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[EquisMetaStock Group] for Comparative Relative Strength



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Hi All !

Been trying to use/develop a Comparative Relative Strength indicator.

The following code gives me a straight line with a value of one.  What am I doing wrong?

 Anyone ?

Creation of a Template for Comparative Relative Strength

(For this illustration, we assume an equity/stock is compared to theS&P 500)

  • 1. Load the S&P 500.
    2. Load the equity, or whatever you wish to find the relative strength for.
    3. Drag the S&P 500 plot into a new inner window of the equity.(You may need to click Stack first.)
    4. Close the S&P 500 chart.
    5. Create a custom indicator: Div(close, p)
    6. Drag the custom indicator into the inner window containing the S&P 500 plot, moving it over the plot until the plot changes to a pink or lavender color, then release your mouse button. (The new indicator will plot in the same window as the S&P 500 plot.).

7. Save this chart as a Template.

 

Any time you want to see Comparative Relative Strength of an equity against the S&P 500, apply this template to the equity's chart

 

 

Thanks

TAI


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