May 30, 2018 at 1:52 am #46971
For Optuma clients with the full RRG module who are interested in scanning or testing RRG scenarios see this blog post with examples using the derived indicators (eg Heading, Distance, Velocity, etc):August 3, 2018 at 6:24 am #47791
The distance between each data point on an RRG tail is measured by the velocity – JDKRS(DEFAULT=Velocity) – so to calculate the tail length you can add them together. The longer the tail the more momentum in the relative trend.
For a 5 period tail you would use the following, with the  being the offset for the previous data point,  two days ago, etc.1234567JDKRS(DEFAULT=Velocity) +JDKRS(DEFAULT=Velocity) +JDKRS(DEFAULT=Velocity) +JDKRS(DEFAULT=Velocity) +JDKRS(DEFAULT=Velocity)
In this example, the Dow 30 have been ranked by tail length, with the longest 3 (INTC, CVX & JPM) plotted on the RRG with the shortest 3 (HD, WMT & IBM with lowest momentum).
March 5, 2019 at 1:19 am #51427
- This reply was modified 1 year, 11 months ago by Darren.
To colour code the quadrants in a watchlist column the following (using the default benchmark) will convert the column in to a value, as follows:
0 = Leading
1 = Weakening
2 = Lagging
3 = Improving
Then label and colour the column using the following Custom Labels:July 23, 2019 at 10:09 pm #54121
Attached is a workbook for US industry ETF watchlist with RRG quadrant info in a column and 4 coloured Show View scripts dragged over each other.
You must be logged in to access attached files.August 21, 2019 at 10:02 pm #54379
A sure sign of strength is when a stock moves from Weakening back to Leading without rotating to Lagging – basically it rotates on the right side of the RRG chart without the RS Ratio crossing below 100.
We can scan (and test) for when that happens using the following formula:123456//When RS Ratio > 100 ie on right side of RRG for at least 2 datapointsJDKRS().Ratio > 100 and JDKRS().Ratio > 100 and//and RS Momentum crosses above 100 ie moves from Weakening to LeadingJDKRS().Momentum CrossesAbove 100
Scan results:August 22, 2019 at 2:09 pm #54387Jonathan
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I love this concept. Thanks!
Does this mean I do not have RRG on my account? That is there is no colour coding of bars.August 22, 2019 at 5:38 pm #54389
Correct – you need the full RRG module enabled on your account to be able to script and colour the bars. Contact support for more details.
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