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5 & 30 day price Trend vs market
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5 & 30 day price Trend vs market

  #1 (permalink)
Trading Apprentice
Sottsdale AZ
 
Futures Experience: Beginner
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5 & 30 day price Trend vs market

Hi fellow traders,

I was wondering if any of you guys/gals knew how to get a 5 & 30 day price trend vs market? I would like to have the ability to create an industry watch list with each of these studies to help determine performance relative to S&P. I believe the formula is:

100*((latest close of stock/latest close of S&P) / (XX period day close of stock/ XX period day close of S&P))

Thanks in advance!

Cheers,

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  #2 (permalink)
Elite Member
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Not sure what...

you are trying to do. But, I'd have a couple suggestions.

Utilize % change last 5 days individual equity versus % change last 5 days ES. This way you have the ability to plot or call a universal number. The 8 dollar stock and the 80 dollar stock will have an equal measure against the ES. This would be more sophisticated if it measured each equity in index points, but Im not sure that is necessary or beneficial.

Make the period a variable so it can be changed in the settings of the indicator. Are you trying to evaluate the 5 period versus the 30 period or do you want to see the 5 period and see the 30 period independent of each other.

This is not a difficult calculation and would be a snap for many of the qualified code guys at futures.io (formerly BMT).

You might get some interesting input if you describe what you are trying to do.

DB

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  #3 (permalink)
Elite Member
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wldman's Avatar
 
Posts: 2,084 since Aug 2011
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Thinking...


Why not use a 5/30 period MACD of % net change? Then you could plot that value as a sortable field in a stock table. If I think of it when I'm logged in tomorrow I'll post what I mean.

On a daily time frame the 5 day would be one week and the 21 day would be a trading month.

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  #4 (permalink)
Trading Apprentice
Sottsdale AZ
 
Futures Experience: Beginner
Platform: Thinkorswim
Favorite Futures: Stocks
 
Posts: 2 since May 2014
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Thanks for the reply Wldman.

Yes your absolutely right, the use of percentage change would be more applicable. Ill have to think about this some more...

In the past I have seen a 5 and 30 day price trend vs market indicator but I'm not sure how it was calculated or where I saw it. I recall the trader using it as indicator to show where money was rotating. It appeared to be a great tool for comparing how the price trend of an ETF (lets say XLE) compared to the market for the 5 and 30 day period. So if the 30 day indicator was around 0.00 and the 5 day indicator was .50 that would show 30 days ago the price trend of the XLE was similar to the market but recently money has been flowing into XLE due to the positive value. A negative value would show the opposite.

Ive looked through TOS and can't seem to find anything resembling this other than PVT but its not relative to the market.

I'm open to other suggestions or alternatives.

Appreciate your feedback,

Cheers

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