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Relative Strenght Analysis

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ron67

Posted : Tuesday, August 9, 2011 4:45:02 PM

Registered User
Joined: 2/1/2008
Posts: 13

I'm looking for a formula to compare a stock or a group of stocks to the S&P500. Do you have such a formula in your library?
Ron Daino

Bruce_L

Posted : Tuesday, August 9, 2011 4:53:26 PM

Worden Trainer

Joined: 10/7/2004
Posts: 65,138

I do not know of a practical automated method of writing Relative Strength PCFs in TeleChart as the Personal Criteria Formula Language does not have syntax for referencing other symbols. You may wish to review the following for a semi-automated technique for creating Relative Strength in a PCF:

Indexes in PCF's
RSMA PCFs

One of the built in Fundamental System Criteria compares the RS of the symbol to the S&P 500:

Definitions of all built in scanning and sorting criteria

Relative Strength 1-Yr (vs SP-500) - The relative change in price of a stock over the past year compared to the change in the SP-500 over the same time. The calculation is : (Latest Close Price of Stock / Latest Close Price of SP-500) / (Close Price of Stock 1 year ago / Close Price of SP-500 1 year ago) * 100.

You could also add a Relative Strength Indicator to the chart and set the Comparison Symbol to SP-500.

Relative Strength

-Bruce
Personal Criteria Formulas
TC2000 Support Articles

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