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Title:      Relative Strength Gauge Script for eSignal 10.x
By:         Chris D. Kryza (Divergence Software, Inc.)
Email:      ckryza@verizon.net, ckryza@sr-analyst.com
Web:        http://www.sr-analyst.com

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Project Description:   

This indicator will calculate a Relative Strength value for up to 7 symbols
input by the user. The Relative Strength calculation is that used by Investors
Business Daily (IBD).

The IBD RS formula measures performance in Quadrants (60 bars) and then
produces a final RS value based on a weighting of the most recent 4
Quadrants.

The indicator will calculate an RS value for each of the symbols entered by
the user and will then plot the results as a strength gauge in an indicator
pane. The user can select between two types of RS calculations (Standard and
Normalized). The Standard calculation is best used when comparing similar
securities (i.e., 7 stocks with similar price ranges) while the Normalized
calculation is better for comparing the performance of dissimilar securities
(i.e., stocks vs currencies, or low-priced securities to higher-
priced securities).

The plot itself consists of a column for each symbol entered by the user. The
column consists of the symbol name, the RS value (Standard Calcualtion) or 
rank value (Normalized Calculation), and a power-meter visual display to
facilitate a visual ranking of the symbols.



Indicator Parameters:

Quadrant Size:              The number of bars that define a Quadrant. The default value
                            is 60 bars which is the standard value used in the IBD 
                            formula, which was designed for daily bars. Average number of
                            trading days in a year is 240 so a quarter of that would be
                            60. You can adjust this value as needed.

Calculation Type:           You can select from "Normalized IBD RS" and "Standard IBD RS".
                            The Normalized calculation is better when comparing disparate
                            symbols (i.e., currencies to stocks, or low-price securities to
                            high-priced securities) because it takes into account the
                            average fluctuation of the security. The Standard calculation is
                            strictly based on the RS formula used by IBD.

Calculation Interval:       This is the bar interval to be used for performing the RS 
                            calculation on each of the symbols. The default value is "D" 
                            (Daily bars) which means that, by default, a RS calculation 
                            based on Daily bars will be performed. You can input any valid 
                            eSignal bar interval in this field (1-min and higher).

Horiz Start:                The horizontal offset (in pixels) where the first bar of the 
                            graph should display in the indicator pane. The default value
                            is 25 (pixels).

Sort by Strength:           If True, the resulting RS data will be sorted from lowest to
                            highest prior to plotting. If False, the RS data will be plotted
                            based on the order of the symbols as input in the menu.

Symbol XX:                  There are 7 menu items available for inputting symbols. If you
                            only wish to compare 4 symbols, for example, then just enter
                            symbols in the first 4 symbol menu fields and leave the last
                            3 blank.



Dislaimer: For educational purposes only! Obviously, no guarantees 
whatsoever and use at your own risk.

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