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Terry, Steve,
Thanks for your responses ... RelStrength() then is simply a ratio of
closing prices (Close multiplied by a constant: 1000/index)...
This means that when you compare 2 issues the ratio of their RelStrength()
is simply the ratio of their prices.
RS1 = C1 * 1000/Index;
RS2 = C2 * 1000/Index;
Therefore RS1 / RS2 = C1/C2
How does this help compare stregth of a particular issue ... and trading
decisions?
What am I missing?
Should I be using RSI as the comparison:
RS1 = RelStrength(RSI(stock1,periods))
RS2 = RelStrength(RSI(stock2,periods))
Ara
----- Original Message -----
From: "Terry" <MagicTH@xxxxxxxxxxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Sunday, October 03, 2004 11:34 AM
Subject: Re: [amibroker] Relative Strength
It divides the selected symbol by the SPX and mulitplies by 1000. Divide
SPX/SPX *1000 = 1000
Basically itıs used to compare your selected symbol to the S&P500.
--
Terry
From: "Ara Kaloustian" <ara1@xxxxxxxxxx>
Reply-To: amibroker@xxxxxxxxxxxxxxx
Date: Sat, 2 Oct 2004 21:57:31 -0700
To: "AB-Main" <amibroker@xxxxxxxxxxxxxxx>
Subject: [amibroker] Relative Strength
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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