Volume Weighted Real Relative Strength (RS/RW)

Volume Weighted Real Relative Strength (VRRS) measures the relative strength of a tickers vs. a benchmark ticker for the market, i.e. , and a benchmark ticker for the sector it is in. The calculation of VRRS is done as follow:

VRRS = [ ( Close - smaClose) / smaClose - ( RefClose - RefsmaClose) / RefsmaClose ] * VolWeighted * 100

Where:
Close is Close price
smaClose is the last simple moving average value.
Ref is Reference ticker
VolWeighted is the volume weighted factor and is defined as (smaVol_short / smaVol_long); where smaVol_short, smaVol_long are the simple moving average of volume calculated for a short period (i.e. 21 period) and long period (i.e. 5 days), respectively.

Feature:
1. It can show two VRRS, one calculated against a market benchmark (i.e. ) and one for a sector benchmark.
2. It shows also the bar plot of the benchmark ticker.

Note di rilascio

This update:
- Updating default value
- Cleaning the code
- Using better default color

In previous description, the formula was cutoff. It should be read
VRRS = ( (Close - smaClose)/smaClose - (RefClose - RefsmaClose)/RefsmaClose ) * VolWeighted * 100

Note di rilascio

Fix bug for accurate reference plotting

Note di rilascio

This update includes

Fix bug on displaying SPY intra day change
Add change rate of VRRS. This measure the rate at which the VRRS changes from bar to bar. It is calculated by using linear regression of the last number of bar (set by user). The Certainty measures how good this calculation is. 100% means completely linearly growth.
Select sector automatically for sector VRRS

Note di rilascio

Add option to disable/enable Auto Sector Selection

Note di rilascio

Volume Weighted is now optional
Faster loading

Note di rilascio

Add comment

Note di rilascio

Fix typo

Note di rilascio

Improve loading time

Note di rilascio

The automatic option to select sector reference causes about 5-10 second delay on the first load. I am still trying to find solution for it. If user does not want this option and want to do manual sector selection (much faster), please do the following

Comment out line 130 (add // at the beginning of the line)
Uncomment out lines 132 and 133 (remove // at the beginning of the lines)
Save the code (Ctrl + S)

Script open-source

In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.

Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.

dealsatm

Declinazione di responsabilità

Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.

Script open-source

Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.

dealsatm