With this the one can view the performance of both the relative strengths in one indicator and overlay-ed on the price chart.
Adaptive - Date is identified based on market scenarios. It will change based on how the market trends in the future.
Static - Date is fixed (123 sessions). Roughly corresponds to 6 months.
The (default) colour coding is:
If "Both" is selected:
ars > 0 and srs > 0 = Blue
ars <=0 and srs <= 0 = Maroon
Orange otherwise (Any of ars or srs is negative)
If "Only ARS" is selected:
ars > 0 = Blue
If "Only SRS" is selected:
srs > 0 = Blue
Additionally the ARS and the SRS will be marked as labels on the bars corresponding to the reference dates.
The current ARS and SRS values will be market as label on the last bar.
Source can be any valid source, close is selected by default.
Default benchmark is "Nifty 50" the NSE Indian benchmark. This can be changed.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.