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Ask a Trainer - TC2000 version 12/17
Rate of Change of another Indicator
Good morning. I'm trying to put together an idea.
Say I have a group of tickers:
What I'm trying to do is rank the group using a combination of relative strength relative to the group (not an index) and rate of change. I'm trying to evaluate relative movement and strength within the group for each ticker in the group.
Say this is on a 20 day basis. Period is arbitrary, just trying to work out this idea.
Thank you, and I hope all is well.
I mean to edit my post title but didn't do so. Should be something like "ranking strength and movement in a group" etc.
I would just add all 5 symbols as their own indicators to a chart.
Then add 5 Rate of Change Percent Indicators to the same pane and scale on the same chart and change the Data Source of those 5 ROC% indicator to use the 5 symbols you added earlier.
Use different colors for each symbol.
Use the same colors for the ROC% indicators as you used for the symbols.
It isn't a relative strength in that the values are the actual ROC% values for each symbol instead of being compared to a benchmark representing the batch of 5 symbols, but you can see the ranks visually and you can see the crosses as the ranks change.
Thanks, Bruce. Hope all's well.
I'll try what you suggested to see what it looks like. Thanks.