System Builder => Relative Strength of a stock against Nifty 50 is not available in Indicator listing
-
@Prashant-Shah @Raju-Ranjan @Krishna-Kumar @AP @Kaushik-Akiwatkar @Prasiddh-Shroff
Hello, I hope you all are doing well. I want to build a system based on both OHLC or PNF charts, focusing on the relative strength of a stock against Nifty 50. However, when I opened the system builder and tried to find 'Relative Strength' in the indicators list, I could not locate it. I am attempting to replicate the Turtle Quants system discussed in this video [Turtle Quants Investing/Trading] (https://www.youtube.com/watch?v=JD_wSkgcXxs), which incorporates Relative Strength, RSI, ADX, DMI+, Moving Average, and Volume. Relative Strength is the only missing indicator, preventing me from constructing the system for both OHLC and PNF charts. If you want to learn more about this system, please watch the video from the link I shared above.The creator of this system has developed an indicator for it, known as 'TurtleQuants: Relative Strength.' I would greatly appreciate it if someone from @Definedge @@Definedge-Experts team could guide me on how to create this system either for OHLC or PNF charts on RZone, or if they can inform me where I can find the Relative Strength of a stock relative to Nifty 50. I would then try to design this system by myself.
-
Hi, thanks for sharing. I'll study that. It is a small issue to plot the RS indicator in system builder since you need to provide the denominator. We are working on it. We will provide RS indicator in the system builder.
In the meantime, you can create systems with the other indicators you mentioned in the system builder. Save the output in a group and run the Relative strength indicator scanner on that group.
Zone web -> RS scanner -> RS Indicator scanner
-
System of turtle quants works very well on weekly charts and they have shown backtesting results in the video i provided. @Prashant-Shah Sir you are an expert and you will know efficiency of this system if you watch the video so please watch it if possible. i think this system is very good for people who just wants to do investing since system is based on Relative strength of stock on weekly charts. they even have provided smallcase (https://turtlequants.smallcase.com/) for this system.
Thank you for the reply @Prashant-Shah Sir
