Re: [amibroker] RELSTRENGTH

["Tomasz Janeczko" <tj@xxxx>]

Hi Geoff,
 
1. Yes you can, but please remember abouttwo 
things:
  a) RelStrength() function needs an 
index ticker to compare to, for example "XAO" (ASE all ordinaries 
index)
  b) RelStrength() values are not normalized, 
so they are different for each stock. This means that you can only 
get
      resonable results 
if you check for rising/falling RelStrength or if you detect a new high or new 
low.
      Absolute 
levels (such as 1) do not work.
 
2. Use graph1 = RelStrength( "XAO" ); to generate 
relative strength of currently selected stock compared to the 
index.
 
3. Comparative Relative Strength is calculated by 
simply DIVIDING the closing price of currently selected stock by the 
closing 
   price of BASE stock 
(usually an index):
 
    RELSTRENGTH = CLOSE / 
CLOSE_OF_BASE_STOCK;
 
 
Best regards,Tomasz 
Janeczko===============AmiBroker - the comprehensive share 
manager.<FONT 
size=2>http://www.amibroker.com
<BLOCKQUOTE 
>
----- Original Message ----- 
<DIV 
>From: 
Geoff 
Mulhall 
To: <A title=amibroker@xxxxxxxxxxxxx 
href="">amibroker@xxxxxxxxxxxxxxx 
Sent: Friday, March 16, 2001 10:48 
AM
Subject: [amibroker] RELSTRENGTH


G'day Tomasz,
 
Can you assist with the following please 
?
 
1. Can I use  RELSTRENGTH i<FONT 
face=Arial size=2>n an Auto Analysis over a selected industry (using a 
filter to choose the industry) to return all those stocks with say 
ma(relative strength(), 30) > 1 say ? (Assuming I have set up the base 
indices correctly of course).
 
2. If not, can I plot the relative strength 
in a separate chart window 
 
graph1 = RELSTRENGTH(); - d<FONT 
face=Arial size=2>oesn't work because there is no argument for the 
ticker.
 
3. Would you have a reference you could point me 
at on RELSTRENGTH. (I'm wanting to use it to create a watch list as per 
Weinsteins 'Secrets of Profiting in Bull & Bear Markets') so I want to 
understand how RELSTRENGTH is calculated in AmiBroker.
 
Thanks again,
 
Geoff
 
 
RELSTRENGTH 



SYNTAX 
relstrength( "tickername" )

RETURNS
ARRAY

FUNCTION 
Calculates <FONT  
color=#ffffff>relative strength of currently selected security 
compared to "tickername" security

EXAMPLE
relstrength( "^DJI" 
)Your 
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