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This function returns the current stock's industry position within the QuantShare industry list.
Industry list is automatically added to your database once you get ticker symbols using the "Symbol -> Auto Manage Symbols" feature.
Example:
Let us say that the stock's industry list is as follows:
Accident & Health Insurance
Advertising
Advertising Agencies
Aerospace + Defense
Aerospace/Defense - Major Diversified
Aerospace/Defense Products & Services
Agricultural Chemicals
Air Courier
If you execute the following line:
a = industryposition("Advertising Agencies");
The variable "a" will get a value of "2". If the specified industry do not exist then the "Industry Position" function return "-1".
To get the industry position of the active stock, type:
a = industryposition(industry());
This function is particularly useful if you want to perform trading system optimizations based on industry data. For example, you can use it to backtest each industry individually.
More information about that can be found in the following blog post: How to Backtest Your Trading System for Each Industry
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.