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RS - Relative Strength explorer for Amibroker (AFL)

nareshpriya almost 11 years ago Amibroker (AFL)

  • Rating:
    3 / 5 (Votes 6)
  • Tags:
    amibroker, relative strength

Relative strength is a measure of the price trend of a stock or other financial instrument compared to another stock, instrument or industry. It is calculated by taking the price of one asset and dividing it by another.

check following links for better understanding.

http://www.investopedia.com/ask/answers/06/relativestrength.asp

http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:price_relative

when using this afl, please change the RS base ticker in parameters to your desired index.
presently we have given “NIFTY-I” which is national stock exchange (NSE-INDIA) index

SHORT LOWER VALUE OF relative strength
LONG HIGHER VALUE OF relative strength
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Screenshots

Indicator / Formula

Copy & Paste Friendly
_SECTION_BEGIN("RS");
base = ParamStr("RS base ticker", GetBaseIndex() );
Plot( RelStrength(base), _SECTION_NAME() + "(" + base + ")", ParamColor( "color", colorCycle ), ParamStyle("Style")  );
_SECTION_END();

5 comments

1. nareshpriya
almost 11 years ago

this is a scanner. one that u have in amibroker plots graph only. with this afl, u can scan the chart in different time frames like hrly daily or weekly and take decisions. anyway no issues. next time. btw thx for keeping the site clean and free from spam :)

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5. hirenvyas
about 5 years ago

getting Error with this Code LN:4, Col:22

error 21

Relative strength base symbol not found

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