OPEN-SOURCE SCRIPT
Current RSI vs Sector RSI Comparison
In the example above GOOGL's RSI is being compared against the RSI for XLK, the technology sector fund. The red and green areas make it easy to see if Google is under or overperforming relative to other tech stocks. I've included a normal RSI above it for comparison.
You can compare any stock to a sector, i.e. JP Morgan (JPM) versus the financial sector (XLF), or whatever your heart desires. All major sectors are selectable from a drop-down box and the output can also be visualised as a histogram too, much like a MACD.
You can compare any stock to a sector, i.e. JP Morgan (JPM) versus the financial sector (XLF), or whatever your heart desires. All major sectors are selectable from a drop-down box and the output can also be visualised as a histogram too, much like a MACD.
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 publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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