OPEN-SOURCE SCRIPT
RRG Relative Strength

# RRG Relative Strength (RRG RS)
Compare any symbol to a benchmark using two RRG-style lines: **RS-Ratio** (trend of relative strength) and **RS-Momentum** (momentum of that trend). Both are centered at **100**:
- **RS-Ratio > 100** → outperforming the benchmark
- **RS-Ratio < 100** → underperforming
- **RS-Momentum** often **leads** RS-Ratio (crosses 100 earlier)
# How it works
1) Relative Strength (RS): RS = Close(symbol) / Close(benchmark)
2) Normalize around 100: smooth RS with EMA and divide RS by that EMA
3) RS-Ratio: EMA( RS / EMA(RS, Length), LenSmooth ) * 100
4) RS-Momentum: RS-Ratio / EMA(RS-Ratio, LenSmooth) * 100
# Inputs
- Length (default 14): normalization window for RS
- Length Smooth (default 20): smoothing window for RS-Ratio & RS-Momentum
# Benchmark (auto)
- US: SP:SPX (S&P 500)
- Vietnam: HOSE:VNINDEX
- Crypto: INDEX:BTCUSD
(Modify the mapping if needed, or replace with your own input.symbol().)
# How to read
- Improving: RS-Momentum crosses above 100 while RS-Ratio turns up
- Leading: RS-Ratio > 100 with RS-Momentum ≥ 100
- Weakening: RS-Momentum drops below 100; RS-Ratio often follows
# Timeframes & presets
- Works on Daily and Weekly charts
- Daily (fast): 14 / 20
- Approx. weekly behavior on Daily: 50 / 60
Note: Values usually hover near 100 (e.g., ~90–110) but are not strictly bounded. Ensure your symbol and benchmark trade in comparable sessions/currencies.
Compare any symbol to a benchmark using two RRG-style lines: **RS-Ratio** (trend of relative strength) and **RS-Momentum** (momentum of that trend). Both are centered at **100**:
- **RS-Ratio > 100** → outperforming the benchmark
- **RS-Ratio < 100** → underperforming
- **RS-Momentum** often **leads** RS-Ratio (crosses 100 earlier)
# How it works
1) Relative Strength (RS): RS = Close(symbol) / Close(benchmark)
2) Normalize around 100: smooth RS with EMA and divide RS by that EMA
3) RS-Ratio: EMA( RS / EMA(RS, Length), LenSmooth ) * 100
4) RS-Momentum: RS-Ratio / EMA(RS-Ratio, LenSmooth) * 100
# Inputs
- Length (default 14): normalization window for RS
- Length Smooth (default 20): smoothing window for RS-Ratio & RS-Momentum
# Benchmark (auto)
- US: SP:SPX (S&P 500)
- Vietnam: HOSE:VNINDEX
- Crypto: INDEX:BTCUSD
(Modify the mapping if needed, or replace with your own input.symbol().)
# How to read
- Improving: RS-Momentum crosses above 100 while RS-Ratio turns up
- Leading: RS-Ratio > 100 with RS-Momentum ≥ 100
- Weakening: RS-Momentum drops below 100; RS-Ratio often follows
# Timeframes & presets
- Works on Daily and Weekly charts
- Daily (fast): 14 / 20
- Approx. weekly behavior on Daily: 50 / 60
Note: Values usually hover near 100 (e.g., ~90–110) but are not strictly bounded. Ensure your symbol and benchmark trade in comparable sessions/currencies.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.