Hi,
the RSL (Levy) indicator for relative strength would be a nice feature, especially for rotational strategies or creating a ranking for a data set.
the RSL (Levy) indicator for relative strength would be a nice feature, especially for rotational strategies or creating a ranking for a data set.
Rename
You could make this indicator yourself for use in a coded rotation strategy to be used for weighting .
Calculation:
Arithmetic mean of the candle closing price over the observation period.
RSL = Close / Moving Average
Calculation:
Arithmetic mean of the candle closing price over the observation period.
RSL = Close / Moving Average
Starting from build 25 it's become even easier. Simply use the MathIndOpInd indicator. Set the first indicator to Close and the 2nd to SMA. Voila.
Thanks for the tips!
@Eugene
However, the SMA of this RSL cannot be optimized with the MathIndOpInd indicator, so is there another solution?
However, the SMA of this RSL cannot be optimized with the MathIndOpInd indicator, so is there another solution?
Yes, you can create this indicator using the built-in feature: Tools > New Custom Indicator (C#). Look for more info in the Help (F1) > Indicators > Custom Indicators.
@Eugene
thanks for the answer
May I ask at this point why this very well-known indicator is not simply integrated into Wealth-Lab like all other indicators and could therefore also be optimized?
Or is this a problem that I'm missing?
thanks for the answer
May I ask at this point why this very well-known indicator is not simply integrated into Wealth-Lab like all other indicators and could therefore also be optimized?
Or is this a problem that I'm missing?
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