New Members: Be sure to confirm your email address by clicking on the link that was sent to your email inbox. You will not be able to post messages until you click that link.
Can the SCTR be adjusted to use a 60 or 90 day time frame?
The relative strength is too long. I want a shorter rank.
You can create this ranking system in a scan and use it as a rank by statement. The only thing it wouldn't do for you is create the decile ranking that the SCTR does. So let's say your scan returns 500 names. The top 10%, or 50, of your scan returns would be the 90-99 group. The next 50 would be the 80-89 group, etc.
rank by [[PPO(1,200,1) * 0.30] + [ROC(125) * 0.30] + [PPO(1,50,1) * 0.15] + [ROC(20) * 0.15] + .....]
It takes two steps to calculate the StockCharts Technical Rank (SCTR). First, each stock is “scored” based on six different technical indicators. These six indicators can be subdivided into three groups: long-term, medium-term and short-term. The box below details these indicators, the relevant timeframe and the weightings.
Long-Term Indicators (weighting)
* Percent above/below 200-day EMA (30%)
* 125-Day Rate-of-Change (30%)
Medium-Term Indicators (weighting)
* Percent above/below 50-day EMA (15%)
* 20-day Rate-of-Change (15%)
Short-Term Indicators (weighting)
* 3-day slope of PPO(12,26,9) Histogram/3 (5%)
* 14-day RSI (5%)
John Murphy has only mentioned SCTR in blog postings a handful of time in the past 5 years.
Something else you might find of interest in the StockCharts scan engine is the PctRelative function. You can use this against anything to get a relative return over any period of time.
It defaults to $SPX but you can put any symbol in there and any time frame. You can also put $Industry or $Sector in and the system will compare the symbols returned in the scan to the relevant industry or sector that the symbol has assigned to it.
and [PctRelative(20,$spx) > 0]
and [PctRelative(10,$Sector) > 10]
and [PctRelative(5,$Industry) > 5]
and [PctRelative(200,ARKK) > 200]
The 1st number is the period. The last number is a %. The first line says show me symbols that have gone up more than the $spx in the last 20 periods
The Second line says show me symbols that have gone up 10% more than their sector in the last 10 periods.
If using them in a Rank by statement, remove the qualifier.
rank by [PctRelative(20,$spx)] is all you need in the rank by statement.
If you put PPO Line, instead of PPO in the code above, and remove the individual brackets, it returns results in the rank by. I was just typing an option to use and didn't enter it correctly nor check it in the scan workbench. I instead used the brackets to show the separate calculation steps.
rank by [PPO Line(1,200,1) * 0.30 + ROC(125) * 0.30 + PPO Line(1,50,1) * 0.25 + ROC(20) * 0.15]
returns results. Now, are they correctly calculated? I'm not checking that but it does return values.
The above snippet isn't the entire SCTR calculation.
For example, if you want ..
A * 3 + B * 2 + C * 1
You will get ...
A * 3 * 2 * 1 + B * 2 * 1 + C * 1
[group is DOW30]
rank by SCTR
[group is DOW30]
rank by [ whatever the correct "long hand" SCTR calculation is ]