RS Screener by @iArpanK

Screens for stocks that made new highs in Relative Strength (RS) and sorts the results according to their RS Score.

RS is an indicator popularized by Investor’s Business Daily (IBD) and available on their MarketSmith platform. They have a screen called the Blue Dot list in their Premium subscription, which screens for stocks making a new high in RS. This screener achieves the same and also ranks the results according to their RS Score which uses the same formula as the RS Rating.

Download directly from Google Drive ⤓

Features

• RS New High (Blue Label)
• RS New High Before Price (Green Label)
• RS Score (similar to RS Rating)

RS Score is calculated according to IBD’s formula as:

RS Score = 40% * P3 + 20% * P6 + 20% * P9 + 20% * P12

P3, P6, P9 and P12 are the stock’s 3 Months, 6 Months, 9 Months and 12 Months performance respectively. Giving 40% weightage on the last quarter’s performance and 20% on the other three.

Input Parameters

• Base Symbol : Symbol of the security/index with which you want to compare
• New High Period : Lookback period for new highs in RS (default is 250 i.e. equivalent to 52 weeks/1 year)

Installation

RS Screener requires Amibroker to run.

• Download the .zip file
• Extract it
• Folder contains the AFL file, RS Screener by @iArpanK.afl
• Use it in your analysis

Filters Used

• RS New High / New High before Price
• Closing price greater than equal to 10
• Volume greater than equal to 10,000

RS Indicator

You can check out my RS Indicator on TradingView.

Contact

You can reach me on twitter at @iArpanK, where I share my ideas & psychology tips.