> I am trying to create an indicator that will mimic the Relative
> Strength Line from the IBD newspaper charts. Using the default RS in
> AmiBroker does not give same graph. I also use Worden's Tel-Chart,
> and I am able to get the indicator in TC to work correctly with the
> folowing formula:
> ((((C - C63) / C63) * .4) + (((C - C126) / C126) * .2) + (((C -
> C189) / C189) * .2) + (((C - C252) / C252) * .2))*100
I believe the calculation would be:
((((C - C63) / C63) * .4) + (((C63 - C126) / C126) * .2) + (((C126 - C189) / C189) * .2) + (((C189 - C252) / C252) * .2))*100
...but all that will give you is an weighted quarterly ROC with the most recent quarter double-weighted.
> Now my question is, can anyone adapt this indicator code for use in
> AmiBroker, so I can have an IBD Relative Strength Line in my AB charts
> as well?
The calculation above would only compute the weighted ROC for a single stock. In order to create the IBD relative strength line, you now need to rank the weighted ROC of that stock against the weighted ROC of all other stocks, then group the rankings from 1 to 99.
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