Sector/Market Relative Strength

Sector/Market Relative Strength Indicator (SMRS) shows in one layout the relative strength of an asset against it's Sector and Market.
By default smoothed by EMA, however EMA can be disabled to see spot on strength with 'Relative Strength steps back' set to 1.

This indicator is at experimental stage and might be updated soon.

Green column: Base asset is stronger than market/sector.
Red Column: Base asset is weaker than than market/sector.
Bottom line (squares): Green- Sector is stronger than market. Red- Sector is weaker than market. Affected only by Sector and Market symbols that are defined in indicator settings!

Notes
-------
* Useful only with securities (not forex, cryptocurrencies,etc..)
* Market and sectors needs to be defined in indicator settings.

For any suggestion/comment write me.

Release Notes

Added "XLC Communication"
Minor cleanup.

Release Notes

Screenshot update.

Release Notes

Added Real Estate sector.
Minor code optimization.

Protected script

This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.

dman103

Appreciation of my work: paypal.me/dman103
All Premium indicators: algo.win
LIVE Stream - Pivot Points Algo: youtube.com/channel/UCFyqab-i0xb2jf-c18ufH0A/live

Also on:

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.