There is no option to create a scan using the relative strength indicator. However, if you add a moving average to it then the scan option 'is' available. But when I try to create a scan no results are produced, jus a window that shows how much time is taking to run the scan. But in reality, you can wait forever; no results are yielded. Is there a way to create a scan for relative strength?

1) add  RSI   /rsi  to chart

2) right click on RSI(14)   below

3) select scancondition add to existing watchlist 

4) add column

for russell 3000 for scan condition = "new high"   rsi(14) 50day new high  returns the following

Symbols from TC2000
NEM
DGIT
SNTA
SMRT
UTL
EE
ARTC
LCRY
NCIT
UAM
WPO
IBI
CDE

You can scan for the Relative Strength Index indicator (RSI or RSI - Wilder's), but you cannot create Conditions or Scans based on Relative Strength. Adding a Moving Average will not allow you to do so.

I do not know of a practical automated method of writing Relative Strength PCFs in either verison of TC2000 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

Let me reply to wwrightjuly4  because someone may look at this forum again.

A lot of people confuse Relative Strength INDEX (RSI) = Relative Strength (RS)

Relative Strength Index (RSI) is NOT equal to Relative Strength

The RSI computes momentum as the ratio of higher closing price to lower closing price. RSI does NOT compare to the other index or stock or the rest of the market.

 Relative Strength is comparing its stock price relative to the rest of the market.

As we all know by now, it's not possible to scan by relative strength (RS) but I think I have found a way to mimic almost perfectly the movement of the RS line. What I did was to create a pane for the RS; then addes a 3 period FWMA to smooth the RS a bit. On this ppane I add True Strength Indicator with a  short period = 5 and a long period = 50. This line runs almost the same course as the 3 period FWMA of the RS. So now you can do a scan based on the TS line and you will have the same results as if you were doing the scan on the RS line, which you cannot. So a 5,50 TS is the same as the RS movement. It works in all time frames and you have the added advantage that you can also plot the zero line. Comments and improvements are welcome.

I'm not the person who asked the original question but I was curious to understand what you were saying. I tried to follow the steps you outlined but I think I am making a mistake.. I recorded a quick screencaast to show you what I tried.. Could you tell me where I'm going wrong ?

http://www.screencast.com/t/qd1sAdxjPy

Just add a 3 period FWMA to the RS line then make the RS invisible. I dont need it. Now you have a line on the pane of the 3 period FWMA. On the same pane add a TS line with 5/50 periods. That's all. You can add a zero line now if you want and a moving average to the TS line. I do. If you compare the TS line and the 3 period MA of the RS line you will see that they are almost identical. You can make the line invisible now and just keep the TS line on the pane with a moving average on it and a zero line. Now you can perform your scan knowing that it would be the same as performing a scan on the RS line.

http://www.screencast.com/t/K2th6DPqfR

Aha I understand, the problem is that the TS indicator is not based on the RS, or its moving average.. It just looks similar to the RS.. When you add a TS indicator it is always just TS of the price data. 

Here's a screengrab that shows the difference

http://www.dowce.com/~EPv

When you select "Plot new indicator here" you get this window.

http://www.dowce.com/~EPw

Only the first few are based on the selected indicator.. The ones after the horizontal ine are just based on "Price History" and are completely independent of the indicator you selected.

I think what I am saying is correct - perhaps someone from Worden can confirm ?

The whole idea of finding the stocks with highest or lowest RS is interesting to me though - seems like it shouldnt be too hard for this to be possible in TC2000.. This should be a feature request.

I think what you have found are parameters for TS that make it look like RS for most stocks most of the time.. It took me a while to find a stock (DELL) that had adramatic obvious difference

Looks like dowce.com is having technical problems. Here are those screen grabs uploaded to screencast

http://www.screencast.com/t/uoUBof0o

http://www.screencast.com/t/iHimvc7AUar