Use this indicator to compare how security is performing in compare with preferred index (SPX by default). > 0 outperforming < 0 underperforming
Works best for weekly, but can be applied to monthly and daily charts. It will be rather useless to use it in smaller timeframes Apply it to SPX, industry index, sector index or other security in similar sector
Versionsinformation
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UPDATE 1: Added sector and industry as optional params. Leave them same as index if you don't want to use them
How can I change this to use the FTSE 100 ass the benchmark, all help appreciated
Borsaliz
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very helpful thanks. What is the period/length? I understand the option to check moving average on/off but couldn't tell what the length is for
OstapChester
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@Borsaliz, By default 200 for daily, 52 for weekly, 10 for monthly. It can be changed in settings. Stan Weinstein used 52 for weekly in his book, I wanted to adapt it for shorter and longer timeframes if you're switching between timeframes without the need to constantly change length of MA
Good Day, I like this indicator very much. Can you please tell how to scan stocks based on this indicator with example of stock price, Index price, Stock & Index 200 Day SMA price. It will be very helpful. Thank you.
cajole
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Nice, thank you.
Leo2108
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Hi, How to manage when someone is actively trading various markets for e.g. Germany, UK, India and USA. Stocks in that country can not be compared only to selected SPX / Nasdaq etc. Can these codes be copied and saved with different names. US_MansfieldRS, India_MansfieldRS, UK_Mainsfield etc?
OstapChester
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@Leo2108, you can choose any sector as a ticker in the settings of this indicator