Relative Strength Suite [BLC]

6 ore fa

📊 Relative Strength Suite [BLC]
A powerful, all-in-one relative strength toolkit for traders and analysts. Whether you're a trend follower, momentum trader, or sector rotator, this script gives you the flexibility to analyze and screen assets using three distinct RS methodologies—all in one clean interface.

🔍 What It Does
Flexible Relative Strength allows you to compare any asset to a benchmark (like SPX, QQQ , IWM , etc.) using one of four modes:

• 📈 Relative Strength – Classic price ratio comparison
  
• 📘 Dorsey Relative Strength – Smoothed trend-based RS using EMA
  
• 📒 Mansfield Relative Strength – Momentum-based RS normalized to its own average
  
• 🧮 Screener Mode – Load Indicator into Pine Screener to see all 3 values.
  

🛠️ Key Features & Settings
🧩 Relative Strength

• Comparison Symbol: Select the ticker you want to use as a benchmark.
  
• Highlights new highs/lows in Relative Strength with dynamic line coloring:
  
• 🟢 Green = New high (outperformance)
  
• 🔴 Red = New low (underperformance)
  
• Optional moving average overlay (SMA, EMA, WMA, HMA) for trend smoothing.
  

✅ Use Case: Identify when a stock is gaining strength relative to the market or sector.

📘 2. Dorsey RS (Smoothed Trend)

• Uses an EMA of the RS ratio to smooth out noise.
  
• Rising Dorsey RS = consistent outperformance.
  
• Falling Dorsey RS = consistent underperformance.
  

✅ Use Case: Spot long-term relative trends regardless of price volatility.

📒 3. Mansfield RS (Performance Momentum)

• Compares RS ratio to its own long-term SMA (default 200).
  
• Values above 0 = outperforming the benchmark.
  
• Values below 0 = underperforming.
  

✅ Use Case: Ideal for momentum traders and Stan Weinstein-style stage analysis.

🧮 4. Screener Mode
Not for use on your chart. This is only to use in TradingView's Pine Screener.
Displays all three RS lines simultaneously.
Includes all 3 modes to act as screener signals

🛠️How to Use Screener Mode

1. Add this indicator to your favorites list.
   
2. Open Pine Screener and select this indicator.
   
3. Select your timeframe.
   
4. Click Settings & Change Strength Type to Screener > Click Apply
   
5. Hit Scan!
   

• New High Low Signal: Finds stocks making a new RS high (1) or low (-1) over your lookback period.
  
• Dorsey Trend Signal: Finds stocks where the smoothed RS trend is rising (1) or falling (-1).
  
• Mansfield Zone Signal: Finds stocks where momentum is in the positive zone (1) or negative zone (-1)
  

✅ Use Case: Quickly scan multiple assets for relative strength breakouts, trend shifts, or momentum zones.

🧪 Pro Tip

• Combine this indicator with volume, price structure, or moving averages to confirm breakouts and trend strength. Use Screener Mode on a watchlist to identify top RS candidates in seconds.
  
• To clean up your screener table, click the column settings icon ( ⋮ ) and uncheck any columns you don't need to see. You can still filter by them even if they are hidden.
  

📝 Credits & Notes

• Inspired by classic RS methods (including Dorsey and Mansfield).
  
• Final, production-ready version with tooltips, labels, and screener outputs.
  
• For educational and informational purposes—always test before live trading!
  

Let me know if you see any bugs, miscalculations, or any features you'd like to see added to it!

3 ore fa

Note di rilascio

📊 Relative Strength Suite [BLC]
A powerful, all-in-one relative strength toolkit for traders and analysts. Whether you're a trend follower, momentum trader, or sector rotator, this script gives you the flexibility to analyze and screen assets using three distinct RS methodologies—all in one clean interface.

🔍 What It Does
Flexible Relative Strength allows you to compare any asset to a benchmark (like SPX, QQQ , IWM , etc.) using one of four modes:

• 📈 Z-Score Normalized – Combines Rate of Change (ROC) of the RS ration to capture momentum, and Rolling Relative Strength - to measure recent outperformance vs. the benchmark.
  
• 📘 Dorsey Relative Strength – Smoothed trend-based RS using EMA
  
• 📒 Mansfield Relative Strength – Momentum-based RS normalized to its own average
  
• 🧮 Screener Mode – Load Indicator into Pine Screener to see all 3 values.
  

🛠️ Key Features & Settings

• 🧩 Z-Score Normalized
  
• Comparison Symbol: Select the ticker you want to use as a benchmark. SPX is the default
  
• Highlights new highs/lows in Relative Strength with dynamic line coloring:
  
• 🟢 Green = New high (outperformance)
  
• 🔴 Red = New low (underperformance)
  
• Optional moving average overlay (SMA, EMA, WMA, HMA) for trend smoothing.
  

✅ Use Case: Spot leaders with accelerating strength — not just outperformers, but momentum-driven outperformers.

📘 2. Dorsey RS (Smoothed Trend)

• This is regular Relative Strength * 100 to display as a whole number.
  
• Uses an EMA of the RS ratio to smooth out noise.
  
• Rising Dorsey RS = consistent outperformance.
  
• Falling Dorsey RS = consistent underperformance.
  

✅ Use Case: Spot long-term relative trends regardless of price volatility.

📒 3. Mansfield RS (Performance Momentum)

• Compares RS ratio to its own long-term SMA (default 200).
  
• Values above 0 = outperforming the benchmark.
  
• Values below 0 = underperforming.
  

✅ Use Case: Ideal for momentum traders and Stan Weinstein-style stage analysis.

🧮 4. Screener Mode

• Not for use on your chart. This is only to use in TradingView's Pine Screener.
  
• Displays all three RS lines simultaneously.
  
• Includes all 3 modes to act as screener signals
  

🛠️How to Use Screener Mode

• Add this indicator to your favorites list.
  
• Open Pine Screener and select this indicator.
  
• Select your timeframe.
  
• Click Settings & Change Strength Type to Screener > Click Apply > Hit Scan!

New High Low Signal: Finds stocks making a new RS high (1) or low (-1) over your lookback period.
Dorsey Trend Signal: Finds stocks where the smoothed RS trend is rising (1) or falling (-1).
Mansfield Zone Signal: Finds stocks where momentum is in the positive zone (1) or negative zone (-1)


✅ Use Case: Quickly scan multiple assets for relative strength breakouts, trend shifts, or momentum zones.

🧪 Pro Tip
Combine this indicator with volume, price structure, or moving averages to confirm breakouts and trend strength. Use Screener Mode on a watchlist to identify top RS candidates in seconds.
To clean up your screener table, click the column settings icon ( ⋮ ) and uncheck any columns you don't need to see. You can still filter by them even if they are hidden.


📝 Credits & Notes
Inspired by classic RS methods (including Dorsey and Mansfield).
Final, production-ready version with tooltips, labels, and screener outputs.
For educational and informational purposes—always test before live trading!


Let me know if you see any bugs, miscalculations, or any features you'd like to see added to it!