Joe,
Actually, to be quite specific…
A major advantage of TC2005 is its Sectors
and Industries. Worden maintains both the Sector/Industry groupings and
symbols for each Sector and Industry. I believe this to be one of their
strongest benefits.
After I imported the TC Industries and
Sectors, I set up each Industry with the TC symbol for that industry (Symbols à Categories à Industries).
Since each Stock symbol is mapped to an industry, the Industry symbol can
be used for relative strength analysis in Charts and Scans. The AFL for
Relative Strength to Industry is:
RelStrengthSymbolToIndustry = RelStrength(GetBaseIndex());
Regarding Sectors, I chart all of the TC
Sectors in 6 panes on two charts as a set of lines. It makes it easier to
analyze them.
Like Patrick, I’d like to see Worden
publish only the data, expose more of their attributes in their API (currently
only Money Stream and BOP), and provide full access to intraday data in their
API.
Unfortunately, Worden tends to be a bit “idiosyncratic”.
Instead of focusing on their strengths, they spent massive amounts of time and
energy with a stand-alone tool call Worden Studio which doesn’t integrate
with TC and is very poor compared to competitive products (like StockCharts).
When I took them to task on the issue, they condescendingly pointed out that I
just didn’t know how to use the tool. (Not once, but several
times.) So, I wrote them off as non-communicative and not a serious
vendor of charting tools.
In some respects, a similar company is
IBD. AFAIK, IBD is the only other company that has strong Sector
and Industry groupings with some charting and scanning at the Industry and Stock
level. And, their analysis is pretty good. That’s
the good news…
The bad news is that IBD is a serious hassle
to deal with. They are very expensive, their charting tools and scanning are
very poor and they do not expose their data through an API. The
only way to export some of the data is using a manual export process.
They’re still working in the dark ages of stock analysis – lots of
marketing with modest content, packaged in a proprietary interface.
Hopefully, Worden and IBD will get their
act together and start meeting customers’ needs instead of using a “marketing
by navel gazing” strategy. Like many companies, they
have some good product features to offer, but leave lots money on the table
because of their inability to package and market them effectively.
Regards,
Dan.
From: amibroker@xxxxxxxxxxxxxxx [mailto:amibroker@xxxxxxxxxxxxxxx] On Behalf Of Joe Landry
Sent: Tuesday, June 21, 2005 5:41
AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: Re: [amibroker] TC2005
& Amibroker
Patrick and Dan - I stand corrected and
appreciate the very thorough analysis and discourse on your
parrt - an excellent use of the
forum.
Correctly I should have said -TC2000
for simple and quick scans, reliable data feed but weak mutual fund
data and market breadth.
QP3 has both and a great depth of
what I'm calling market internals or breadth data for all US markets.,
advance/declines, high/lows, up /down volumes.
For other indices like R2000, I
have to develop and run daily as composites.
However I should ask, how do you get
a comparable organization of industry groups in AB if you
don't have TC2000 as your data feed?
On the plus side for AB don't forget the
backtesting and optimization with native AB optimization
or with the optimizer called IO by
Fred Tonetti.
----- Original Message -----
Sent: Monday, June 20,
2005 10:49 PM
Subject: Re: [amibroker]
TC2005 & Amibroker
Hi all,
I have to agree with Dan -- TC2005 is ok for data,
and perhaps some very
simple fast sorts.
I use ATR as an indicator of preference for sorting
-- in AB it's built in
and I can build complex varieties of AA output
based on it. In TC2005, it's
about 32+ operations of code to produce an
ATR(10). Then there's ADX (not
available for scans, just sorting on their static
indicator), and CCI,
forget it, etc. I too do some stuff like Dan
discribes, but only in AB as
TC2005 won't support it. If any further plug
for AB is needed, I'll note
that one can automate the output from the
exploration or scan to a watchlist
as part of the code.
So for research, sophisticated scans and ease of
use (once you learnit), AB
is a no brainer. Too bad one can't just buy
TC2005 data at a discount
without the charts, etc., as it generally is good
data (a few minor
exceptions of course). Still it's not that
expensive -- my commissions are
an order of magnitude greater each month,
sometimes two.
Peace and Justice ---
Patrick
(Dan - we'll see how this post does for time, I
saw your last was only about
8 min delayed)
----- Original Message -----
From: Dan Clark
To: amibroker@xxxxxxxxxxxxxxx
Sent: Monday, June 20, 2005 8:02 PM
Subject: RE: [amibroker] TC2005 & Amibroker
I have to disagree a bit with Joe.
I agree if all you want to do is perform BASIC
scans and filters. Very
basic!
But the problem with TC is that you quickly run
into a wall.
For example, using Linear Regression lines, I
perform a scan where:
1) the stock is in a list of tradable symbol and
2) the long term trend of a symbol is up, and
3) the short term trend is down, and
4) the short term trend of Twiggs Money Flow is up
(divergence), and
5) the symbol is NOT in a list of manually
excluded symbols, and
6) the symbol is NOT already in a target short
list
7) the symbol is NOT already in a target long
list.
I tried this in TC.
Number 1 is easy.
Numbers 2, 3 and 4 (using Money Stream instead)
are a 19 step manual
process!!!
Numbers 5, 6 and 7 are NOT possible!!!
TC has its benefits. But sophisticated
scanning is NOT one of them.
As you probably already figured out, I use TC for
data only.
Regards,
Dan.
From: amibroker@xxxxxxxxxxxxxxx
[mailto:amibroker@xxxxxxxxxxxxxxx]
On Behalf
Of Joe Landry
Sent: Monday, June 20, 2005 4:59 PM
To: amibroker@xxxxxxxxxxxxxxx
Subject: Re: [amibroker] TC2005 & Amibroker
If all you want to do is scans/filters then
TC2005 will be all you need.
However if you ever want to backtest or use a
custom indicator that the
Worden brothers didn't include in their
package then you're out of luck.
When I subscribed to TC2000 it was for the data, preliminary
scans, and
industry groups. Now I'm using
QP3, quotes plus 3 for mutual funds and stocks for
less than TC2000, but I
don't get intraday delayed quotes
on stocks. I do get realtime data from my
broker but I can't run the signal
routines that will tell me if a signal will
trip before the close.
Best regards
JOE
----- Original Message -----
From: skilletlicqor
To: amibroker@xxxxxxxxxxxxxxx
Sent: Monday, June 20, 2005 6:42 PM
Subject: [amibroker] TC2005 & Amibroker
I notice there are a number of users of both
TC2005 and Amibroker. I
currently use TC2005 and am on the trial month for
Amibroker. I'm
very impressed with Amibroker and wonder what
those of you who use
both do in TC2005 that you can't do in
Amibroker. Or is TC2005 just
for the data? I haven't worked with AFL much but I
assume that it is
capable of performing any scans that I can do with
TC2005. Is this
not the case?
I'm on a tight budget and can probably only afford
one of these
programs right now.
Thanks for replies.
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