bharatTrader

Near & Far Relative Strength

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Define a near time frame base and a far time frame base to compare the selected symbol RS . This helps in situations were you could keep the far RS length to a fixed value and the near RS length to a more recent "event" in the market and it's subsequent movement.
For example, if the market index has made a recovery from a deep crash 80 sessions ago, set the near RS length to 80 and keep the far RS length to a fixed value say, 123 corresponding to 6 months. This will help you gauge the historical vs the recovery strength of your interested symbol before and after the "event".
Release Notes: Added input source for comparison with other source values.
Release Notes:
  • Added reference label dates
  • Increased line widths of plots
  • Changed default values of near and far RS length
Release Notes:
  • Added toggle color option on crossovers
  • Fixed bug on label display, even when plot option was disabled

Though there is option added to show color toggle, in a dual RS plot it can become very intimidating to get a clear view when both the RS whipsaw near the zero line. Therefore the option is turned off by default. When enabled, it is recommended to disable one of the plots to get the best effect.
Release Notes:
  • Plots sequence aligned with input sequence for better clarity in summary info.
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