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Investor Preference Index

Formula for: MetaStock

Views: 1321

Added: June 28, 2007

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This indicator was discussed in the December 1997 Technical Analysis of Stocks & Commodities magazine, page 19. The article was writtenby Cyril V. Smith Jr. "This indicator, a long - term stock market investment tool, compares the performance of the S&P 500 to the New York Stock Exchange index to measure sentiment.
The theory is that investors have a preference for certain types of investments, blue chips versus mid-cap, during phases of a bull market."
To plot this in MetaStock for Windows, follow these instructions.
When complete, if you save this as a chart, you will simply need to load the chart and it will recalculate using the newest data.

Open a chart of the S&P 500.

Open a chart of the New York Stock Exchange index.

Drag the S&P 500 price plot into the NYSE chart.

Drop the indicator listed below on the plot of the S&P 500. The plot will turn a different color when you are pointing at it.

The resultant plot is the Investor Preference Index.

Formula:

Investor Preference Index

(Sum(
Mov(ROC(Log(C),24,%) - ROC(Log(P),24,%),15,S) -
Mov(ROC(Log(C),24,%) - ROC(Log(P),24,%),38,S),54)+1)*100

Code:

Investor Preference Index

(Sum(
Mov(ROC(Log(C),24,%) -
ROC(Log(Security("_SPC",C )),24,%),15,S) -
Mov(ROC(Log(C),24,%) -
ROC(Log(Security("_SPC",C )),24,%),38,S),54)+1)*100

Author: Cyril V. Smith Jr.
Source: http://www.equis.com

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Investor Preference Index

Formula for: MetaStock

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Views: 1321

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