Need to include a new condition in a market scanner code + create an indicator based on that condition

MQL5 Indicadores Asesores Expertos

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Great developer! Fast and very professional.

Tarea técnica

Hello,


I need to include a condition in the market scanner I already have. It works in US stocks. 


I need to include a new condition that finds additional to the already coded conditions the sotcks that are >= to 80 based on the following:


RELATIVE STRENGTH RATING

This technical tool is one of the most popular ways for clients to see the market’s top performers. The Relative Strength Rating is the result of calculating a stock’s percentage price change over the last 12 months. A 40% weight is assigned to the latest three-month period; the remaining three quarters each receive 20% weight. All stocks are arranged in order of greatest price percentage change and assigned a percentile rank from 99 (highest) to 1 (lowest).

Therefore it has to assign a  Relative Strength rating number to every stock in the marketwatch. The relative strength number of a stock indicates how well the stock has been performing over the last year compared to all other stocks . The maximum number is 100, the minimum number is 0. When a stock has relative strength number 100, it means that it outperformed all other stocks in the database. When the value would be 90, it means that this stock outperformed 90% of all other stocks.

We calculate this number by looking at the performance of each stock over the last year, but we put more weight on the most recent performance by adding the performance of the last quarter (as explained above). After calculating the absolute performance for each stock, we will rank all stocks according to the above metric. After ranking them, we can assign a value between 0 and 100 for each stock. The stock with the highest value for the metric will get value 100 because it outperforms all other stocks ( = 100% ). The second one only outperforms for exmaple, 7999 of 8000 stocks, so it will get a Relative Strength number of 99.99.

So in short:  the relative strength rating number is a number obtained  by ranking all stocks of a market by performance. BEWARE: this has nothing to to with RSI (relative strength index indicator).


For confirming I am getting th results I need I will be comparing them with the results I can get form this website: https://www.chartmill.com/stock/stock-screener?f=hrs_o80&s=fa


Once the conditions is included I also need an indicator that I can attach to the chart so I can know the value of the  relative strength rating of that specific stock.


I will need the condition to be able to activate - deactivate form the user interface of the indicator (market screener I will provide).


As it would happen that the conditions would need a lot of memory (there are over 3000 stocks in US market) I will need that the screener first check which stocks comply with the first conditions already coded in the scanner and once it gets those then do apply the final condition (relative strength rating) to the already filtered stocks and show me the results on screen as it does today with all the options available already (e.g. being able to click and automatically open the chart of the symbol).


I will provide the screener I already have to the applicants.


As always I will need the source code.

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