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Group/Sector Question
Last Activity 4/5/2017 7:35 AM
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John J

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Subject : Group/Sector Question
Posted : 4/11/2012 2:46 PM
Post #20708

An interesting tidbit in the financial news yesterday.

The stats show that the direction of an individual stock can be attributed to the following weighted factors:

- Overall market trend - 50%
- Sector trend - 25%
- Individual stock trend - 25%

Has anyone attempted to plug the above into formula builder for instance? Would be nice to have a weighted indicator in FL....
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Jim Dean

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Subject : RE: Group/Sector Question
Posted : 4/11/2012 3:10 PM
Post #20709 - In reply to #20708

This kind of info has been bruited about for a few decades ... I think it's true but I would not put a lot of reliance on the accuracy of the percentages. I've often used that 50/25/25 set for teaching purposes.

This could be folded into calculations for an indicator using OLang. I've actually done some fiddling with this in the past but can't recall exactly what I did.

OLang permits you to find the price of the Sector, Group or SubGroup of a symbol by using GetClose("$Group") ... see the sample code snippet below, which I used to create three FL columns showing the respective prices of the Symbol's Close, and the close of its Sector, Group and Subgroup. The charts show that the numbers are valid.

You can use this syntax to get OHLC info from the Sector or Group or SubGroup of a symbol, save it in a variable, and then pass that variable to any indicator or custom calc you might want. Then you can weight the results of those calc's using the 50.25.25 or whatever.

It's all very do-able in OLang!



[Edited by Jim Dean on 4/11/2012 3:12 PM]

Attached file : SecIndGrp.png (88KB - 468 downloads)

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John J

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Subject : RE: Group/Sector Question
Posted : 4/12/2012 12:09 PM
Post #20712 - In reply to #20708

Thanks again Jim for sharing your vast knowledge of OT...!

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