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There are two kinds of relative strength. The relative strength graph that
is shown on IBD graphs is built into Amibroker as RelStrength(). The RS
ranking number is made by calculating an average of quarterly growth of
price, then sorting by that number. The top 10% would be RS rank 90+.
Mike
qtrgrowth = (2*C/Ref(C,-60) + Ref(C,-60)/Ref(C,-120) +
Ref(C,-120)/Ref(C,-180) + Ref(C,-180)/Ref(C,-240))/5;
Plot(qtrgrowth,"qtrgrowth",1,1);
----- Original Message -----
From: "Damien" <damienb4l@xxxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Thursday, July 04, 2002 2:47 PM
Subject: [amibroker] Relative Strength
Is there any way to calculate or approximate a stock's Relative
Strength as defined by Investor's Business Daily (i.e., the relative
price performance of a stock in comparison to all other stocks)?
I tried using RelStrength specifying the Wilshire 5000 Index (the
broadest market measure I am aware of), but when I sorted the
results by the RelStrength, it was apparent that the order was
directly proportional to the Close price. Then I thought I could
normalize it by dividing by the Close price, but the results of doing
this were 0.09, 0.10, or 0.11 for all 8,876 stocks -- not a useful
measure.
Am I missing something here?
Thanks,
Damien
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