Relative Strength of a stock — Indicator by bharatTrader

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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?