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That is correct. RelStrength is used to compare the strength of desired
equity to any other equity. You could use RelStrength("CSCO") and choose
MSFT which WOULD then compare MSFT to CSCO.
RSI gives a relative strength versus the equitie's own performance over the
past X bars. You may want to check out Stochastic too. Itıs also based on
RSI. You can read all this in the help section. A quick access is to put in
the function in AFL, place your cursor somewhere within the word and hit F1.
--
Terry
From: "Ara Kaloustian" <ara1@xxxxxxxxxx>
Reply-To: amibroker@xxxxxxxxxxxxxxx
Date: Sun, 3 Oct 2004 13:57:58 -0700
To: <amibroker@xxxxxxxxxxxxxxx>
Subject: Re: [amibroker] Relative Strength
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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