Relative Strength comparision

#1
How to use RSC in metastock?
I want to explore with the help of RSC to know that which sector is strongest and which script out of that sector is strongest.
Can anybody help me?
 

Traderji

Super Moderator
#2
sachin divase said:
How to use RSC in metastock?
I want to explore with the help of RSC to know that which sector is strongest and which script out of that sector is strongest.
Can anybody help me?
Check out the External Relative Strength - SpyGlass Market Toolbox (v2.5) add on for MetaStock at http://www.tsagroup.com/spy/ersa.php?
 
#4
Hi all,
I have the same criteria as required by sachin divase, I use amibroker and they have relative strength comparative which is nothing but only assigning value of a stock price w.r.t to Index price which is the foolish way to do:---
For Example Index ----6000 rs it is assigned 1000
Titan ---4000rs it is assigned 800
MRF ---7000 it is assigned as 1200
TTML - 20 rs is assigned 25
and so on
So it only scans stocks which are very close to Index Price which i feel is useless
So, Friends I need actual relative strength where its assigned rankings based the strongest and weakest stocks in select group of watchlist, also it should be from 0 to 100
So above 80 are strongest and below 20 are weakest........
After searching google i came to know there are many methods to derive that
If any body has that AFL for determining RS then please provide me

Thanks in advance

KEVIN
 

murthyavr

Well-Known Member
#5
Hi all,
I have the same criteria as required by sachin divase, I use amibroker and they have relative strength comparative which is nothing but only assigning value of a stock price w.r.t to Index price which is the foolish way to do:---
For Example Index ----6000 rs it is assigned 1000
Titan ---4000rs it is assigned 800
MRF ---7000 it is assigned as 1200
TTML - 20 rs is assigned 25
and so on
So it only scans stocks which are very close to Index Price which i feel is useless
So, Friends I need actual relative strength where its assigned rankings based the strongest and weakest stocks in select group of watchlist, also it should be from 0 to 100
So above 80 are strongest and below 20 are weakest........
After searching google i came to know there are many methods to derive that
If any body has that AFL for determining RS then please provide me

Thanks in advance

KEVIN
If you are using version 5.30 of AmiBroker, you will notice that they have introduced one new indicator - Relative Performance (available under Basic Charts).

It looks to be different from the earlier Comparative Relative Strength. I wanted to understand the underlying code for the new indicator, but I couldn't make out anything. When plotted on a chart, the values keep changing as you scroll left or right!

Any observations on this?
 
#6
Thanks Murthy sir
I was not knowing about this as I was not aware of the this system in Amibroker, Thanks once again for that
Shedding some light In this area u can see where is the stock performance is moving in relation to Nifty Index or the Sector Index.....So, U have to put ur Nifty and Stock and Sector for Example Nifty, ICICI, Bank Nifty in the parameter window and anlyse how it has moved
For example on Daily setting I come to know that Nifty has moved from 0 to 180 but the stock has moved just 0 to 150 but in Sector it have moved from 0 to 190 that shows how the stock is performing in the sector w.r.t Broader Market

This is one style of knowing Relative Strength, but i wanted some ranking based RS which is universal and related to all 500 stocks that i chose,( In USA they provide in Investors Business Daily)
During Bull Phase I will consider stocks which are above 80 in rankings
During Bear Phase I will Conseider stocks which are below 20 in ranking

Thanks
Kevin
 

Trady

Active Member
#7
It is possible to find out the Ranks of Different stocks from o-100 using AFL

I just came to know about this topic too and impressed with the rankings.
 
#9
Yes Trady
One can do it if they have the formula and as per my understanding these rankings are only from 0-100 to reduce any confusion as u will know which stocks to take when in bull market or bear market eith intra, swing or position.......Investor Business Daily's website gives them the rank according tto the performance of the stock vis-a- vis other stocks to find out high relative strength.this is th website

http://www.investors.com/Education/...ating+or+Relative+Strength&mode=searchResults

Kevin

P.S If any one has the formula and the ranking please provide
 

Taurus1

Well-Known Member
#10
One can do it if they have the formula
There is no standard formula as such, it all depends on what time frame you are comparing. A 200 day RS is different from a 10 day RS and so on. IBD uses proprietary methods to calculate their RS as I remember from some time ago. IBD is also widely followed so their RS rankings are publicly supported with buying at every dip creating a self fullfilling RS.
A strong stock on one time frame may well be a weak stock on another timeframe.
Nothing is strong or weak forever, when a strong stock breaks, that is what breaking is. :p
Ultimately the overall market is king, when it goes up or down, it moves everything with it.
 

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