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Relativestrength

ElearnMarkets CRSHi Everyone, How it works? 1. With this indicator you can compare any other symbol of index/security with selected symbol. 2. You can compare with three different Indices/symbols. 3. Also you can keep different timeframe to compare with the current symbol. 4. No need to add multiple indicators for same purpose. Feel free to suggest any changes to the indicator. I hope this indicatory could help you achieve what you expect. Thanks, Yogesh
Pine Script™ indicator
by yogeshjc1
4
Relative CandleThis script visualizes the relative movement of a single OHLC candle compared to an index (or another symbol). The vertical location of the candle indicates the general positive/negative comparison of the bar vs the index. The color of the candle indicates how the candle moved relative to the index. The wick indicates the closing range compared to the index (did the symbol close at lows of the bar while the index closed at highs). The area graph in the background shows the average relative close over a 10-day simple moving average. I use this to pop any behavior that is out of line with the market, whether positive or negative. For example, is a red bar day due to the market pullback or something specific to the stock. Or did the market pull back and the stock did the opposite, strong day!
Editors' picks
Pine Script™ indicator
by drewby4321
17
Relative Strength(RSMK) + Perks - Markos KatsanosIf you are desperately looking for a novel RSI, this isn't that. This is another lesser known novel species of indicator. Hot off the press, in multiple stunning color schemes, I present my version of "Relative Strength (RSMK)" employing PSv4.0, originally formulated by Markos Katsanos for TASC - March 2020 Traders Tips. This indicator is used to compare performance of an asset to a market index of your choosing. I included the S&P 500 index along side the Dow Jones and the NASDAQ indices selectively by an input() in "Settings". You may comparatively analyze other global market indices by adapting the code, if you are skilled enough in Pine to do so. With this contribution to the Tradingview community, also included is MY twin algorithmic formulation of "Comparative Relative Strength" as a supplementary companion indicator. They are eerily similar, so I decided to include it. You may easily disable my algorithm within the indicator "Settings". I do hope you may find both of them useful. Configurations are displayed above in multiple scenarios that should be suitable for most traders. As always, I have included advanced Pine programming techniques that conform to proper "Pine Etiquette". For those of you who are newcomers to Pine Script, this script may also help you understand advanced programming techniques in Pine and how they may be utilized in a most effective manner. Utilizing the "Power of Pine", I included the maximum amount of features I could surmise in an ultra small yet powerful package, being less than a 60 line implementation at initial release. Unfortunately, there are so many Pine mastery techniques included, I don't have time to write about all of them. I will have to let you discover them for yourself, excluding the following Pine "Tricks and Tips" described next. Of notable mention with this release, I have "overwritten" the Pine built-in function ema(). You may overwrite other built-in functions too. If you weren't aware of this Pine capability, you now know! Just heed caution when doing so to ensure your replacement algorithms are 100% sound. My ema() will also accept a floating point number for the period having ultimate adjustability. Yep, you heard all of that properly. Pine is becoming more impressive than `impressive` was originally thought of... Features List Includes: Dark Background - Easily disabled in indicator Settings->Style for "Light" charts or with Pine commenting AND much, much more... You have the source! The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
Editors' picks
Pine Script™ indicator
by ImmortalFreedom
17
(JS) Ultimate RSISo my goal here was to combine all of my RSI ideas into a single indicator in order to make kind of a "Swiss Army Knife" version of the Relative Strength Index ... ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ So, let's begin with the first RSI indicator I made, which is the RSIDVW (Divergence/Volume Weighted); To rephrase my original post, the "divergence/volume weighted" portion is meant to expand upon the current RSI format by adding more variables into the equation. The standard RSI is based off one value that you select (open, close, OHLC4, HLC3, etc.) while this version takes three variables into account. The default setting is to have RSI normal without anything added to it (Divergence Weight = 0) 1st - it takes the standard variable that RSI normally uses. 2nd - it factors RSI divergence by taking the RSI change % and price change % to form a ratio. Using this ratio, I duplicated the RSI formula and created a divergence RS to be factored in with the standard price RS . 3rd - it takes Relative Volume and amplifies/weakens the move based upon volume confirmation. (So if Relative Volume for a price bar is 1.0, the RSI plot would be the same as it normally would) So to explain the parameters - Relative Volume Length: This uses the RV length you specify to determine spikes in volume (or lack of volume ), which then is added into the formula to influence the strength of the RSI move - RV x Divergence: This is how I calculated the original formula, but you can leave this unchecked to turn Relative Volume off, or apply elsewhere. - RV x RS: There's two sides, Divergence RS and Standard RS - these check marks allow you to select which part you prefer to be multiplied by Relative Volume . Checking neither turns off Relative Volume , while checking both amplifies its effects by placing it on both sides of the equation. -Divergence Weight: This controls how much the DVW portion of the formula influences the RSI plot. As I referred to earlier, default is 0 making RSI normal. The Scale is 0-2, so 1.0 would be the same as 50%. When I do have DVW on, I generally set it to 0.5 -SMA Divergence: To smooth, or not to smooth, that is the question. UJsing an SMA here is much smoother in my opinon, but leaving it unchecked runs it through an RMA the same way standard RSI is calculated. -Show Fractal Channel: This allows you to see the whole fractal channel around the RSI (This portion of the code, compliments of the original Ricardo Santos fractal script) ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ The next portion of the script is adding a "Slow RSI"... This is rather simple really, it allows you to add a second RSI plot so that you can watch for crossovers between fast and slow lines. -Slow RSI: This turns on the second RSI Plot. -Slow RSI Length: This determines the length of the second RSI Plot. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Pivot Point RSI was something a friend of mine requested I make which turned out pretty cool, I thought... It is also available in this indicator. -Pivot Points: Selecting this enables the rest of the pivot point related parts of the script If Pivot Points isn't selected, none of the following things will work -Plot Pivot: Plots the pivot point . -Plot S1/R1: Plots S1/R1. -Plot S2/R2: Plots S2/R2. -Plot S3/R3: Plots S3/R3. -Plot S4/R4: Plots S4/R4. -Plot S5/R5: Plots S5/R5. -Plot Halfway Points: Plots a line between each pivot . -Show Pivot Labels: Shows the proper label for each pivot . When using intraday charts, from a 15 minute interval or less the pivots are calculated based on a single days worth of price action, above that the distance expands. Here are the current resolutions Pivot Points will work with: Minutes - 1 , 2, 3, 5, 10, 13, 15, 20, 30, 39, 78, 130, 195 Hours - 1, 2, 3, 4, 5, 6 Daily Weekly Currently not available on seconds or monthly ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Background Colors Background Colors: I have six color schemes I created for this which can be toggled here (they can be edited). Gray Background for Dark Mode: Having this on looks much better when using dark mode on your charts. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Now finally the last portion, Fibonacci Levels -Fibonacci Levels: This is off, by default, which then uses the standard levels on RSI (30-50-70). When turned on, it removes these and marks fib levels from 0.146 through 0.886. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ So the quick rundown: Ultimate RSI contains "divergence/volume weighted" modifications, a slow RSI plot, pivot points , and Fibonacci levels all while auto-plotting divergence and having the trend illustrated in the background colors. RSI has always been my "go to" indicator, so I hope you all enjoy this as much as I do!
Pine Script™ indicator
by J-Streak
7
Price Relative / Relative StrengthThe Price Relative indicator compares the performance of one security to another with a ratio chart. This indicator is also known as the Relative Strength indicator or Relative Strength Comparative. Often, the Price Relative indicator is used to compare the performance of a stock against a benchmark index, S&P 500, BIST:XU100 etc. Chartists can also use the Price Relative to compare the performance of a stock to its sector or industry group. This makes it possible to determine if a stock is leading or lagging its peers. The Price Relative indicator can also be used to find stocks that are holding up better during a broad market decline or showing weakness during a broad market advance. (Source: stockcharts) This also can be used for Trend Identification and Bullish/Bearish Divergences. Good Luck
Pine Script™ indicator
by LonesomeTheBlue
Combo Strategy 123 Reversal & Comparative Relative Strength This is combo strategies for get a cumulative signal. First strategy This System was created from the Book "How I Tripled My Money In The Futures Market" by Ulf Jensen, Page 183. This is reverse type of strategies. The strategy buys at market, if close price is higher than the previous close during 2 days and the meaning of 9-days Stochastic Slow Oscillator is lower than 50. The strategy sells at market, if close price is lower than the previous close price during 2 days and the meaning of 9-days Stochastic Fast Oscillator is higher than 50. Second strategy Comparative Relative Strength Strategy for ES WARNING: - For purpose educate only - This script to change bars colors.
Pine Script™ indicator
by HPotter