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External Relative Strength (RS) for Amibroker (AFL)

Rating:
4 / 5 (Votes 3)
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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();

3 comments

1. SADAI

Very good, It is working with option. Congrats

2. prachi_252

Sir, Only Works In MCX How TO Solve Issue with NSE

3. administrator

Should work on any market there is no market specific code in the formula.

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