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Does anyone know the significance of the value returned by
relstrength("tickername") ? I want to use the value that is returned as
my positionscore for deciding which trades to take when I have
multiple buy signals but I can't find a definition of the value that is
returned so I can compare values on a normalized basis. For example, my
first buy candidate may be a technology stock that I am comparing to
the Nasdaq and receive a relstrength("Nasdaq") value of x, and my
second buy candidate may be a industrial stock that I am comparing to
the Dow and I receive a relstrength("Dow") value of y. How do I compare
x and Y ? If I were comparing both symbols to the same index, I suppose
I could just choose the higher number, but since I am comparing stocks
from different sectors/industries to different benchmarks I am needing
a way to compare the values returned by Relstrength. Does anyone know
how this is being calculated...I have searched the documentation but
can't find anything.
TIA,
Tom
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