Relative Strength Line

[Stok]

I am looking for an indicator that plots a securities price to an index (such as SPY). It would be a simple calculation of (securities price/SPY price) and thus would plot a number. Showing relative weakness/strength. I have searched around to see if anyone has made that or if I missed it within NT8 indicators. Thanks for any help!

edit: similar to this - https://stockcharts.com/school/doku....price_relative

[NinjaTrader_JoshG]

Hello Stok,
Thanks for your post.

Generally it is against out policy to create, debug, or modify code. A similar script has been requested several times, so I am going to go ahead and create this script as a courtesy.

I will post it here when I am done.

[Stok]

Hello Stok,
Thanks for your post.

Generally it is against out policy to create, debug, or modify code. A similar script has been requested several times, so I am going to go ahead and create this script as a courtesy.

I will post it here when I am done.

Thanks Josh!

[NinjaTrader_JoshG]

Here you go. This sample uses the SPY, but could easily be modified to compare any two instruments.

To Import:
1. Download the attached file to your desktop.
2. From the NinjaTrader Control Center select the menu Tools > Import > NinjaScript Add On...
3. Select the downloaded file.

Let me know if you have any questions.

[Stok]

Thanks Josh!! I'll play around with it :-)

[RobotSyndicate]

Just wanted to also say thanks for making this! It helped me learn how to do it.

[vikkasm]

Hi Guys,

Basis this thread, I am trying to use the relative strength indicator for my research work but am not sure on how to change the comparative symbol to any other symbol. Secondly I dont know how to change the # of days for which I want the symbol/comparative symbol calculation to reflect for me.

Below is the screen shot from in.tradingview, added it as a link and do see the attachement as well

[vikkasm]

Hi Guys,

Basis this thread, I am trying to use the relative strength indicator for my research work but am not sure on how to change the comparative symbol to any other symbol. Secondly I dont know how to change the # of days for which I want the symbol/comparative symbol calculation to reflect for me.

Below is the screen shot from in.tradingview, added it as a link and do see the attachement as well

hey Guys any help or update on the above thread please

[s.kinra]

Hello vikkasm,
You need to modify the code so it adds Nifty as currently its using SPY, this is not provided as user configurable so you don't find it in settings. Just replace "SPY with "NIFTY" in line 49 & you will get the plots, hope it helps!