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Tim,
Thanks for the reply. I will have to try another approach as you
suggest.
regards,
Tom
--- In amibroker@xxxxxxxxxxxxxxx, "timgadd" <timgadd@xxx> wrote:
>
> Tom,
>
> If comparing individual stocks to different relative strength base
> symbols/indexes the individual values of the relative strength
ratios
> will be essentially meaningless. There are a number of ways
to "rank"
> by relative strength if each symbol is compared to the same base.
One
> of the simplest ways might be to calculate the rate of change of
the
> relative strength ratio plot over a specified period. Ranking of
> these ROC values will give a more meaningful comparison of strength.
>
> I'm pretty sure that the calculation for RelStrength is in the
> amibroker documentation somewhere. If not, it is definitely to be
> found by searching the group messages. There are (or used to be)
also
> some RelStrength ranking "systems" posted in this group's files
> section or in the AFL library at amibroker.com.
>
> Tim
>
> --- In amibroker@xxxxxxxxxxxxxxx, "trb0428" <tombrowne34@> wrote:
> >
> > 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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