Relative Strength

[LiboNZT]

I always stumble upon this very interesting subject. I want by the end of this week to make a simple spreadsheet including the relative strength of a few stocks that I have picked. How can I do this alone, without the need of any other resources other than the prices? For example If I pick a stock traded in the german exchanges in order to test it's relative strength what steps should I follow? Simply calculate it's daily returns in comparison with the DAX index?
Please share your knowledge on the subject! Thanks in advance!

 

[malaguti]

The indicator should not be confused with relative strength.

Which is what you have just done
Relative strength is the comparison of one stock, with that of another

typically you would divide the value of the stock, with that of the one you were comparing against (typically the market index), and multiply by 100. Thats the figure today. You do the same the next day etc and those values you plot in the same way as any other chart.
Not to be confused with the Relative strength indicator which is sh*te