Plotting The Relative Strength Line In StockCharts, TC2000 And TradingView | TraderLion

This blog post will walk you through the steps to add the Relative Strength line to your Stockcharts setup.

Stockcharts  FREE  accounts allow you to chart three indicators and this is enough to plot the  Relative Strength Line over-layed with SPX  in a style that is  very similar to MarketSmith .

We won’t walk you through the registration process but we are sure you can figure that out for yourself at StockCharts.com

Step 1: Set up your Chart Attributes

HLC Bars achieve the same candle type as on MarketSmiths platform.
Time Span can be configured to your liking
Up Color: Blue
Down Color: Pink
Select: Log Scale, Color Volume, Smooth Lines

The Chart Attributes are personal preference.

Step 2: Depending on the level (if FREE) you can plot up to 3 Indicators / Moving Averages on the charts. (21, 50, 200DMA are typical Moving Averages that we like to use on our charts)

The Overlays are of personal preference. Stockcharts allows you to set colors and opacity as well.

Step 3: Plotting the Relative Strength Line and SPX price action

In the Indicators Section, set the first Indicator to  Price-Performance  and for  Parameters  use the  $SYMBOL:$SPX
This will allow you to compare “Symbols” to the $SPX which is the Relative Strength Line
We set the color to  BLUE  for the  Price-Performance Indicator
Next, to plot the $SPX price line select  Price  from the Indicators drop down and then type in  $SPX  for Parameters.
To achieve a plot of the $SPX behind the Relative Strength Line we just plotted set the  Position  to  Behind Ind.
That is it. You are all set.

How to Plot Relative Strength Line as a Candlestick

Below we do a few comparisons on how this stacks up with MarketSmith’s Relative Strength Line. Enjoy! 🙂

StockCharts Chart with Relative Strength Line and SPX Price Action

Note the Blue Relative Strength Line on MarketSmith and how it compares to what plotted on StockCharts. A very similar effect.