Relative Strength Line [WavesUnchained]

Category: momentum, trend

Measures relative strength against a benchmark (Mansfield RS) and provides confluence signals only when the symbol's own price trend aligns with its outperformance.

Formula

RS = \frac{Price_{Symbol}}{Price_{Benchmark}} \\ MRS = \frac{RS - SMA(RS, n)}{SMA(RS, n)} \times 100 \\ Signal_{Long} = (MRS > 0) \land (Price > EMA(Price, m)) \\ Signal_{Short} = (MRS < 0) \land (Price < EMA(Price, m))

Inputs

• Benchmark Symbol (default: AMEX:SPY)
• Mansfield MA Length (default: 50)
• Price Trend EMA Length (default: 50)
• Display Mode (default: Mansfield RS)

See signal primitives, usage in published strategies and more on WOBR StrategyVerse.