External Relative Strength (RS) for Amibroker (AFL)
sonnos about 8 years ago Amibroker (AFL)
ERS measures the stock’s price performance relative to all other listed equities. Basically, it measures how well or poorly a stock is performing relative to its’ peers.
You can read more about the ERS here
This indicator should be run as an exploration to compare to other securities.
Indicator / Formula
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_SECTION_BEGIN("IBD RS RANKING");
//IBD RS RANKING
RSW = 0.4*ROC(C,65)+ 0.3*ROC(C,130) +0.3*ROC(C,260);
Plot(RSW,"RANKING IBD" ,colorBrightGreen,styleLine) ;
Plot(EMA(RSW,10),"" ,colorRed,styleLine|styleDashed|styleNoLabel);
BuyIBD=RSW>EMA(RSW,10);
SellIBD= RSW<EMA(RSW,10);
Filter = (BuyIBD OR SellIBD) ;
AddColumn(IIf(BuyIBD,RSW,IIf(SellIBD,RSW,0)) ,"RANKIBD",1.0,colorWhite,IIf(BuyIBD,colorDarkGreen,IIf(SellIBD,colorRed,colorWhite)));
SetSortColumns(-3);
AddRankColumn();
_SECTION_END();4 comments
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Very good, It is working with option. Congrats
Sir, Only Works In MCX How TO Solve Issue with NSE
Should work on any market there is no market specific code in the formula.
WHere is the option to enter the 2nd Script/stock name