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
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
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
Advanced Users Options
Parity Plus is a program designed to satisfy your analysis
needs regardless if you are a beginner or advanced or
somewhere in between. A wide range of mathematical and
statistical functions offers you one of the most powerful
tools to analyze stocks, options and other securities.
You can define your own indicators, create new indicators
and tailor predefined indicators.
Simply all indicators and functions in Parity Plus
2.1 can be combined in user defined formulas, to offer
you the flexibility you need.
As an advanced user you may want to analyze your strategy
in more detail you can incorporate the results of your
profit tests in a study using the ChartProfitTest()
Parity is compatible with 5 or 7
field MetaStock/CompuTrac data files, ChartPro/MegaTech
data files, Comma Separated ASCII
files, and TeleChart 2000
data files. Daily, weekly and monthly data in these
formats are widely available from various on-line and
data disk services.
Parity also permits you to import price data from MS
Excel, Lotus 123 WKS files,
Comma Separated Value text files
and Tab Separated Value text files.
Parity Plus includes a complete
set of utilities for file and data maintenance and data