Relative Strength Rank Indicator

Relative Strength Rank Indicator

This indicator is a ranking tool used to compare a group of stocks, ETFs or futures contracts to determine which specific instrument is performing best. The indicator creates a score based upon the symbols historical price movement. You can then compare this score to the other RS Rank scores of other stocks or ETFs in your basket of trading instruments. Thus, you can simply pick the instrument with the highest RS Rank score when creating a momentum based trading system.

The RS Rank is computed by taking the average of a long-term price change with a short term price change. This average is then divided by the 10-day Average True Range. This will produce a ranking score which can be compared to other instruments.


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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. cavineet • 07/08/2019 #

    Hi Nicolas, I have been using pr real time extensively but just end of the day. I would appreciate some advice on automated system where system it buys on cross over of 8 and 20 and sell also accordingly. How to get started with that automated system?
    Can you suggested the possible steps? I have interactive broker account


    • Nicolas • 07/08/2019 #

      Please ask questions on forums. Not the place here and not related to that post:)

  2. FabiusMor • 341 days ago #

    Good afternoon Nicolas,
    in your opinion, this indicator is somehow similar to the one described in this ( document in the first half of page 7?

    Thank you and have a nice day.


    • Nicolas • 340 days ago #

      Yes this is the same as described in this document.

  3. FabiusMor • 340 days ago #

    Thank you Nicolas. As I said in the other post I don’t know how to make a screener out of it yet. I’ll take a look to the documentation. Thanks a lot!

  4. FabiusMor • 339 days ago #

    Hi Nicolas, as you suggested I made a screener out of your indicator and the results are really interesting. Couple of questions:
    -why you divided by 2*atr?
    -in your opinion could be interesting to add two more timeframes in the calculation? Like 3, 6,9 and 12 months.

    Thank you and have a nice day!

  5. gildaslm • 151 days ago #

    Hi Nicolas, could you help me to set up the screener for this. Thank you !!

    • Nicolas • 150 days ago #

      Sure, please open a new topic in the screener forum and respect the posting rules.

  6. Sudu • 47 days ago #

    HI Nicolas,

    I know I’m bit late to use this somehow feel to give it a go. I cut and paste then I’ve got an error in line 38 “The keyword drawbarchart is only used for indicator programming (Probuilder) and also line 40 “endif”.

    any help please

    • Nicolas • 46 days ago #

      I think that you are trying to put an indicator code into a strategy or a screener code. Open the indicator creation code editor and everything will run fine.

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