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This function converts a string to a number. It generates a number from a string or combinations of letters and numbers.
The function is called "Num" and it uses the "GetHashCode" method of an object to generate a number.
The "Num" function can be helpful in many situations.
Here is an example using the composite function:
comp(rsi(14) > 60, "count")
The above function calculates the number of stocks whose 14-bar relative strength index (RSI) is higher than 60.
Let us say we want to calculate the same composite but we want to group the results by industry. This means that we want the number of stocks, within the same industry than the current stock, whose 14-bar relative strength index is higher than 60.
We would use the "industry()" function to get the stock's industry. The problem is that the third parameter of the composite (comp) function, which is used to group data, accepts no texts; it only accepts numeric values.
To solve this issue, we must convert the text value, which is the stock's industry, to a numeric value.
comp(rsi(14) > 60, "count", num(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.