Hello

I’ve seen in the discussion forum that is not possible to write symbols in relative strength PCF's.

So I assume it’s not possible to have the following relative strength indicator formula in TC2000

 (((C / close SPY) * 100)) /AVG52 ((C / close SPY) * 100))) - 1)*100

In TC2000 is there any other way to get this indicator? 

Thank You

Add a Relative Strength indicator with the Symbol of the RS indicator set to SPY.

Add a Price Percent Oscillator (PPO) indicator with the Short Period set to 1, the Long Period set to 52 and the Average Type set to Simple.

Then click on the PPO indicator and select Change Data Source to set the data source to Relative Strength vs SPY.

Change Data Source (3:38)

Thank you

Dear Sir,

I would like to use something like this:

nRoC =  ( close(0) - close(len) ) / close(len)

nRoCSPY =  ( close(0,SPY) - close(len,SPY)  / close(len,SPY)

RS =  nRoC - nRoCSPY *100

Would this be possible, using the above mentioned apprioach ?

I have not actually compared the formulas to see if the results would be exactly the same (probably not), but the results should be very similar.

Add a Relative Strength indicator with the Symbol of the RS indicator set to SPY.

Add a Rate of Change Percent indicator with the Period set to len.

Then click on the ROC% and select Change Data Source to set the data source to Relative Strength vs SPY.

Thank you Bruce

Indeed the number are not the same.

I would help me to understand the differences if you could show my the formula used voor the Relative Strengt indicator.

Would this by possible? Thanks in advance

Relative Strength is just the ratio of the price of the active symbol to the relative strength symbol. That really is all there is to it. Divide the price of the main symbol by the price of the relative strength symbol and done.

So if you calculate a Rate of Change Percent indicator on this over len bars, you would get the following (not actually a PCF which can be used in the program).

100 * ((close(0) / close(0,SPY)) / (close(len) / close(len,SPY)) - 1)

Or:

100 * (close(0) * close(len,SPY) / close(0,SPY) / close(len) - 1)

Thx Bruce, the RoC on the RS works fine, but not when put into in a watchlist. Is there a fix ?

This should work in TC2000 v16.0.5935.16314 and newer builds.

Release Notes