FTB-C000458 / Formula component

Strict-Lower Rank

Strict-Lower Rank counts only reference values strictly less than the current value when computing percent rank.

Also known asstrict-less-than rank

Intermediate Formula defined 1 linked topicPublished

Definitions

In plain terms

Prior observations equal to the current return receive no partial or full lower-rank credit under this package.

Technical

The comparator, floating-point tolerance, window population, denominator, and missing values must be frozen.

Scope

Different midrank or less-than-or-equal conventions can produce different Connors RSI values.

Formula

Strict-lower percent rank = 100 * count(prior values < current) / N
LaTeX: PR_t=100\frac{\#\{r_i<r_t\}}{N}
SymbolMeaningUnit
r_iprior reference returnpercent
r_tcurrent returnpercent
Nnumber of prior reference returnsobservations

Output unit: percent

Examples

  • A governed lesson calculates or identifies Strict-Lower Rank only after its inputs, window, state, scale, and edge cases are declared.

Common misconceptions

  • Different midrank or less-than-or-equal conventions can produce different Connors RSI values.

Concept relationships

Prerequisites

Related

Where this concept is used

Tutorials planned

These catalogued topics use this concept, but their complete build has not shipped yet.

  • D07-F03-A08 Important

Evidence and governance

  1. Connors Relative Strength Index Implementation QuantConnect Lean · first party technical publication

    Supports: preferred label, short definition, technical definition, formula

    Limits: The moving branch can change; exact parity requires a pinned revision and an explicit tie and ranking-window contract.

Reviewed by
fintech-builder-batch-008
Last reviewed
2026-07-29
Next review
2027-07-29
Record status
published
Written by

Fintech engineer building market-data and financial systems, and the author of every article, glossary record, and reference implementation on The Fintech Builder.