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When ERSA finishes its calculations, the data is stored in
ASCII files below your data folders. The installation program automatically
adds ERSA custom formulas and explorations to MetaStock. You can also create
your own MetaStock tools using the ERSA data.
To plot the ERSA values in a MetaStock chart:
- Run the calculations.
- Open a MetaStock chart.
- Plot the ERSA formula in the chart. If you don't get what you expect,
see troubleshooting.
ERSA Explorations - Before running the ERSA
Explorations, you must set the MetaStock Exploration options to load enough
data. Go to Tools|Explorer and click on the Options button. In the Data
Loading field, specify at least 250 periods.
ERSA Report - This exploration shows the 250-day
(if that's what you calculated) ERS values for the most recent day, for 5
days ago (approximately one week), for 21 days ago (appx. one month), for
60 days ago (appx. one quarter), for 125 days ago (appx. six months), and
for 250 days ago (appx. one year). Use this report to see which stocks are
gaining strength and which are losing strength. The report can be sorted by
any column simply by clicking on the column heading.
ERSA XX-XX six month performance - Ten explorations
that calculate the six month price performance of each decile of stocks. For
example, the "DeBry.com ERSA 70-79 six month performance" will tell you how
stocks that had ERS values of 70-79 six months ago have performed in the
ensuing six months. The following table shows the columns in the report.
| Close |
Performance |
ERS Then |
ERS Now |
| The latest closing price |
The performance in the last six months |
The external relative strength value six months ago |
The external relative strength value now |
To get the average return, copy the report from the Explorer,
paste it into Excel, sum up the Performance column, then divide by the number of
stocks, to get the average performance.
ERSA movers - 20 point gainers - Finds stocks that have
gained 20 or more relative strength points (e.g., from 50 to 70 or more), in the
last 21 days.
ERSA movers - 20 point losers - Finds stocks that have lost 20
or more relative strength points (e.g., from 50 to 30 or less), in the last 21
days.
Creating your own tools using ERSA data - The ERSA
values can be used by any MetaStock formula tool, including the Indicator Builder,
the Explorer, the System Tester, and the Expert Advisor. To access the ERSA
values, simply add the following text where you want it:
ExtFml( "ERSA.ExternalRelativeStrength")
Troubleshooting
Q. After running ERSA, I still don't get values for some of my stocks.
A. It's likely that your Load Periods in ERSA is greater than the number of
periods available in those charts. Reduce the number of periods to load in ERSA
and re-run the calculations, and you should get data for those stocks.
Q. The Explorer columns say "N/A"
A. Change your Explorer options to load 250 time periods (press the Options button on the Explorer dialog).
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