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[amibroker] Re: Relstrength question?



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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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