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snehmishra666

Relative Index Strength

snehmishra666  
Relative Strength Index (RSI)
10
0
relativestrengthindex
This script shows relative strength of custom stock compared to Index. It is helpful in detecting how strongly a stock is performing when compared to an Index.

When the index is falling but the custom stock is rising, indicator shows this in red with its relative strength compared to index, indicating the stock is moving strongly against market trend.

When the index and the custom stock are moving in same direction, indicator remains neutral, indicating the stock is aligned with the market trend.
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.

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