RE: How to create the Mansfield Relative Performance Indicator
Isatrader, that was a very helpful post. Thank you.
For traders who are using amibroker, you can find the code for replicating the mansfield relative strength indicator here:
_SECTION_BEGIN("RelativeStrength");
/* Relative Strength Comparison with Relative Strength Moving Average*/
RP = Close / Foreign( "^STI", "Close" ) * 100 ;
MARP = MA(RP,52);
MRP = (( RP / MARP) - 1 ) * 100 ;
Plot (MRP, "Relative Strength", colorBlack,styleHistogram );
_SECTION_END();
Clarification: ^STI refers to the Straits Time Index (the Singapore stock market index).