Relative Strength Levy (RSL)
Description
The concept of the Relative Strength according to R.A. Levy is that the past developments play a very important role in the strength that will be seen in the future. The current performance is compared to the past performance.
The calculation involves taking the weekly closes (or daily closes) and dividing them by the arithmetic mean of the closing prices for the examined period. The result is then balanced around the 10 marker, and an ordered list is created where the value of the highest RSL fills the first place.
Usage
Return value
double
When using this method with an index (e.g. RSL(27)[int barsAgo] ), the value of the indicator will be issued for the referenced bar.
Parameters
inSeries Input data series for the indicator
period Number of bars included in the calculations
Visualization
Example
Last updated