This version of Mansfield Relative Strength ( MRS ) weights the MRSs with different lookback periods by adding the weight of 2:1:1:1 to MRS (1Q) : MRS (2Q) : MRS (3Q) : MRS (4Q). Typically, the lookback period of a MRS is reference to a full year, i.e. 260 trading dates or 52 weeks; to better represents the relative strength of a stock to a recent performance,...
There are many investors referring to Relative Strength (RS) indicator published by Investor’s Business Daily (IBD) for their analysis. Since the RS published by IBD is a proprietary indicator, no exact formulation is published on it. Many discussion suggested that an alternative to the IBD RS is the Mansfield Relative Strength . There are 2 parameters for...
For completeness of Relative Strength studies, the Relative Strength based on rate of changes (ROC) with weighting is coded and presented as well. The RS.ROC is similar to the formulation of RS by IBD before rank among all the stocks in the market. The lookback period is relaxed for customizing. Once you set the total lookback period, representing the 4Q, in the...
Relative Strength Line Introduction The script adds a line/candlestick to your charts that shows how well a stock is acting relative to the Index. We call this Relative Strength Line. Relative Strength ( RS ) separates leading stocks from laggards. Stocks showing RS during a market correction phase will often be the strongest movers once the general market is...
3 Weeks Tight - Introduction 3 weeks tight is a bullish continuation pattern discovered by IBD's founder, William O'Neil. The pattern can used as an opportunity to add to an existing position as it often occurs after a breakout above a cup with handle or other technical pattern. The 3 weeks tight pattern forms when a stock closes within approximately 1% to 1.5%...
This is the original script to my other Relative Strength indicator (link below) It provides a graphical overlay of the Relative Strength, compared to the QLD, a Nasdaq x2 ETF. You can not use the value to compare to other stocks or securities, as it is scaled based on the price (so it can be used as an overlay). If you want a value which you can use to...
A relative strength overlay, similar to that of IBD shown on Marketsmith. The value is not from 0-100, it is compared with the Nasdaq x2 ETF, QLD. Therefore, if greater than zero it will give you a good indication that the stock has a very good relative strength. Feel free to change the comparison ETF to one of your choosing.
Upside reversal is noticed when a stock first dips below the prior week's low, then rallies in heavy trade to close either with a gain or with a much-reduced loss. Upside reversal can be identified with following condition: A stock falls in heavy volume but bounces back, ending up for the day or week OR A stock falls in heavy volume but at least it finishes in...
Relative Strength calculation of 3 time periods: 12 months, 6 months and 3 months.
This is a standard Moving Average indicator with options to allow different configuration of daily and week length. All other chart time frame (besides daily and weekly) will be using the default length value. Default, daily and week length are configurable. Default value of MA source is set to closing price, configurable as well. Here are the default value,...
This is a standard Volume indicator with options to allow different configurable daily and weekly MA length. All other chart time frame (besides daily and weekly) will be using the default MA length value. On top of the configurable daily and weekly MA length, a dot is displayed for volume x% > current MA length. This is to indicate institutional buying when...
Relative Strength Line compares equity's price performance with S&P 500 (default). The indicator will retrieve current equity value comparing it with S&P 500 equivalent time frame. S&P 500 is set as the default index for comparison. This value can be change to any equity available in the market, located at the format settings of the indicator.
This code is to replicate the relative strength indicator as used on investors.com (on lists like the IBD 50, big cap 20 etc). Let me know if any issues / any updates wanted.
This script automatically flags distribution days. Distribution days are defined as any day that is down -0.2% or greater on heavier volume than the previous day. Distribution days are counted on the major indexes (S&P 500, NASDAQ, NYSE, etc...) within the CANSLIM methodology.