BullCharts : Working with sector indices http://www.bullcharts.com.au/forum/ This is an XML content feed of; BullCharts : Tips and Tricks : Working with sector indices Copyright (c) 2006-2009 Web Wiz Forums - All Rights Reserved. Wed, 15 Apr 2026 11:02:05 +0000 Fri, 27 May 2005 22:18:27 +0000 http://blogs.law.harvard.edu/tech/rss Web Wiz Forums 9.69 360 www.bullcharts.com.au/forum/RSS_post_feed.asp?TID=217 BullCharts http://www.bullcharts.com.au/forum/http://www.bullcharts.com.au/images/bull_logo.gif http://www.bullcharts.com.au/forum/ Working with sector indices : Thanks Peter This works well... http://www.bullcharts.com.au/forum/forum_posts.asp?TID=217&PID=805#805 Author: pipsqueek
Subject: 217
Posted: 27 May 2005 at 10:18pm

Thanks Peter

This works well and will be very useful

]]> Fri, 27 May 2005 22:18:27 +0000 http://www.bullcharts.com.au/forum/forum_posts.asp?TID=217&PID=805#805 Working with sector indices : The relative strength comparison... http://www.bullcharts.com.au/forum/forum_posts.asp?TID=217&PID=802#802 Author: Peter
Subject: 217
Posted: 27 May 2005 at 2:51pm

The relative strength comparison indicator is a useful tool fordetermining how well one security is performing when compared to themarket, or to another security.

A common request is to want to use the RSC to compare a company to theindex of its own sector. Normally this would require you to manuallyenter the sector index code into RSC for each security.

By using the Security.SectorIndex variable, we can modify the RSC indicator script to automatically select the correct index. Follow these steps:
  1. Open the indicator window and select the builder tab
  2. Locate the "Relative Strength Comparison" indicator and select copy.
  3. Find the line: symb := inputsymbol("Compare to", "XAO"); and change it to symb := Security.SectorIndex;
  4. Save the indicator and add it to your chart
This new indicator will automatically display the RSC comparing the company to the index of that companies sector. The Security.SectorIndex returns the ASX code of the relevant index.

By using similar techniques, you could also make it just display theindex (instead of the RSC). You can also use this new indicator in ascan to find companies that are out performing their sector.

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