PROTECTED SOURCE SCRIPT
RS Rating Vietnam - IBD Style (AlphaStock Edition)
Description: This implies the Relative Strength (RS) Rating specifically optimization for the Vietnam Stock Market, inspired by Investor's Business Daily (IBD) methodology.
How it works: Unlike the standard RSI (which measures internal momentum), this RS Rating compares a stock's performance against a benchmark index (Reference Index: VNMIDCAP or VNINDEX) over the last 12 months.
Calculation Formula: The rating is based on weighted performance (ROC):
40% weight: Latest 3 months (1 Quarter)
20% weight: 6 months
20% weight: 9 months
20% weight: 12 months
Features:
Auto-Scaling RS Line: The line automatically adjusts to fit the price chart, removing the need for manual fixed scales.
Benchmark Comparison: Compares stock Alpha vs. VNMIDCAP (default) to detect leaders even when the general market is skewed by large-cap stocks.
Color Coded:
Purple: Rating > 90 (Strong Buy/Leader)
Green: Rating > 80
Yellow: Rating > 60
Red: Rating < 60
Smart Display: Shows historical Rating values in the Data Window when hovering over past candles.
Credits: Designed by Admin AlphaStock.
How it works: Unlike the standard RSI (which measures internal momentum), this RS Rating compares a stock's performance against a benchmark index (Reference Index: VNMIDCAP or VNINDEX) over the last 12 months.
Calculation Formula: The rating is based on weighted performance (ROC):
40% weight: Latest 3 months (1 Quarter)
20% weight: 6 months
20% weight: 9 months
20% weight: 12 months
Features:
Auto-Scaling RS Line: The line automatically adjusts to fit the price chart, removing the need for manual fixed scales.
Benchmark Comparison: Compares stock Alpha vs. VNMIDCAP (default) to detect leaders even when the general market is skewed by large-cap stocks.
Color Coded:
Purple: Rating > 90 (Strong Buy/Leader)
Green: Rating > 80
Yellow: Rating > 60
Red: Rating < 60
Smart Display: Shows historical Rating values in the Data Window when hovering over past candles.
Credits: Designed by Admin AlphaStock.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.