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Would some kind soul explain the RelStregth() function.
RS = RelStrength( "!SPX") ;
Plot(RS,"RelStregth",colorBlue,styleLine|styleThick);
I am using the code above as a test.
I observed the following:
1. When I select "!SPX", the result plotted is 1000
2. When I select any other symbol, the result ranges from 1 to about 35.
I used "ABFS" to look in more detail with last data point on 10/1/04:
SPX price change = +16.92 (or 1.518%)
ABFS price change = + 1.53 (or 4.178%)
The result of RelStregth for ABFS was 33.7163 and is constant (a flat line on chart) across all dates
The results remain the same regardless of what date I select or look at daily, weekly or monthly chart.
Would someone explain exactly what RelStrength does?
Thanks
Ara
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