Re: [amibroker] RELSTRENGTH

["Cloonan" <cloonan@xxxx>]

Tomasz,

To follow on from Geoff's original request.

My understanding is that at the present it is only possible to use
RelStrength() against a single index as in your example below which compares
it to the Australian All Ordinaries (XAO). What could be useful would be to
allow a comparison against say each stock's industry index.

It seems to me that we just need some variables which carry the relevant
industry & sector index names that we can reference. This capability seems
to be an implied in the Categories window where indexes can be set for
markets, groups and industries.

Have I missed the point on these assignments?

regards
Richard


----- Original Message -----
From: "Tomasz Janeczko" <tj@xxxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Saturday, March 17, 2001 6:40 PM
Subject: Re: [amibroker] RELSTRENGTH


Hi Geoff,

1. Yes you can, but please remember about two 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.
http://www.amibroker.com

----- Original Message -----
From: Geoff Mulhall
To: 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 in 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(); - doesn'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 relative strength of currently selected
security compared to "tickername" security
EXAMPLE relstrength( "^DJI" )


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