DATA FORMAT
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 conversion.
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() chart procedure.
Technical Indicators and Advanced functions
One of the most crucial functions in any technical analysis software is the accuracy and reliability of the technical indicators. Parity Plus’ sophisticated charting capabilities include over 50 of the most popular predefined indicators plus a wide range of math and statistical functions. With the possibility to add up to NINE indicators in a single chart and combine each indicator with one or more indicators you can tailor Parity Plus to your skills.
Parity Plus provides you with the tools to time your entry and exit points and create reliable and accurate buy and sell signals.
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. |