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Hello Frank,
the ROC is not smoothed in the orignal OddBall. It is simply the
percent change from one close (of Advancing Issues) to another 7 bars
later.
go to Functions and open the RateofChange function to review the
calculations. here it is:
{*******************************************************************
Description: Rate of Change
Provided By: Omega Research, Inc. (c) Copyright 1999
********************************************************************}
Inputs: Price(NumericSeries), Length(NumericSimple);
If Price[Length] <> 0 Then
RateOfChange = (Price / Price[Length] - 1) * 100
Else
RateOfChange = 0 ;
Best regards,
Jim Johnson mailto:jejohn@xxxxxxxxxxx
--
Wednesday, June 5, 2002, 1:58:01 PM, you wrote:
FR> Alex:
FR> Thanks for your comments.
FR> But as I understand, the original OddBall code "smoothes" the ROC by taking the average of the last 7 bars ? (RL=7)
FR> If so, there should be more gradual increases or decreases in the value when right clicking over each bar.
FR> Seems my coding attempt does not produce this feat.
FR> Frank
FR> On Wed, 5 Jun 2002 10:09:47 -0700 (PDT)
FR> alex@xxxxxxxxxxxxxx (Alex Matulich) wrote:
>> Frank wrote:
>>
>> >I'm having a bit of trouble trying to create just a simple
>> >indicator so that I can left click on any bar and it will show me
>> >in that little TS2000i square window the "percentage" of Advancing
>> >issues such as >3% or better which should show a signal shuld have
>> [snip]
>> >Somehow I it appears I need to get the "percentage math" into it:
>>
>> Hint: look at the source code for RateOfChange. It's already a
>> percentage, scaled so that 1 whole unit is 1%.
>>
>> >Inputs: RL(7), BZ(3), SZ(1);
>> >
>> >Plot1(RateOfChange(Close Data2, RL));
>> >Plot2(0,"Zero");
>>
>> The RateOfChange output on advancing issues will be strange values
>> like -56 or +98. If the previous value of Advancing Issues was low
>> (say 2), and the next value is higher (say 40), the ROC will be
>> huge.
>>
>> If you want percentage that are advancing issues, you can get that
>> only by dividing advancing issues by total issues.
>>
>> --
>> ,|___ Alex Matulich -- alex@xxxxxxxxxxxxxx
>> // +__> Director of Research and Development
>> // \
>> // __) Unicorn Research Corporation -- http://unicorn.us.com
>>
>>
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