Tim, Thanks for the reply. I will have to try another approach as you suggest.
regards, Tom --- In [email protected], "timgadd" <[EMAIL PROTECTED]> 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 [email protected], "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 > > >
