OPEN-SOURCE SCRIPT
market relative strength
Overview
market relative strength is a custom indicator that visualizes how strong or weak a given asset is compared to a selected market benchmark — such as KOSPI, NASDAQ100, BTC dominance, or total crypto market cap.
How It Works
The indicator calculates the relative return between the current asset and the selected benchmark over a user-defined period. It then normalizes the difference into a 0–100 score:
Above 50 = outperforming the market
Below 50 = underperforming the market
Above 70 / Below 30 = strong divergence from market trend
Use Case
This is ideal for identifying assets with strong relative performance, detecting trend leaders or laggards, and rotating positions between sectors or assets based on strength.
Customization
Choose from a list of market indexes or crypto metrics
Set the comparison period and normalization range
Visual cues with background shading for strong/weak zones
Note
This is not the same as RSI. This indicator is based on relative performance to a benchmark, not price momentum.
market relative strength is a custom indicator that visualizes how strong or weak a given asset is compared to a selected market benchmark — such as KOSPI, NASDAQ100, BTC dominance, or total crypto market cap.
How It Works
The indicator calculates the relative return between the current asset and the selected benchmark over a user-defined period. It then normalizes the difference into a 0–100 score:
Above 50 = outperforming the market
Below 50 = underperforming the market
Above 70 / Below 30 = strong divergence from market trend
Use Case
This is ideal for identifying assets with strong relative performance, detecting trend leaders or laggards, and rotating positions between sectors or assets based on strength.
Customization
Choose from a list of market indexes or crypto metrics
Set the comparison period and normalization range
Visual cues with background shading for strong/weak zones
Note
This is not the same as RSI. This indicator is based on relative performance to a benchmark, not price momentum.
开源脚本
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免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。