Does the RRG Indicator take any parameter besides $SPX such as $INDUSTRY or $SECTOR?

dreamtalk

I tried to use $INDUSTRY or $SECTOR as a parameter but it doesn't seem to work. It seems to work with $INDU, $RUT or XLB for example but it would be really convenient if it worked with $INDUSTRY and $SECTOR too. I need help please.
Thanks

Kevo

In the Free Charts section, I get the same results too. I entered $SECTOR and/or $INDUSTRY in the "Symbols" input box and/or "Benchmark" input box. $SECTOR and $INDUSTRY are not recognized at all by SCC RRG Charts.

If you think about this, the reason why should become apparent apart from not being programmed in: In the Free Charts section, the first input box is "Symbols" which means you can input more that one ticker symbol, which means tickers from multiple different sectors and/or industry groups can be entered, same goes for calling RRG Charts from the Members Section via ChartLists.

The variables $SECTOR and $INDUSTRY apply to only one ticker symbol. Therefore, using $SECTOR and $INDUSTRY in the RRG Charts is a no go. Thus, you may want to find a different way to utilize the $SECTOR and $INDUSTRY variables.

Here is my perspective on this: According to Mr. de Kempenaer (or someone else), RRG Charts do not provide trading signals (Can you find the link that mentions this?). With this in mind, I would consider RRG Charts to be secondary, or maybe use it for confirmation of your analysis. It is meant to be a tool not necessarily an indicator.

The intent behind the development of the $SECTOR and $INDUSTRY variables is to make the Price Relative mechanism easier to use. The best way to take advantage of this feature is to create ChartStyles that incorporate the $SECTOR and $INDUSTRY variables. Add a couple of indicators like MACD for Momentum, and CCI for OB/OS, and then add a Moving Average. You now have a important new dimension for investing/trading signals.

Hope this helps.

P.S. RRG is a chart or tool.

Julius_RRG

Kevo pretty much nailed it on the head! The $INDUSTRY or $SECTOR symbols are variable symbols that can be connected to a symbol in a sharpchart to pull a relevant comparison symbol from the database. For reasons described by Kevo that is not possible on a RRG chart as the system does not "know" which f the ticker symbols on the RRG to use (more are possible and they can come from various sects or industry groups).

As Kevo states RRG charts can be used to "confirm" other analysis, although that is certainly true I would promote the use of RRGs as a possible starting point for further analysis as they enable you to very quickly get a handle on what is going on in a specific universe.

If that universe happens to be an existing portfolio RRG charts can help you to monitor existing positions and pin-point to the positions which may deserve some extra attention as they are starting to weaken from a relative perspective.

If the universe is a more general (stock) universe that you may be using, RRG charts can help to find ppotential trade ideas.