OPEN-SOURCE SCRIPT
Relative Strength
Updated
Relative Strength show the quotient (ratio) between a numerator (Your Security) and a common denominator (SPX, BTC, ...).
I inspired myself from already established indicators. But I've made my own because I had some issues with others.
Sometimes the moving average weren't fixed but where floating through the window.
Sometimes the colors (Up, Down) were inaccurate because the compiler didn't notice infinitesimal changes (0.0001 > 0.0002)
Thanks.
(The Relative Strength indicator is at the top of the chart.)
I inspired myself from already established indicators. But I've made my own because I had some issues with others.
Sometimes the moving average weren't fixed but where floating through the window.
Sometimes the colors (Up, Down) were inaccurate because the compiler didn't notice infinitesimal changes (0.0001 > 0.0002)
Thanks.
(The Relative Strength indicator is at the top of the chart.)
Release Notes
Added colors on SMA: If RS > SMA then green, else Red.Fixed some other stuffs: Symbol template for ticker input...
Release Notes
The moving average is colored based on its own slope.Can be displayed or not.
Release Notes
Added color customization, Added color for Relative Strength All Time High.
Release Notes
Possible to color based on X previous highs instead of all time high only. If the lookback value is set to 0 then it looks for ATH;
Else it will look for the input, previous highs.
Modified for Tronsom
Release Notes
NAOpen-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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