External Relative Strength (RS) for Amibroker

ERS measures the stock’s price performance relative to all other listed equities. Basically, it measures how well or poorly a stock is performing relative to its’ peers.

_SECTION_BEGIN(\"IBD RS RANKING\");
//IBD RS RANKING
RSW = 0.4*ROC(C,65)+ 0.3*ROC(C,130) +0.3*ROC(C,260);
Plot(RSW,\"RANKING IBD\" ,colorBrightGreen,styleLine) ;
Plot(EMA(RSW,10),\"\" ,colorRed,styleLine|styleDashed|styleNoLabel);
 
BuyIBD=RSW>EMA(RSW,10);
SellIBD= RSW<EMA(RSW,10);
 
Filter = (BuyIBD OR SellIBD) ;
AddColumn(IIf(BuyIBD,RSW,IIf(SellIBD,RSW,0)) ,\"RANKIBD\",1.0,colorWhite,IIf(BuyIBD,colorDarkGreen,IIf(SellIBD,colorRed,colorWhite)));
SetSortColumns(-3);
AddRankColumn();
 
_SECTION_END();