Relative Strength (Thomas Dorsey):
RS = a measure of performance vs. other equity or index.
RS = chart is a price of an asset divided by the price of a benchmark index.
RS = not the same as RSI
The following codes will work on Tradingview platform and it is what I need
to work on the NinjaTrader 8 platform. However, I need someones programming skills to
adapt it to work on Ninjatrader 8. I am willing to pay a modorate fee if required.
study("Comparative Relative Strength", shorttitle="RS")
a = tickerid
b = input("SPX", type=symbol)
as = security(a, period, close)
bs = security(b, period, close)
plot(as/bs, title="RS", color=gray)
len = input(10)
plot(sma(as/bs, len), color=navy)