Custom Scan Using a Corrected Relative Strength Study
Quickly find stocks that over-perform or under-perform an index. This video shows how to configure a custom scan in Thinkorswim using an improved Relative Strength study. Use recent market turning points as your start date. The scan will compare stock performance from that date forward. Easily find stocks that are trending stronger or weaker than the index. Catch stocks as they make their first transition from under-perform to over-perform. Find out where the big money is reallocating their holdings.
Markets go through cycles, and during transitions the old leaders are replaced by new ones. This scan will help you spot those stocks which are in the process of that transition. Free custom code is included. The clickable link is embedded directly in the video. Be sure to not to miss it.
Link to study file: Scan_RelativeStrengthSTUDY.ts
Would you like to learn how to master the custom scan tools on Thinkorswim?
Click here: Thinkorswim Scans Beginner to Advanced
Learn how to build custom scans without writing any code: Thinkorswim Condition Wizard
DISCLAIMER: I AM NOT A CERTIFIED FINANCIAL ADVISOR AND NOTHING IN THIS VIDEO OR TEXT IS AN ADVERTISEMENT OR RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT. NOR IS THIS VIDEO OR TEXT INTENDED TO INSTRUCT YOU ON HOW TO MAKE BUY OR SELL DECISIONS USING ANY OF THESE INDICATORS.
TD Ameritrade provides financial services including the trading of Stocks, Futures, Options and Forex.
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Here is the code used to create your own custom watchlist columns as demonstrated in the video below.