Relative Strength Chart Indicator?

16th Sep '20 by XTR

18 comments 1971 reads

Hello,

Can anyone recommend charting software which includes a Relative Strength indicator? For clarity, I am referring to the performance of a share in relation to its index and not Cutler's RSI which relates to the share's price momentum.

I currently use Stockopedia, IG and HL's charts but none of these offer a RS indicator, although Stockopedia does give RS in the stock report but only for fixed intervals (1, 3, 6 & 12M) .

Relative Strength is relied on by Stan Weinstein in his 'Success for profiting in bull & bear markets' so I assume that charts must exist which support this style of trading?

Thanks in advance,

Ian

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XTR

Premium Member

18 comments

Rusty2

16th Sep '20

Stockopedia does have a RSI indicator in the charts?

XTR

16th Sep '20

Hi herbie47,

The RSI in the Stockopedia charts is Cutler's RSI and refers to the equity's price momentum. This is distinct from Relative Strength (RS not RSI) which is a measure of how an equity is performing relative to its index, sorry if this isn't clear from my original post.

Regards,

Ian

seismo101a

16th Sep '20

You can add Relative strength plot in tradingview (I dont think the free version will allow you to add it though). I think you can get a 30 day free trial to tradingview, to see if its something you want to subscribe to.

This chaps twitter post has info on adding the relative strength (Mansfield RS) to a TradingView chart.

https://twitter.com/stageanaly...

I'm a big fan of TradingView for charts (I only use a small fraction of its capability), but similar to Stockopedia I'm a happy subscriber (get sufficient value out of it for what I pay).

There are usually subscription discounts to tradingview during the black friday sales event (27 Nov).

And yep big fan of Stan's work (my favourite investment book)

seismo101a

16th Sep '20

The IBD (Investor's Business Daily founded by William O'Neil) charts. Also have RS on them. But they only cover US stocks.

XTR

16th Sep '20

Hi seismo1010a,

Thanks for the pointer. Tradingview looks good at first glance and seems reasonably priced as well, although it seems that FTSE 100 is the only UK index included. This is probably going to be the case with all US/Global based chart packages but it's nevertheless a good option for UK large caps.

Thanks again,

Ian

seismo101a

16th Sep '20

Hi Ian,

Yep, I think when I wanted to look at the FTSE 250, my work aroud was to look at the chart for a FTSE 250 ETF i.e. ticker symbol HMCX.

XTR

16th Sep '20

I think the difficulty is going to be finding chart services with RS indicators for UK small & mid caps. I suppose I can always calculate weekly RS but a bit of a shame that this isn't readily available.

XTR

16th Sep '20

That's not a bad idea!

HumourMe

16th Sep '20

I've asked for this from Stockopedia and hoped the new charts would include it, however, not yet. I think sharepad has 'price relative to' and 'other share or index' as options but I don't have experience with that yet (I used to use Sharescope over 10 years ago and I think that had it then).

XTR

16th Sep '20

Hi HumourMe,

It can't be too difficult to make this available in Stockpedia's charts and would add significant value. How did you make your request as I intend to do the same?

I've seen Sharepad and it looks pretty good but I am satisfied and familiar with Stockopedia so I'm reluctant to change and unwilling to spend more than I already do on yet more subscription services.

Ian

HumourMe

16th Sep '20

I'd have thought it easy to add. Also the advance-decline line :-)

Requests can be made via the green chat device, bottom right, or the blue button, top right, here .

Although very happy with Stockopedia I'll be exploring Sharepad before my Stocko subscription renews in February, as there are some features that I feel increasingly drawn to.

jjis

18th Sep '20

Not sure if you mean something like this?

XTR

18th Sep '20

That's the one jjis, can you tell me where it's from please?

XTR

18th Sep '20

On closer inspection, I see it's from SharePad, thanks for the steer.

William K

3rd Apr '21

Yes I agree it would be useful to have access to the Mansfield Relative Strength Indicator on Stockopedia and I have put in a request for it. One way around the problem is to compare the chart for a standard index against the chart of the share price. That gives a pretty good idea of the relative strength. For example, in the chart below, one can see how Facebook has performed against the S&P 500 over the last year.

Mike888

3rd Apr '21

Looks like Chartmill has the facility

https://www.chartmill.com/docu...

Mike888

3rd Apr '21

I've just checked ProRealTime, its there as a standard indicator, so probably less hassle than chartmill.

David Lundgren

3rd Apr '21

Have you looked at stockcharts.com?

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Relative Strength Chart Indicator?

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XTR

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