A relative strength indicator that compares your main symbol (one on your chart) strength to another symbol by percentage.
The result is plotted as a histogram showing which symbol is rising or falling more in percentage.
In case your chart symbol is TSLA (Tesla) and the indicator 'Symbol to compare' is SPX:
GREEN area (above zero) means TSLA is rising more than...
For completeness of Relative Strength studies, the Relative Strength based on rate of changes (ROC) with weighting is coded and presented as well.
The RS.ROC is similar to the formulation of RS by IBD before rank among all the stocks in the market.
The lookback period is relaxed for customizing. Once you set the total lookback period, representing the 4Q, in the...
RVI Relative Volume Intraday is a simple label next to the last bar that shows the relative volume as a percentage of the ratio of today's volume to the average volume for the same intraday time period of the last five days. Useful for break-out intraday strategies.
This script visualizes the relative movement of a single OHLC candle compared to an index (or another symbol). The vertical location of the candle indicates the general positive/negative comparison of the bar vs the index. The color of the candle indicates how the candle moved relative to the index. The wick indicates the closing range compared to the index...
Cool little gudget of Multi time frame RSI with additional RSI. Both can be set to a different time frames.
Higher time frame (Second RSI) indicates the main trend by different colors - 'red' (down trend) and 'green' (up trend), where the first RSI can act as a normal RSI.
Suggestions/Questions or a thanks below :)
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The Relative Strength Volume Adjusted Exponential Moving Average was created by Vitali Apirine (Stocks and Commodities Feb 2022 pgs 14-18) and this is very similar of course to the last Relative Strength Exponential Moving Average . It works under the same concept with using overbought and oversold methods to adjust the moving average and with this particular...
Adaptive Relative Strength shows a line of relative strength with a moving period in relative to Nifty 500 for Indian Market,
by default its 45 days but you can change as per your need or change relative symbol as per your need.
Multiple Relative Strength (Multiple RS) (XP)
You can see three Relative Strength lines.
The lines are thicker going from RS1 to RS2 to RS3, for differentiation.
Using the three RS, you can see long, medium, and short term performance at once.
The Price Relative indicator compares the performance of one security to another with a ratio chart. This indicator is also known as the Relative Strength indicator or Relative Strength Comparative. Often, the Price Relative indicator is used to compare the performance of a stock against a benchmark index, S&P 500, BIST:XU100 etc.
Chartists can also use the...
Relative Strength indicator comparing the current symbol to SPY (or any other benchmark). It may help to pick the right assets to complement the portfolio build around core ETFs such as SPY.
The general idea is to show if the current symbol outperforms or underperforms the benchmark (SPY by default) when bought some certain time ago. Relative...