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OmniTrader Archives
OmniTrader 2015 Technical Support
Relative strength Indicator
Last Activity 12/22/2017 11:03 PM
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JIm_in_england

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Joined: 6/16/2007
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Subject : Relative strength Indicator
Posted : 9/14/2016 7:50 AM
Post #37336

My understanding is the calculation is simply the average price of the security divided by the average price of the base symbol over the defined number of periods.

I see that in the "settings" there is an option to set units as either "price" or "return". What is return?

Given that the calculation returns an absolute result it is of no value in comparing the indicator across securities to establish which securities are performing best in say a sector. Is there any way of returning a relative value for the indicator where 1 = tracking the base symbol - >1 means outperforming the base symbol and <1 means underperforming the base symbol?
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Mel

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Subject : RE: Relative strength Indicator
Posted : 9/14/2016 8:07 AM
Post #37337 - In reply to #37336

Relative strength compares the price change of your symbol to a reference symbol over a lookback period. Above zero, doing better, below, doing worse. Pick your lookback.
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