bharatTrader

Relative Strength of a stock

Determine the relative strength of a stock vis-a-vis a larger benchmark. Default is NIFTY50.
Release Notes: Cosmetic changes to make the display pretty and input choices in more logical sequence.
Release Notes: This version adds input as source type. So you can compare typical values, amongst other input values. Some cosmetic changes also naming of the plots etc.
Release Notes:
  • Added colour coding of crossover RS
  • Added label to mark reference date based on length input from the last bar
Release Notes:
  • Beautified the input dialog
  • Added Support to plot trend on RS line
The trend on RS line is the arctan value of current bar to previous range (default 5 bars) back. If the radians is positive a green colour zero line is plotted else maroon is plotted.

Open-source script

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.

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