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Mike,
A nitpicking question. Wouldn't it be more accurate to assume 22 rather
than 20 trading days per month in your formulas (or better, 64 trading daysper
quarter)? Also, doesn't IBD ignore all stocks whose prices are less than
$5/share? Thanks.
Al V.
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----- Original Message -----
<DIV
>From:
Mike
Lucero
To: <A title=amibroker@xxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Thursday, July 04, 2002 11:44
PM
Subject: Re: [amibroker] Relative
Strength
There are two kinds of relative strength. The relative
strength graph thatis shown on IBD graphs is built into Amibroker as
RelStrength(). The RSranking number is made by calculating an averageof
quarterly growth ofprice, then sorting by that number. The top 10% would
be RS rank 90+.Mikeqtrgrowth = (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
PMSubject: [amibroker] Relative StrengthIs there any way to
calculate or approximate a stock's RelativeStrength as defined by
Investor's Business Daily (i.e., the relativeprice performance of a stock
in comparison to all other stocks)?I tried using RelStrength
specifying the Wilshire 5000 Index (thebroadest market measure I am aware
of), but when I sorted theresults by the RelStrength, it was apparentthat
the order wasdirectly proportional to the Close price. Then I thoughtI
couldnormalize it by dividing by the Close price, but the results of
doingthis were 0.09, 0.10, or 0.11 for all 8,876 stocks -- not a
usefulmeasure.Am I missing something
here?Thanks,DamienYour use of Yahoo!
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