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Is there the possibilty to use the Relative Strength Comparative in the Explorer and in the Indicator Builder?
If yes, could you give me an example of how to proceed?
Thank you
Alberto
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Rank: Advanced Member
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Yes, it is possible to use RSC in indicators & explorations, but unfortunately not with MetaStock's basic RSC.
Take a look at the URSC tool-kit for some examples of useful RSC indicators & explorations.
jose '-)
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Rank: Advanced Member
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Location: Verona - Italy
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Ehi Jose, take a look for the "security" function....
I can use the Relative Strenght in the indicator builder and in the explorer without problems
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Rank: Advanced Member
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Joined: 1/19/2005(UTC)
Posts: 1,065
Location: Koh Pha-Ngan, Earth
Was thanked: 2 time(s) in 2 post(s)
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Really?
Show me how.
jose '-)
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Rank: Advanced Member
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Location: Verona - Italy
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Here is a small example.
SXXP:= Security("C:\\Alberto\\Metastock\\Index\\SXXP",CLOSE);
"I indicate the path that contains the security to compare"
RS:= CLOSE/SXXP;
RS = HHV(RS,13)
AND
RS > 1.20
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 1/19/2005(UTC)
Posts: 1,065
Location: Koh Pha-Ngan, Earth
Was thanked: 2 time(s) in 2 post(s)
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Nope - that is not [color=red:4b7aac0acc] Relative[/color] Strength.
CLOSE/Security() is just a plain ratio between two securities, and ratios are practically meaningless when used across a basket of securities to measure Relative Strength. There is nothing relative about ratios.
For example, $50Stock/(Dow Jones Index) and $0.01Stock/(Dow Jones Index) give very different ratio results, which cannot be compared to each other using a simple formula such as RS > 1.20.
The URSC kit uses real %-based Relative Strength Comparisons, which allows a direct and meaningful comparison between any two indices/securities, regardless of their mismatched price range.
jose '-)
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 3/13/2006(UTC)
Posts: 53
Location: Verona - Italy
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I agree, but for what I need this indicator is ok.
In fact, I need to compare the DOW JONES STOXX 600 single sectors with the global DOW JONES STOXX 600.
And there is an exact proportion with these indices.
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