PROTECTED SOURCE SCRIPT
Relative Outperformance vs SPX (Pro Daily)
Find true market leaders before the breakout.
This indicator measures a stock’s percentage outperformance versus the S&P 500 (SPX) across multiple daily timeframes (5, 20, 50, 200) and combines them into a weighted Relative Strength (RS) Score.
Unlike simple ratio indicators, this tool shows:
📊 Multi-period relative performance (%)
⭐ Weighted RS Score
🚦 Early Leader signal (20D + 50D strength)
🏆 Confirmed Leader signal (adds 200D trend)
📋 Clean dashboard panel for fast decision-making
Why This Matters
Strong stocks outperform the index before they break out.
This tool helps you:
Identify emerging leadership
Confirm institutional sponsorship
Avoid weak relative names
Improve breakout and pullback selection
Green values = outperforming SPX
Red values = underperforming SPX
Designed specifically for daily swing trading and position trading.
Best Used With
Breakout strategies
Pullbacks to moving averages
Undercut & Rally setups
Relative volume confirmation
Market rotation strategies
Suggested Daily Settings
5 / 20 / 50 / 200
Weights: 0.20 / 0.35 / 0.35 / 0.10
Smoothing: 3
Disclaimer
Educational purposes only.
Not financial advice.
Past performance does not guarantee future results.
This indicator measures a stock’s percentage outperformance versus the S&P 500 (SPX) across multiple daily timeframes (5, 20, 50, 200) and combines them into a weighted Relative Strength (RS) Score.
Unlike simple ratio indicators, this tool shows:
📊 Multi-period relative performance (%)
⭐ Weighted RS Score
🚦 Early Leader signal (20D + 50D strength)
🏆 Confirmed Leader signal (adds 200D trend)
📋 Clean dashboard panel for fast decision-making
Why This Matters
Strong stocks outperform the index before they break out.
This tool helps you:
Identify emerging leadership
Confirm institutional sponsorship
Avoid weak relative names
Improve breakout and pullback selection
Green values = outperforming SPX
Red values = underperforming SPX
Designed specifically for daily swing trading and position trading.
Best Used With
Breakout strategies
Pullbacks to moving averages
Undercut & Rally setups
Relative volume confirmation
Market rotation strategies
Suggested Daily Settings
5 / 20 / 50 / 200
Weights: 0.20 / 0.35 / 0.35 / 0.10
Smoothing: 3
Disclaimer
Educational purposes only.
Not financial advice.
Past performance does not guarantee future results.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarle liberamente e senza alcuna limitazione – ulteriori informazioni qui.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarle liberamente e senza alcuna limitazione – ulteriori informazioni qui.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.