Hello, I hope you like this representation of the Mansfield Relative Strength Indicator. The calculations have been made based on the following formulas: Standard Relative Performance indicator RP = ( stock_close / index_close ) * 100 Mansfield Relative Performance indicator MRP = (( RP (today) / sma ( RP (today), n)) - 1 ) * 100 Where: RP = Standard...
Use this indicator to compare how security is performing in compare with preferred index (SPX by default). > 0 outperforming < 0 underperforming Works best for weekly, but can be applied to monthly and daily charts. It will be rather useless to use it in smaller timeframes Apply it to SPX, industry index, sector index or other security in similar sector