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Price indicator beating whereby Stock is beating SPX
Comments
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You can't scan for Price Relative ($SYMBOL:$SPX) directly.
One way to approximate it however, might be to compare rate of change (ROC) for some period to the ROC for $SPX.
So let's say the ROC(21) for $SPX is 0.42%. So you would write
// begin ROC scan
[group is sp500] // or whatever you like
// get stocks with a ROC better than $SPX
// you must edit the right hand term (.0042) for the current ROC value for $SPX
// get the current ROC value from the $SPX chart with a style that includes ROC(21)
and [ROC(21) > .0042]
// sort the results, strongest first
rank by ROC(21)
// end ROC scan
You can put the results in a sorted list (check off "Preserve Sort Order" when you save).
If your chart style includes "$SYMBOL:$SPX" you will see that the slope of the RS line at the right side of the chart is up, indicating that it is out performing the $SPX.0
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