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
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 security.
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
Simply all indicators and functions in Parity Plus 2.1 can
be combined in user defined formulas, to offer you the flexibility
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.
Parity is compatible with 5 or 7 field
MetaStock/CompuTrac data files, ChartPro/MegaTech data
files and Comma Separated ASCII 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.