Note: The original formula was updated to prevent errors caused by zero values in some instruments' Relative Strength calculation.

Markos Katsanos’ article “Using Relative Strength to Outperform the Market” introduces an alternative to the standard Relative Strength Comparative indicator. The MetaStock version of the RSMK is below: 

RSMK:

Formula:

rsbars:= Input("RS Bars", 10, 300, 90);
sk:= Input("Smoothing Constant", 1, 5, 3);
sec1:= Security("ONLINE:SPY", C);
sk2:= LastValue(Rnd(sk));
rs:= Max(C / sec1, 0.00001);
Mov( Log(rs) - Log(Ref(rs, -rsbars)), sk2, E) * 100;

Edited by user Wednesday, June 22, 2022 4:13:58 PM(UTC)  | Reason: Not specified