Relative Strength

Optuma Forums Optuma General Discussion Relative Strength

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  • #29795
    AvatarTheodore
    • Topics: 30
    • Replies: 39
    • Posts: 69

    Making an RRG is easy, but how do I just do a relative strength of two indices/tickers?  SPX:VEA or some such comparion

    #29799
    AvatarTheodore
    • Topics: 30
    • Replies: 39
    • Posts: 69

    Perhaps I just figured it out?  Is it called a “Division Spread”?  So this is saying that the VEA is currently stronger than SPX.

    SPX to VEA

    #29803
    AvatarAndrew
    • Topics: 22
    • Replies: 25
    • Posts: 47

    Another way is to create a formula for strength. Mine is:

    This weights the 130 dma the same as the 23 dma plus the 260 dma. It doesn’t really matter.

    Then you can plot a few and see which has been stronger. The easier way is to put codes of interest into a watchlist and sort by the RS column.

    Capture

     

    #29811
    AvatarTheodore
    • Topics: 30
    • Replies: 39
    • Posts: 69

    1st – Thanks

    2nd – How do I get those data fields in my watchlist?  Do I need to create/code scripts for those?

    #29815
    DarrenDarren
    • Topics: 62
    • Replies: 503
    • Posts: 565

    Hi Theodore,

    You can add custom watchlist columns to add any formulas. Sign in here to watch Lesson 3 on adding columns:

    Introduction to Scripting

    Going back to your original question yes a Division Spread is one way, but you can also create your own symbol under Data > Custom Codes to create the chart. The benefits of this over the Division Spread chart is that you can add it to a watchlist or RRG, but also give it a title and apply alerts:

    Capture

    For a video on creating these ratio chart see here:

    How to Create Relative Strength Ratio Charts

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