NSE Bank Nifty - Constituent Strength

NSE Bank Nifty - Constituent Strength

What is does:
Identifies how stocks under bank nifty index are performing if compared with bank nifty index.

Calculations:
A = Individual stock price
B = Bank nifty index price
C = A / B
D = average of A / B over length specified using input configuration

Stock is out-performing Bank nifty if A >= C
Stock is under-performing Bank nifty if A < C

Input Parameters:
Data source - For calculation of strength
Timeframe - For calculation of strength
Moving average type - SMA or EMA
Moving average length - Length for calculation of moving average
Show line chart for - One of the symbol from index constituents for showing line chart in the indicator window
S1 to S12 - Bank nifty stocks. Populated by default

Output:
Table listing each of the Bank nifty stocks
Stocks displayed in Green color are out-performing Bank nifty
Stocks displayed in Red color are under-performing Bank nifty
Line chart Price line - Blue colored line representing Stock price / Bank nifty price [point C from Calculations sections above]
Line chart Average line - Combination of Red, Green and Blue colors line representing average of Stock price / average of Bank nifty price [point D from Calculations sections above]