RS - Relative Strength explorer for Amibroker (AFL)

nareshpriya

over 9 years ago

Amibroker (AFL)

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

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

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