"Rebase" function in Tradestation

[dupaski]

I came across the following chart on a blog (it was Teresa Lo's site). I've been trying to do this in Investor RT for a few weeks now and can only get it to a ratio chart with my primary frame of reference as a line chart.

I really like how it appears that Tradestation can reference the benchmark as a zero line, but I can't seem to fins anyplace else that references the "rebase" on the chart. Is that merely what the author has named the function, and if so what is the function I would be able to research in Tradestation to learn more about this.

Also, if anyone knows IRT and can point out how I would be able to accomplish this on that platform I would also be grateful.

Thanks
-Derek

[thrunner]

	Quote:	dupaski
	what is the function I would be able to research in Tradestation to learn more about this

Don't know anything about IRT but Rebase is not a built in function or indicator in TS. If your read T Lo, :

	Quote:
	The thesis is simple. Identify sectors that begin to outperform the benchmark, get on board and rotate out when the greatest fool is securely on board. Identify sectors that have been totally beaten down and buy after all the weak longs have puked. Start with a rebased chart. In this example, the S&P 500 Index is our benchmark. We plot the nine Sector SPDRs (utilities are missing for now, because my code is out at Sean’s to fix) and look at the performance since the beginning of this year.

TS allows you to insert multiple symbols as datastreams into subgraphs in a chart (as data1, data2 ....) and you can calculate a new stream output for each data in the bottom subgraph using a baseline number from eg 1/1/07 in this case. It looks like that is what Rebase is: a simple indicator calculating a ratio starting in the new year of each data to the first trading day of the year, for each sector listed.

If you are using IRT, you just have to find out if IRT supports inserting multiple symbols into a chart and calculate the data and output that into a subgraph or a new chart.

There is no reason to do this all in one chart, it just makes it easier to see the whole picture in comparing the nine sectors listed.

[dupaski]

Thank you for the response.

So the chart attached above is showing how each sector did in relation to the price of the S&P on 1/1/07?

The article seemed to indicate that crossing the 0 line showed outperformance of the S&P and I just assumed it was year to date, (i.e. a change in a sectors price was in relation to the change in the S&P day over day). In that scenario, if the index rose 1% and one of the SPDRs rose 1% over the same period it would register as a 0%.

IRT will allow for the plotting of multiple instruments on the same scale as a percentage change so I may be able to do this with that combo. It almost seems that this would be easier to do in excel.


-Derek

[thrunner]

	Quote:	dupaski
	IRT will allow for the plotting of multiple instruments on the same scale as a percentage change so I may be able to do this with that combo

Good luck with your efforts in IRT. Here is an example of TS code that will do this:

//A look at sector rotation, plot the nine Sector SPDRs vs base line, start at 1st of the year, changeable. INPUTS: MyDate(1070103), DataNum(9); // match this with number of Datastreams; also chart limit array set at 24 Var: Num (0); Array: CloseData[24] (0); For Num = 1 to DataNum begin If date = MyDate then CloseData[num] = Close of data(num); // assign the start date close value end; If date >= MyDate then begin plot1 (Close of Data(1)/ CloseData[1] - 1, "Clo1" , Blue ); plot2 (Close of Data(2)/ CloseData[2] - 1, "Clo2" , Cyan ); plot3 (Close of Data(3)/ CloseData[3] - 1, "Clo3" , Red ); plot4 (Close of Data(4)/ CloseData[4] - 1, "Clo4" , Green ); plot5 (Close of Data(5)/ CloseData[5] - 1, "Clo6" , DarkBlue); plot6 (Close of Data(6)/ CloseData[6] - 1, "Clo6" , Magenta ); plot7 (Close of Data(7)/ CloseData[7] - 1, "Clo7" , DarkGray); plot8 (Close of Data(8)/ CloseData[8] - 1, "Clo8" , DarkRed ); plot9 (Close of Data(9)/ CloseData[9] - 1, "Clo9" , DarkBrown); end;

Sample output, top 6 symbols cut off and not shown.

[dupaski]

Thank you for your help, it was appreciated.