***************************************************** TANLY32 - TechAnly 32 Bit FIS LTD Evaluation Version 7.0 Release Date - Apr 1997 ***************************************************** FIS Ltd. provides a limited license for you to evaluate this product for a period of 30 days in your own work environment. This "try before you buy" approach allows you to determine if the product meets your individual needs before you purchase it.If you continue to use this product after the 30 day evaluation period, you are required to purchase a licensed version. PLEASE READ THIS ENTIRE FILE AND DISCLAIM.TXT BEFORE INSTALLING AND USING TANLY32.XLL. ______________________________________________________________________ Installation ************ The evaluation version of TANLY32 is provided in compressed format (i.e. in ZIP format) 1. The simplest form of installation is to copy the compressed file to a single directory (i.e. \TANLY32). If you have a previous version of TANLY32 on your hard drive, and you want to retain it, create a different directory (i.e., \TANLYBKP). 2. Decompress the file using the decompression program. All distribution files should remain in the same directory. (e.g. pkunzip TANLY32.zip) 3. Start Excel 7 (or later) and load TANLY32.XLL addin. 4. Open TECHANLY.XLS to see how to use the addin. List of Files ------------- DISCLAIM.TXT ORDER.TXT README.TXT TANLY32.XLL TECHANLY.XLS ______________________________________________________________________ Overview ******** TANLY32.XLL is an Excel addin for Excel 7 or later which provides the user with a comprehensive suite of technical analysis models to assist in the prediction and confirmation of price movements for any type of instrument in all kinds of market cycles. The addin incorporates the most widely used models since experience confirms that no single system can be relied upon continuously. Certain models are better suited than others depending upon the market phase, and in certain situations, the On Balance Volume tool confirms or identifies price movements which are not apparent from the price tools. Models include:- Regular Moving Average Exponential Moving Average Weighted Moving Average Relative Strength Index Percentage Range Momentum Oscillators Stochastics Ratios Standard Deviation Correlation On Balance Volume ______________________________________________________________________ Function Description and Prototype ********************************** Regular, Weighted and Exponential Moving Average Charts ------------------------------------------------------- Moving Averages provide a method to smooth the data to remove erroneous price movements and highlight where the market is trending. Crossovers between price and moving average lines indicate possible breakout signals. Function prototypes:- RegMovAvg(DataRange, Period) WeightMovAvg(DataRange, Period) ExpMovAvg(DataRange, WeightingFactor) Relative Strength Index ----------------------- Wilder’s Relative Strength Index (RSI) is a prediction and confirmation tool that identifies overbought and oversold situations and the fact that the values are normalised between 0 and 100% allows the comparison of different instruments. Function prototype:- RelStrIndex(DataRange, Period) Percentage Range ---------------- William’s Percentage range compares the closing price with the range of closing prices over the selected period of days. Overbought indications are identified when the price is close to the highest price from the range, whilst oversold situations are identified when the price is close to the lowest price from the range. Function prototype:- PercRange(DataRange, Period) Momentum and Oscillators ------------------------ Oscillators and Momentum charts indicate the impetus left in a price swing. The Oscillator model is normalised to allow the comparison of different instruments. Function prototypes:- Momentum(DataRange, Period) Oscillators(DataRange, Period) Stochastics ----------- Lane’s Stochastics employ four indicators; %K Indicator, %D Indicator, %D-Slow and MA %D-Slow, which combine Percentage Range, Relative Strength and Moving Average methods to predict market trends. The combination of the tools allow the Stochastics model to be utilised in various market cycles. Function prototype:- LanesStochs(DataRange, %K_Period, %D_Period, MA_Period) Standard Deviation ------------------ Measures how widely values are dispersed from the average value. Function prototype:- StandardDeviation(DataRange, Period) Correlation ----------- Correlation is determined by comparing two instruments daily percentage price changes to give a measure of the price change of one instrument relative to the other instrument. Function prototype:- Correlation(X_DataRange, Y_DataRange) Ratio ----- Ratio measures the ratio between two instruments daily prices, which when combined with the correlation model provide a powerful method for pairs trading and basket trading. Function prototype:- Ratio(Data1Range, Data2Range) On Balance Volume ----------------- OBV indicates the strength of price trends, whether advance or decline. For example, a bullish or bearish signal is highlighted when the OBV and price directions are the same and not the same respectively. Function prototype:- OnBalVolume(PriceRange, VolumeRange) ______________________________________________________________________ How To Use TANLY32 Functions ***************************** Function Arguments ------------------ All Arguments to the functions are either a numeric array or a number. DataRange refers to the numeric array and should be a ONE COLUMN range of cells with an unlimited number of rows (i.e. n rows by 1 column). Period refers to the fixed number of days over which to run the model each day. WeightingFactor, between 0 and 1, refers to the factor by which more recent data influences the model. Function Results ---------------- All the functions return an array of results. In general the functions will return an array size equal to the size of the array entered. Therefore if the argument array has (n rows by 1 column) then the results array will have n values. When selecting a range of cells for the results array, users are recommended to usually select a ONE COLUMN RANGE of cells with the same number of rows as the argument array. In this way each result value can be matched up with its data value (See TECHANLY.XLS). The exceptions to this rule are:- The Correlation function which will return an array with 3 values corresponding to R2, intercept and correlation. The LanesStochs function which will return an array with (n rows by 4 columns) because this function returns four sets of results. Entering Array Formulae ----------------------- Users who are not familiar on how to enter an array formula please read the following:- 1) Enter the formula in the cell. You can use the function wizard to guide you. The first value from the array of results will be entered in the cell. 2) Starting from the cell where you entered the function, select the range of cells where the function will return the whole array of results. 3) Press Function key F2 to edit the formula. 4) Press CTRL+SHIFT+ENTER. The array of results will be entered into the selected range of cells. For more information on how to enter array formula please refer to the Excel online help (Search for "Entering an array formula"). Please refer to TECHANLY.XLS to see how models are used. ______________________________________________________________________ Registering as a Licensed User ****************************** As a registered user, you will receive a licensed copy of the latest TANLY32.XLL addin. The differences between the licensed copy and the evaluation copy are:- 1) Models are not restricted to the number of data points in the array(45 data points at most) 2) Periods are not restricted to either 5 or 14 3) Weighting factors are not restricted to either 0.2 or 0.8 In such cases the evaluation copy will return #N/A's. Please refer to the file order.txt for details on how to register for your licensed copy. Please feel free to contact us at any time if you have any questions, comments or suggestions at:- FIS Ltd. 28 Drakes Drive Northwood, Middx. HA6 2SL UK Or:- Electronic Mail: 100613.3010@compuserve.com