- ago
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.
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- ago
#1
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

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- ago
#2
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.
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- ago
#3
Thanks for the tips!
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- ago
#4
@Eugene

However, the SMA of this RSL cannot be optimized with the MathIndOpInd indicator, so is there another solution?
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- ago
#5
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.
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- ago
#6
@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?

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