I am using the below formula to generate relative strength ranking similar to Investors Business Daily. I am seeing many stocks have same rank, is there a way i can ensure only one number is assigned to one stock?
I can see that the ranking part is coming from the below snippet but i do not know what i can do to get my required outcome.
@erukumk if I understand your concern correctly, multiple names sharing the same relative strength (if indeed similar to IBD) is not unusual. If you look through IBD you will see that many of them share the same rankings. One other thing I might mention, not that it is really that big of deal, is that I have never seen a ticker get a 100 on IBD's relative strength. The highest I have seen is 99. Whether it is possible to get a 100 or not I cant say but what little I do know about it, I don't think so. Overall, I think what you have is fine. What I would do is compare your ratings with that of IBD. I think that would make the most sense.
@MCassICT all your observations are true. I take the exploration results to IBD for further analysis.
My concern that forced me to take a relook at the code was, when I initially adopted the code, there was not much difference in value on IBD and from AFL, now I see as much difference as 10 so I wondered if enforcing unique ranking will bring the score closer to IBD score.
Will try the suggested solution to see if there is any improvement.
@erukumk do you by chance subscribe to IBD digital? There are some great post on this forum of a couple ideas people have used to scrape the IBD data into Amibroker. @rocketpower has done an amazing job coming up with a way to do that using their eTables and then another user took that idea and does it using the IBD screener. Ive used @rocketpower's to build out mine. Check out my interpretation panel and exploration.....