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Advanced Functions

One of the most innovative aspects of Parity is its unique use of Groups of Stocks , Batches of Studies , and Clusters of Charts in order to simplify the analysis of a large number of securities at one time.

Group of Stocks : A powerful feature of the program is its ability to define a Group of securities that can be displayed in any sequence using the Display Tools. You can define an unlimited number of Groups.

A Group is a list of security price data files, in any supported format, located in any directory, on any disk. You might prefer to think of a Group as a portfolio of stocks or a list of ticker symbols. Group definitions can be edited, reordered and deleted at any time. All defined Groups can be saved to disk for reuse in subsequent sessions.

Parity permits you to mix data files in different directories, in different formats, and of different sizes within a single Group.

When you create your own "Composite Index", you also can embed a Composite/Group within another Group.

Batches of Studies : With Parity Plus you may create your studies. A study defines how you want Parity Plus to chart an individual security, regardless of which security is chosen. As example you can define

  • How the price data is displayed, bar chart, line chart, candle sticks
  • Where and whether volume is displayed
  • What indicators and formulas are plotted on the chart and where
  • How individual panes are stacked and overlapped and what their relative sizes are.
  • And much more

Thereafter a batch defines a list of studies that will be displayed.

Create your own Portfolio and Composite Index

In addition to charting individual stocks, Parity Plus lets you define a Composite Security composed of any number and type of data files or charting, scanning, and profit testing. Composites are similar to an index or portfolio of securities. Since Parity permits you to assign positive and negative weights to each security in a composite you can create and chart complex spread and straddle strategies. Parity can even create a "Composite" from all the securities in a Group.

Parity includes nine different methods for calculating the composite ranging from simple sums and averages to complex geometric and harmonic means .

Scanning and Filtering Every investor faces the challenge of staying on top of hundreds of pieces of new information each day and still having time to find and focus on the best securities for right now. Parity Plus' filtering and scanning tools let you rapidly shift through dozens or even hundreds of stocks to find the ones that meet the criteria you have defined.

You define a filter or a scan just like you would a profit test. First you specify the formulas and technical indicators you are interested in. Then you determine what, if any conditions, the securities in the group have to meet to be included in your results. You can name and save an unlimited number of scans and run them against any group you have defined.

When you run a scan on a group Parity Plus generates a report which shows the ending values for all the indicators and formulas you specified and sorted in the order you choose. If you specified a set of conditions the securities had to meet in order to be included in the scan then only those securities that met your criteria will be shown. You can print the results of a scan or save them to a file for further analysis.

After you have run a scan you can create a new group which only includes the securities that met your filter or screen. Then you can chart this new group with any study, batch or cluster you have defined to closely examine each of these securities as a possible investment.

By using Parity Plus's scanning and filtering tools it is possible to quickly and efficiently analyze hundreds of securities each day and only spend time on the few that meet your investment standards .

Test your strategy with Parity's Profit Test Parity Plus includes sophisticated profit testing features which permit you to define a technical trading strategy and test the results of that strategy against your historical data. Parity Plus permits you to run the tests you design on a single security or on all the securities in a group . You can examine the results of your trading strategy at several different levels of detail including tables which show all the trades for a security, a summary of trades for the security, or a summary for all the securities in a group.

Parity's ability to create a chart showing stock price, position status, cumulative profits, and profits per position at the click of the button for each security you test is another powerful feature.

Perhaps the most common problem technicians encounter is what value to use for their favorite technical indicators. For example, are 40 day moving averages more predictive than 50 day moving averages or is the best values some place in between? To help answer these questions, Parity Plus includes a powerful Optimizer tool which lets you specify a range, and step value, for up to five variables you might want to test. Using the Optimizer you might set the value of the OptVar1 variable to range from 30 to 50 in steps of 2 units. When you run an optimized profit test, Parity substitutes the appropriate value for the variable for each run through a group. When testing is completed Parity Plus shows you a table with the results of each iteration through the range you are optimizing for and lets you sort the results for total return. Using this approach you can quickly and automatically determine the optimum values to use in your indicators.

Parity Plus lets you name and save an unlimited number of profit tests in exactly the same way you use Groups, Studies, or Batches. You can select a new profit test at any time and run that profit test against the current group, or the current security.

 

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