Here is an indicator to plot the relative strength of multiple instruments relative to a base symbol, upto 10 symbols. This can be easily extended to 50, which is the maximum limit in Ts for Data Set.

To use this indicator, insert multiple symbols into the chart and apply the indicator. To have a clear display, set the SubGraph to hidden for all symbols.

Data 1 will be treated as the base symbol, usually input this as SPY. You may use any base symbol.
Configure the total number of inputs to match the symbols inserted in the chart.


TODO : Add labels to the plots.

@rahulgopi would this also work with TS 9.1

paps 

@rahulgopi would this also work with TS 9.1

Yes, this is simple enough to work on older versions.

rahulgopi 

Here is an indicator to plot the relative strength of multiple instruments relative to a base symbol, upto 10 symbols. This can be easily extended to 50, which is the maximum limit in Ts for Data Set. To use this indicator, insert multiple symbols into the chart and apply the indicator. To have a clear display, set the SubGraph to hidden for all symbols. Data 1 will be treated as the base symbol, usually input this as SPY. You may use any base symbol. Configure the total number of inputs to match the symbols inserted in the chart. TODO : Add labels to the plots.

@rahulgopi Thank you so much for sharing. I was looking for a relative strength similar to TS NRSS(see link below) for Sector Rotation. I'm looking forward to test this out.

https://www.tradestation.com/education/labs/analysis-concepts/sector-rotation-spotting-the-turns

Eddie

rahulgopi 

To use this indicator, insert multiple symbols into the chart and apply the indicator. To have a clear display, set the SubGraph to hidden for all symbols.

@rahulgopi Thank you kindly for sharing!

I am trying to apply the indicator. I set the subgraph for all symbols to hidden but I get an error. If I set the subgraph for Data1 (SPY) to hidden, the indicator disappears? I can hide all the symbols I am comparing to with no issue. I must be making a bonehead error? Any ideas? I don't want to plot SPY due to the scaling difference between it and the indicator.

GoldenRatio 

@rahulgopi Thank you kindly for sharing! I am trying to apply the indicator. I set the subgraph for all symbols to hidden but I get an error. If I set the subgraph for Data1 (SPY) to hidden, the indicator disappears? I can hide all the symbols I am comparing to with no issue. I must be making a bonehead error? Any ideas? I don't want to plot SPY due to the scaling difference between it and the indicator.

Adjust the scaling for the indicator and choose to scale on right axis and subgraph 1. Your current setting is to scale on underlying axis and that is why the plot disappears when you hide SPY.

rahulgopi 

Adjust the scaling for the indicator and choose to scale on right axis and subgraph 1. Your current setting is to scale on underlying axis and that is why the plot disappears when you hide SPY.

Thanks so much , that fixed it - duh!