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Making my first attempt at a very simple Relative Strength scan.
Using the ROC function, I'm able to create a RS number. I'm also
able to code a simple moving average qualifier for a buy signal, as
well as an exit.
What approach should I use then to rank the securities by their new
RS number, and buy say the top 5? Would the new Percentile function
be the way to handle this? Here is what I have so far:
Filter = GroupID() == 0;
RS = ROC(Close, 120);
Avg = EMA(Close, 28);
Exit = Close < Avg;
NumColumns = 3;
Column0Name = "RS Index";
Column0 = RS;
Any help would be appreciated!
-Eric.
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