Relative strength indicator using another instrument in IG ProRealTime

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  • 03/16/2026 at 2:26 PM #259038 quote
    fwsim
    Participant
    New

    Hello,

    I am trying to build a simple relative strength indicator in ProRealTime using ProBuilder.

    The goal is to compare the current instrument to another instrument (for example SPY or AMZN) and calculate:

    • Relative strength = close / benchmark close
    • EMA of that relative strength
    • Return the difference from the EMA

    Example code:

    spyClose = close("SPY")
rs = close / spyClose
rsEMA = ExponentialAverage[28](rs)
rsOK = rs - rsEMA

RETURN rsOK

    However, the editor shows a warning on the line referencing the external instrument and the indicator does not work.

    I am using ProRealTime via IG Markets.

    My questions:

    1. Does the IG-sponsored version of ProRealTime allow indicators to reference another instrument (for example close("SPY"))?
    2. If yes, what is the correct syntax for referencing another instrument in ProBuilder?
    3. If not, is this functionality only available in the Complete/Premium standalone version of ProRealTime?
    4. Is there any workaround for calculating relative strength vs the S&P 500 in the IG version?

    Thank you.

    03/16/2026 at 3:14 PM #259039 quote
    JS
    Participant
    Veteran

    Hi,

    In ProBuilder there is currently no possibility to use multiple instruments. Perhaps this will be available in version V13…?

    In ProScreener, however, it is possible to compare instruments using “EquityFrame”…

    There is also a separate module called “Calculated Instruments”, where you can, among other things, calculate a ratio between two instruments…

    So at the moment it is not possible in ProBuilder, but there are possibilities in ProScreener and in the “Calculated Instruments” module…

    Iván González thanked this post
    03/16/2026 at 3:25 PM #259041 quote
    Nicolas
    Keymaster
    Master

    The best solution is to create a “calculated instrument” with the current instrument name to compare divided to the index SPY. And then apply the below indicator code on this created price chart: 

    rsEMA = ExponentialAverage[28](rs)
rsOK = rs - rsEMA

RETURN rsOK

    Iván González thanked this post
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Relative strength indicator using another instrument in IG ProRealTime


ProBuilder: Indicators & Custom Tools

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fwsim @fergussimpson Participant
Summary

This topic contains 2 replies,
has 3 voices, and was last updated by Nicolas
12 hours, 24 minutes ago.

Topic Details
Forum: ProBuilder: Indicators & Custom Tools
Language: English
Started: 03/16/2026
Status: Active
Attachments: No files
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