Scripts for Relative Rotation Graphs (RRGs)

Optuma Forums Optuma Scripting Scripts for Relative Rotation Graphs (RRGs)

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  • #46971
    DarrenDarren
    • Topics: 43
    • Replies: 304
    • Posts: 347

    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):

    Scripting Guide for Relative Rotation Graphs®

    #47791
    DarrenDarren
    • Topics: 43
    • Replies: 304
    • Posts: 347

    RRG Tail Length

    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 [1] being the offset for the previous data point, [2] two days ago, etc.

    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).
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    #51427
    DarrenDarren
    • Topics: 43
    • Replies: 304
    • Posts: 347

    Colour Code the RRG Quadrants in a Watchlist

    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

    JDKRS().Quadrant +0

    Then label and colour the column using the following Custom Labels:

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    #54121
    DarrenDarren
    • Topics: 43
    • Replies: 304
    • Posts: 347

    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.

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    Attachments:
    #54379
    DarrenDarren
    • Topics: 43
    • Replies: 304
    • Posts: 347

    RRG Weakening to Leading

    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:

    Scan results:

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    #54387
    AvatarJonathan
    • Topics: 31
    • Replies: 49
    • Posts: 80

    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.

    XLV

    #54389
    DarrenDarren
    • Topics: 43
    • Replies: 304
    • Posts: 347

    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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