relative price strength not RSI
- price vs index if goes up - means stock strong
- index vs price is often shown -
- if rising means index is strong and share is weak
- falling index vs price means share is strong
- https://www.traderji.com/community/threads/free-relative-strength-not-rsi-screener.101103/
- What I do is screen the stocks according to different criteria (in short identifying those in uptrend/reversal), then select only those that have the highest relative strength,
- then further 'analyze' them with regards to MACD, volume and BB.
- Finally I cut out those stocks if there are very tall candles over the past 2-4 trading session (i.e >15% climb in one day) to
- try and come up with 4-5 stocks every week (usually) and committing max of 8k per trade/50k per week. I am not saying that each and every stock makes money but according to what I tested,
- I found that majority of the stocks (i.e 6-7 out of every 10) are able to reach 8-10% quickly, around 3-4 stocks will rise by 16-20% and around 2 will rise over 30% (these are rough estimates mind...
- I was backtesting them for my own satisfaction so I didn't really tabulate them...and again this won't work if the market crashes with all stocks losing out)
- If you check out the screener at marketinout, you will find a section listed 'relative strength' and you can use it to
- find the outperformers with respect to
- different time frames
- (one week,
- two week,
- 1/3/6 month and
- one year).
- The problem here is that it is not an indicator because if it was one, then I think almost all of the screeners would have it..(and I don't want relative strength indicator as I have tested relative strength and not RSI)
relative price strength
video can slim