Relative strength charts in eSignal?

[bgold]

I am looking for advice on how to create relative strength charts in eSignals Adv Charts. Example: in adv chart a study casn be created which displays the underlying security relative to the S&P 500.
I have seen them being used by Michael Kahn in his Quick Takes in a Barron's publication but fail to grasp how to create them myself.
Your help much appreciated.

 

[Mayfly]

Hi bgold,

It’s probably best if you use Normalised Relative Strength, which is the simply the division of the close price of one instrument by the close price of another. The resulting line is then indexed to start at 100, which will allow you to make direct comparisons of the price movements over the period range(s) you’re interested in because all the values being drawn will reflect percentage changes from the base period.

I would have thought that esignal provided this indicator for you? 😱

Cheers

Mayfly

 

[bgold]

Hi bgold,

It’s probably best if you use Normalised Relative Strength, which is the simply the division of the close price of one instrument by the close price of another. The resulting line is then indexed to start at 100, which will allow you to make direct comparisons of the price movements over the period range(s) you’re interested in because all the values being drawn will reflect percentage changes from the base period.

I would have thought that esignal provided this indicator for you? 😱

Cheers

Mayfly

That is exactly what I am looking for but cannot find the study in the basic list of studies or any of the formulas? The idea is that by clicking the study tab, one gets the normalised rel strength graph as study below the price chart.
Thanks