OPEN-SOURCE SCRIPT
Colored RS(Relative Strength)
Relative strength is a calculation of the price trend of a stock or a financial instrument in comparison to another instrument, stock, or industry.
Color indication
Color indication
- Red :: Benchmark returns is -ve and the RS_Value is below 0.
- Yellow:: Benchmark returns is +ve and RS_Value is below 0.
- Green :: Becnhmark returns is +ve and RS_Value is above 0.
- Blue :: Benchmark returns is -ve and RS_Value is above 0.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.