Scan for Relative strength greater than its 52 week average

sairamss

I am new to Stockcharts. I am looking for a scan code that looks for stocks that have a relative strength greater than the 52-week average of its own relative strength. RS is $SYMBOL:$SPX.

Please see below image.

markd

As far as I know, the scan engine still does not accommodate true RS scanning.

If you enter "RS" in the search box at the top of this page (below the black menu bar) you will find past requests and possible partial workarounds.

sairamss

Thank you.

lmkwin

The PctRelative filter can be useful, but the scan engine doesn't like Moving Averages for PctRelative, or just about anything else, EXCEPT performance measures.

From the Technical Indicators dropdown, it defaults into the workbench like this:

and [PctRelative(20,$spx) > 0]

Basically looking to return anything from your scan universe that outperformed the $spx over the last 20 trading days. So you can scan for relative performance, but not average relative performance. I have seen David Keller show a scan that used the Max function on PctRelative.

PctRelative(20,$spx) > 1 days ago max(65,PctRelative(20,PctRelative(20,$spx)

I don't use PctRelative for much but if he showed it, it must be something he uses. You can use a PriceChannel overlay of appropriate length, on your Price Relative indicator to show where the relative relationship is in regards to tops and bottoms, as well as 50% retracements as shown by the middle line of the channel.

sairamss

Thank you.