OPEN-SOURCE SCRIPT
Relative Strength Overlay
This is the original script to my other Relative Strength indicator (link below) It provides a graphical overlay of the Relative Strength, compared to the QLD, a Nasdaq x2 ETF.
You can not use the value to compare to other stocks or securities, as it is scaled based on the price (so it can be used as an overlay).
If you want a value which you can use to compare with other stocks, please see my other Relative Strength indicator.
You can not use the value to compare to other stocks or securities, as it is scaled based on the price (so it can be used as an overlay).
If you want a value which you can use to compare with other stocks, please see my other Relative Strength indicator.
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.
Want to use this script on a chart?
Disclaimer
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