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Relative Strength revisited

I have been reading around regarding how to use ROC to emulate relative Strength. I am drawing a blank.

Basically I want to compare the one year price change of a stock vs. the one year index change of the TSX times 100

so essentially the ROC for 1 year of the stock divided by the ROC for 1 year of the index.

Then scan for any stock that scores above lets say 90.

Is this even possible to create this in Stockcharts



  • I don't think you can do what your are asking in exactly the way you have specified.

    However, if your goal is to discover stocks that are outperforming the TSX for 1 year ROC, there are two ways to do it.

    First, get the TSX ROC value from the TSX chart with the ROC indicator set to 1 year. Let's say that value is 25. Then you would write a scan for stocks on the TSX exchange with 1 year ROC > 25. Each time you run the scan, you would check the ROC value for TSX and edit the scan to include that value.

    A second way would be to make a list, or lists, of stocks you are interested in, say mining stocks, and include TSX in that list. Then run a scan on that list with a rank by ROC(251) statement at the end. On the results page, the stocks that come out above TSX are outperforming it. The ROC value for each symbol will appear to the far right.
  • Thanks. Both sound like they would pull what I am looking for. Also now I understand the value of ROC. In my case the 250 ROC is 8.38% so I would look at all stocks above this (for a "RS" of greater than 100).
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