |
11/27/2007 8:54:57 PM
Thanks Niko! Basically I read that this can be used to determine the relative strenght for example for ETFs. I entered the syntax in Google and this is what came up. From the blog the numbers that were coming up were to select ETF's that a a reading of 80 or above. Sorry for the explaning this before. I do not know if you have ever visited this ETF site http://www.etfscreen.com/rsftrends.php. They use Relative Strenght to rate their ETFs.
ROC(MOV((C/P),13,S),1,%)
This formula calculates the rate of change, as a percentage, in the relative strength of the sectors against the base index over a 13 week period. It may seem complex but let`s break it down into manageable parts, beginning with the inner-most brackets first:
C/P is the relative strength (or RSC component) of the tested sectors vs. the base security.
The way it`s calculated is by dividing the closing price of the sector, by `P`, where `P` is the base index that you highlighted before creating this exploration.
(MOV((C/P),13,S) calculates the moving average of the RSC over a 13 week period.
ROC(MOV((C/P),13,S),1,%)calculates the rate of change of the moving average of the RSC, in other words, the amount the sector has moved up or down as a percentage.
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