GA - Comparative Relative Strength

21 Jul 2019

GA - Comparative Relative Strength is an Oscillator. It shows the Relative Strength of a Financial Instrument.

It defines the Relative Strength in relation to Markets, Sectors, Sub-sectors ETFs. Besides, it includes also Currency Indices and the manual selection of Financial Instruments.


Groups of ETFs and Manual Selection

You enable the Group of Financial Instruments that collects the ETF in your interest. Besides, you can enable more that one group. This lets you show Relative Strength Curves related to ETFs of the groups selected.

For example, it can show the Relative Strength related to Market and Sector ETFs. Besides, you can show the Relative Strength related to Sector and Industry ETFs.

The Groups of ETFs are SPDR Categories:

• SPDR Core ETFs.
  
• SPDR Select Sector ETFs.
  
• SPDR Industry ETFs.
  

An extra group includes Currency Indices.


Oscillator around Zero

The Relative Strength of 2 Financial Instruments waves around a borderline. This line is a mean. The GA - Comparative Relative Strength normalizes the curve to the borderline. This makes an Oscillator around Zero.


Upper and Lower Bands

Upper and Lower Bands can follow the full curve. But you can Enable or Disable the visualization of Partial Bands. They follow the curve only for positive waves or for negative waves.

Bands are dynamic levels. Their role is to define where the Relative Strength becomes relevant or normal. When the Relative Strength persists above the Upper Band, Financial Instrument is strong. When the Relative Strength persists below the Lower Band, Financial Instrument is weak.

The Upper and Lower Bands are relevant tools in the decision process to enter the market long or short.

You need to buy Financial Instrument that is outperforming the related market. In the same way, short/sell financial instruments that are under-performing the marketplace.

A Relative Strength that decreases below the Upper Band shows a weakening. A Relative Strength that increases above the Lower Band shows a reinforcement. These indications can precede an eventual change of sentiment of large investors.


Currency Indices

The difficult part is when you want to define the Relative Strength of a Currency Pair. In this case, you can compare a pair with a group of other related pairs. In the same way, you can try to use a Currency Index or a specific calculation.

The use of a Currency Index shows limitations to define the Relative Strength in a proper way.

But an expert trader can define it in different ways so as with different tools. Besides, an expert trader knows the pairs included in the currency index. Moreover, he knows the formula and the weights of the currency pairs included in the index.

The GA - Comparative Relative Strength gives you a collection of Currency Indices. You can enable it and use the Currency Index you need.


Note: I restrict access to the tool.

Regards


Girolamo Aloe
Founder of Profiting Me


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Examples

Comparative Relative Strength of APD on SPY (Market Composite Average)




Comparative Relative Strength of APD on XLB Materials Sector




Comparative Relative Strength of ADP on SPY and ADP on XLB

21 Jul 2019

Nota Keluaran

Changelog

• Added US Indices (no ETFs)
  
• Added S&P Sectors (no ETFs)
  
• Updated Strings in the Settings Box
  

21 Jul 2019

Nota Keluaran

Changelog

- Fixed a bug that used to stop the plotting of the area when the Relative Strength was crossing zero.
- Changed and Reduced the necessary Code for the drawing of Full and Partial Upper and Lower Bands.
- Added the "Divider for Partial Bands" that allows the setting of when to plot the Partial Bands, according to the Relative Strenght Level.
- Removed unnecessary code.

25 Jul 2019

Nota Keluaran

Changelog

• Added SPDR Commodity / Real Assets ETFs
  

14 Ogo 2019

Nota Keluaran

Changelog

• Temporarily, Added a Second Select Box for Currency Indices to use together with the First Select Box for Currency Indices.
  

14 Ogo 2019

Nota Keluaran

Changelog

• Cleaned some code lines.
  
• Fixed a couple of typos in the Settings Box.
  

15 Ogo 2019

Nota Keluaran

Changelog

• Added a new Function for the Inverted Comparative Relative Strength.
  
• Inverted the Comparative Relative Strength of Currency Indices 2, according to the specific use of the Currency Indices with Currency Pairs.
  
• Changed Colors Palette for the Currency Indices 1 and 2.
  

15 Ogo 2019

Nota Keluaran

Changelog

- Added the Combined Function for the Comparative Relative Strength of the Pair with its relative 2 Currency Indices.
- Removed the Function for the Inverted Comparative Relative Strength.
- Removed Plots of the Curve that is not more necessary, related to the Currency Comparative Relative Strength.
- Cleaned the Code removing the not used line instructions and those instructions not more necessary.

20 Ogo 2019

Nota Keluaran

Changelog

• Optimized the Settings Box for a better Visual Impact.
  
• Added a set of Currency Index ETF Trackers for the Comparative Relative Strength of Currency Pairs.
  

21 Ogo 2019

Nota Keluaran

Changelog

• Fixed a bug about plotting colors when both Currency Indices and Currency Index ETF Trackers are enabled.
  

22 Dis 2019

Nota Keluaran

Changelog

• Added the Long Signal Curve. This curve shows the trending.
  
• Changed the Calculation for the Partial Visibility of a Curve. In this case, it affects the Long Signal Curve.
  
• Changed the Coloring Function for Long Signal Curve. It highlights weakening and strengthening of the Comparative Relative Strength.
  
• Decreased the Smooth from 4 to 3 for the Comparative Relative Strength Curve.
  
• Removed the Strength Bands Curves.
  
• Removed 8 Plot Functions, improving performances a bit.
  
• Improved Text in the Settings Box.
  
• BugFix: Adjusted Coloring for US Index Curves.
  
• BugFix: Fixed S&P Sector Curves Plotting.
  
• Cleaned the Code.
  

2 Feb 2020

Nota Keluaran

Changelog

• Added the Color Transparency Parameter that affect every Curve and Area.