I found a post from blog explaining how to rank some indicador together like moving average with ROC and etc.
But i would like script a rank only with a stock or sectors relative to benchmark. Does anyone can help me how do i start it?
It is just RS Rank relative to benchmark.
I know that i should use “RIC” scripting formula, right? But how i rank that?
You can use the RIC function in a watchlist, set from a certain date or period (eg Year-to-Date) which would show the relative performance to eg the Ibovespa index. Here’s the relative performance since the index high on January 23rd:
RIC(ZEROBASED=True, DATESEL=User Defined, INDEX=BVSP:WI, START_DATE=2020-01-23)/100
(It’s been divided by 100 to display as a % in the watchlist.)
Weg has out-performed the index by 97% since January 23rd:
This may also be useful for scanning new RIC highs:
Can RIC be used in rebalance type backtesting. I mean to say when we create year to date RIC does it will get adjusted in back date. Because when we do it in training mode it dosent adjust.