OPEN-SOURCE SCRIPT
Updated

CRS by TQ

1 150
CRS by TradeQUO
Comparative Relative Strength Indicator

What it does

  • Computes the percentage difference in performance between your current chart symbol (e.g. GC1!) and a chosen benchmark (e.g. ES1!, DXY, NQ1!).
  • Smooths that “CRS” line with a configurable moving average (SMA, EMA, WMA) — default length is 63 bars.


Key Plots

  • CRS (%) (aqua) — how your symbol has held up relative to the benchmark since the chart loaded.
  • CRS MA (%) (fuchsia) — smoothed trend of that relative strength.


How to Interpret

Trend-Following

  • Long when CRS crosses above its MA and is above 0 → your symbol is outperforming.
  • Short (or reverse) when CRS crosses below its MA and is below 0 → underperformance.


Regime Filter

  • CRS > 0 → Risk-On environment for your symbol vs. benchmark.
  • CRS < 0 → Risk-Off relative to the benchmark.


Divergence Signals

  • Bearish Divergence: Price makes a higher high, but CRS makes a lower high → potential sell-off incoming.
  • Bullish Divergence: Price makes a lower low, but CRS makes a higher low → look for rebound opportunity.


Pairs Trading

  • Outperformance: Long your symbol + Short benchmark when CRS > MA.
  • Underperformance: Short your symbol + Long benchmark when CRS < MA.


Why it matters

  • Reveals relative market leadership early, not just absolute price moves.
  • Helps you allocate risk dynamically, spot rotations and catch reversals before they show in price alone.


Release Notes
🧭 Update: CRS by TQ — Pro (v1.3)
A major refinement of the Comparative Relative Strength framework — improved visual logic, smoother workflow, and cleaner structure.

Changelog:
  • Added: MA1 is now visible in all modes (including US/EU/Asia sessions).
  • Refined: Auto-derived MA2 remains exclusive to “Chart Start” mode for proper normalization.
  • Improved: Fill and color balance for clearer bias recognition.
  • Updated: Input structure reorganized for better usability and logical grouping.
  • Fixed: Alert definitions moved to global scope (compile-safe).
  • Optimized: Benchmark label redesigned — now shows session awareness and active mode context.


Notes:
  • “Chart Start” mode anchors CRS from the first visible bar — ideal for intraday or multi-session studies.
  • Session modes (US, EU, Asia) reset CRS daily at market open — perfect for rotation and relative strength tracking.
  • MA2 length is auto-calculated from internal AutoDay logic (days × session-minutes ÷ timeframe-minutes).


Developed by tradequo © 2025 • advanced comparative analytics for professional traders.

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.