Registered User
Joined: 8/30/2011
Posts: 161
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im trying to make relative strength columns and/or indicators. At the moment im struggling with the symbols and dividing them.
I understand C will be current close of the selected symbol but if i want to divide this by the close of S&P 500 i cannot find the correct terminology (spx wont work so im assuming its not that.)
Can anyone help please
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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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
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 9/16/2013
Posts: 29
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Why don't you use the RSI Wilder's.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I do not know if rbayliss40 would want to use Wilder's RSI or not. While both the Relative Strength (RS) indicator and Wilder's Relative Strength Index (RSI) indicator have Relative Strength in the name, they are not the same thing.
Relative Strength is based on both the price of the active symbol and the price of the relative strength symbol. It really is relative to something else.
Wilder's RSI, despite its name, is only based on the prices of the active symbol. It is only relative to itself and not to something else.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 9/16/2013
Posts: 29
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OK. thats good to know. thanks
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Registered User
Joined: 8/30/2011
Posts: 161
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i have come up with a workaround solution i keep the s&p index in a watchlist on its own and set up my colums with the various relative strength timeframes im interested in, then compare the scan to see which ones are outperforming, not entirely what i had in mind but seems similar enough .
As Bruce said Darry Wilders RSI only shows the strength of the selected stock ,this way i can see how the stock is performing over various timeframes compared to an index such as the S&P so if its outperformed by say 10% over 3,6 and 12 months its likely to continue outperforming.
However if the benchmark is in decline then it could still outperform but decline at the same time just less so.
You can use this on any tradeble instrument (you dont even have to compare it against something you could have a set of performance criteria when it passes above those buy below sell etc.)
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