Perhaps a very dumb question but I can’t work it out by myself. Can someone please navigate me where I can find info about what is Rank for any particular stock in our app? Some of Ranks are positive and some are negative, and I have no idea what it all suppose to mean. I will be very grateful and thank you in advance!
No dumb questions in this forum… The Rank value is simply the Rate of Change indicator applied over a 126 day period for that particular stock. It’s effectively showing that you the strength (or lack) of the momentum of the stocks price action over that period of time.
You can easily recreate this in Beyond Charts by picking a stock chart (say RHC on the ASX for example) and apply the Rate of Change indicator to it (ensure the value of the RoC Indicator is set to 126). You can then see on the graph that the most current value is -2.322 (which matches the App value shown today).
The App very handily updates each stock each day and shows you the current ‘rank’. In particular (depending on your Trading Plan specifics) this is useful when needing to pick from multiple options when a new Buy signal occurs i.e. if you only have a single open position available, but have 3 options to choose from, you could select the option with the highest Rank (being the one with the strongest momentum or ‘strength’ across that 126 day period)…
Hope that helps
Thank you very much for your response! I will research more to get a full picture!