Out of curiosity I chose the SP400 MidCap Component Stocks as a wathchlist and sorted with this pcf, and then sorted with TC's built in sort "Price Percent Change 26-Week."  The results of the comparison were very, very close.  I flagged the top 20 sorts from the pcf, then sorted by the built in TC 26-week change, and 15 of the pcf flagged stocks were within the top 20 of the TC 26-week sort.  Just from this first simple little test I think using the built in TC sort for finding strong RS on a six mo. period might work just as well.   And if using as a pcf condition for an EasyScan, the formula is a simple one and shown by clicking the little blue "i" icon in the pcf list .

I´ve tried to build this formula with TC2000 for the RS Ranking: 

((((C - C63) / C63) * 0.4) + (((C - C126) / C126) * 0.2) + (((C - C189) / C189) * 0.2) + (((C - C252) / C252) * 0.2)) * 100

There are some differences to the real IBD RS.

Here the comparison from today:

AMRS           IBD RS: 97      TC2000 RS: 82,53

SQ                IBD RS: 98      TC2000 RS: 81,3

ELVT             IBD RS: 90      TC2000 RS: 29,59

MYOK           IBD RS: 86      TC2000 RS: 20,22

It was clear to me that there is no one to one comparison, but in the results showing above the RS shows no linearity? Or have I made something wrong?

Thank you in advance, 

Steffen

The TC2000 formula returns an absolute value. It can be over 100

IBD returns a ranking value, from 1 to 100 (or maybe 99). They do it by calculating the absolute value, and then giving us the Rank

We can Scan based on Relative Rank to do the equivalent of what IBD does

1. Add IBD RS TC2000 formula as indicator on your chart
2. Right Click on Indicator Name
3. Select Create Condition
4. For Condition (default is Gtreater Than, select Ranks
5. Move the upper and lower bars to what you want (example: Lower bar at 90, Upper bar at absolute top will return Stocks whose IBD RS value is in top 10%)

Manually, you could add IBD RS value as calculated by TC2000 as a column in your watchlist, and then sort on it. You'll see a few very high values but it drops down quickly, and you can see what value is at say, 95% (for today)

Or create a Scan Light in the watch list, and the resulting bar is proportional to the Rank within the universe.

There is a slight discrepency in your examples between AMRS and SQ, the higher TC2000 formula should have a higher IBD RS rank, but I've never seen a major discrepency which would affect my trading decisions

Thank you for your explanation. I'm new with TC2000 and your comment was also very helpful for me to learn how to put the indicator in the chart. I'm still an IBD subscriber but it would be a time safer routine if I had the direct (more or less) IBD RS ranking in my TC2000 watchlist. I'm working with the Minervini Trend Template and the last criteria is an IBD RS Ranking greater than 70. Let see what I can learn in the next month here. Very great program and the best service with this board I've ever seen. I would appreciate this kind of service here in Germany. 

Have fun and a good start in the new trading week. 

Best regards, 

Steffen

Hello,

I get an error with the formula above. Here a capture of the error message. Could you please helpe me, i'm a newbie ;) 

Does your computer happen to be set to use the , as the decimal marker instead of using the . as the decimal marker as would be more common in the United States? If so, you may want to try rewriting the formula in such a way that it doesn't use decimal markers at all.

40 * C / C63 + 20 * C / C126 + 20 * C / C189 + 20 * C / C252 - 100

Nitpicker

Do you have a scan based on Minervini strategy? I just finished reading his book and will like to create a scan. Thank you.

If what I found on the internet is correct, then all of the requirements of the trend template besides IBD Relative Strength should be part of the following condition formula.

C > AVGC50 AND AVGC50 > AVGC150 AND AVGC150 > AVGC200 AND TrueInRow(C > C200, 30) = 30 AND C >= 1.3 * MINL252 AND C >= .75 * MAXH252

There isn't a way to convert the following base formula for IBD Relative Strength from a value to a rank in TC2000, but you could use it as a WatchList Column and sort.

40 * C / C63 + 20 * C / C126 + 20 * C / C189 + 20 * C / C252 - 100

If you plot the PCF for IBD RS on the chart, you can then

Create Condition on the indicator

Select Ranks and then adjust the sliders for for top 10, 20 or 30% as you want to reduce the watchlist to those which would have an IBD RS of 90, 80 or 30, respectively.

You can leave the PCF plot on your chart, delete it, or Pin to the side so that it does not take space, but is accessible

At the time of this post, selecting stocks with IBD RS in the top 20% (along with other criteria) leaves 156 stocks from the High Cap 3000 list

40 * C / C63 + 20 * C / C126 + 20 * C / C189 + 20 * C / C252 - 100

can be simplified to

2 * C / C63 +  C / C126 +C / C189 +  C / C252 - 100

Ultimately theere is lot of duplication in that data. Easier way to do this would be just sort by

c/avgc126

and select top 10% or 20% 

The 2 * C / C63 + C / C126 + C / C189 + C / C252 - 100 simplification is not quite correct but would work if trying to use a rank (either by using Rank in a scan or just by sorting the results). That said, this could be simplified to the following if you wanted to do this (no need for the -100).

2 * C / C63 + C / C126 + C / 189 + C / C252

But if you want this returned as a percentage (note this is not a rank), you would probably want it is follows.

20 * (2 * C / C63 + C / C126 + C / 189 + C / 252 - 5)

This would have no bearing on if just using C / AVGC126 would be better or not however (and that is the type of question upon which I really can't comment).