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Relative Strength Index 2x maThe relative strength index, represented as two moving averages with periods, one of which will be a multiple of the longer moving average by the amount you set. The indicator can work both in automatic and manual mode. In automatic mode, the optimal periods are selected, in my opinion, depending on which timeframe is being analyzed at the current moment. In manual mode, you can set the required period yourself. You can also set the method of smoothing the moving averages yourself and apply them to the opening or closing, the minimum of the bar, etc. An important point: it is possible to enable/disable graphical functions that may not be required - just check the box next to the function that you want to see on your indicator. Show ConDiv? - enabling / disabling the convergence/divergence function of the moving averages of the RSI indicator (not to be confused with the MACD for the asset price chart) Show ma? - enabling/disabling the graphical display of the moving averages of the RSI indicator Show RSI? - enabling / disabling the standard RSI indicator (if you want to see only it, check the box opposite; in this case, you need to remove the other two checkboxes) I wish you good luck in building your trading plans, and remember: such indicators do not predict the future price movement on the chart, they only determine the characteristics of the price movement at the current time, taking into account historical data.
Indicatore Pine Script®
di Best_Solve
3
Relative Strength Index & Stochastic RSIThis script calculates both RSI (Relative Strength Index) and Stock (Stochastic) RSI Indicators, and plots them with a distinctive background on the same graph. The colors were chosen to be very easy on the eyes. I published it as a way to give back to this community. Use your own judgement when trading, I am not responsible for any losses resulting from the use of my script. Feel free to modify the script with no attribution.
Indicatore Pine Script®
di mofessional
Multi Period Relative StrengthMulti Period Relative Strength Indicator This indicator is meticulously designed around the fundamental concept of relative strength, providing a powerful tool to assess an instrument's performance against peers or a benchmark index within the same asset class. Tailored for short-term swing trend analysis, it equips traders with the insights needed to make informed decisions based on prevailing relative strength dynamics. More about Relative Strength: www.investopedia.com Key Features: Dual Period Analysis: The indicator conducts a dual-period analysis, scrutinizing relative strength across two distinct period—a fast period and a slow period. This approach allows for a comprehensive evaluation of relative strength dynamics. Visualization: Slow RS is visually depicted as a green cloud above the zero line showing relative strength or a red cloud below it showing relative weakness. This visual representation aids in assessing the underlying instrument's performance against its peer over the past 3 months (slow period). Fast RS is visually presented as green bars above the zero line showing relative strength or red bars below it showing weakness. This visual cue helps evaluate the performance of the underlying instrument against its peer over the last week (fast period). Positive Relative Strength: When both the fast and slow periods exhibit positive values, it signifies sustained strength in the current instrument over both the past 3 months and the last week. Divergence Evaluation: A positive fast period coupled with a negative slow period signals a robust relative strength trend over the past 3 months, but with a recent decline in the last week. Traders may consider adjusting positions, such as reducing or exiting, in response to this divergence. Strength Building Scenario: Conversely, a negative fast period paired with a positive slow period indicates relative weakness over the past 3 months, coupled with an increasing trend in the last week. This scenario may present an opportunity to gradually build positions, particularly if the 3-month relative strength turns positive. Strategic Decision Points: Traders can leverage these signals strategically to manage portfolios, adjusting positions based on the nuanced interplay between short-term and longer-term relative strength trends. Risk Mitigation Strategies: By interpreting the indicator signals, traders can implement effective risk mitigation strategies, including position downsizing, exits, gradual position building, or short covering. These actions align with the prevailing relative strength dynamics. In summary, the Multi Period Relative Strength Indicator offers a nuanced and actionable perspective on an instrument's relative strength. By examining both short-term and 3-month trends, traders can make well-informed decisions to optimize their trading strategies and portfolio management.
Indicatore Pine Script®
di kuldeepsm
Saral Relative StrengthRelative Strength Indicator ### Overview The Relative Strength (RS) Indicator is a robust tool designed to measure the performance of a security relative to a benchmark or another security. Unlike traditional indicators, this RS Indicator calculates the outperformance or underperformance in percentage terms, providing a clear and concise comparison. The equation for calculation can be found in the code itself. This equation compares how much a security's price has changed over a given period (len) relative to the change in price of a benchmark over the same period. The result is expressed as a percentage, showing whether the security has outperformed or underperformed the benchmark. A positive RS value indicates outperformance, while a negative value signals underperformance. Basically, this indicator is an enhanced version of 'Relative Strength' indicator of 'BharatTrader' Sir with added features like automatic divergence plotting, color-coded filled area and sector names for NSE F&O securities. Default values for some of the parameters are based on discussion by Subhadip Nandy Sir in Trader's Talk with Mr. Rohit Katwal. ### Input Parameters: Source: The price of a security used in the calculation, with the default being the 'close' price. Comparative Symbol: Ticker ID of the comparative security, with the default set to NIFTY 50. Period-RS: The period for calculating the RS line, with a default of 22. The RS line measures the relative performance of the security against the benchmark, helping to identify outperformance or underperformance over time. Period-MA: The period for calculating the Simple Moving Average (SMA) overlay on the RS line, with a default of 11. The SMA provides a smoothed view of the RS line, helping to identify trends more clearly. Lookback - Zero Line Trend: Zero Line Trend look-back period, used to determine the angle of the RS line, with a default of 5. This parameter influences the color of the Zero Line based on whether the RS line’s angle is positive or negative. Lookback - Divergence: Divergence look-back period, with a default of 2, used to detect divergence between the price and the RS line. Display MA Line: Controls the display of the SMA line. When enabled, the SMA line is plotted over the RS line to indicate trend strength. Toggle RS Color on MA Crossovers: Controls the color of the RS line. If disabled, the RS line is purple. If enabled, the RS line changes color based on its position relative to the SMA: green for RS > MA, red for RS < MA. Display Zero Line Trend: Controls the display of the Zero Line. If disabled, the Zero Line is black. If enabled, the Zero Line’s color changes to green or maroon based on the RS line’s angle over time. Display Divergence: Controls the display of divergence dots on the RS line, indicating potential reversal points. Display Filled Area: Controls whether the area between the Zero Line and the RS line is filled with color. The fill color changes based on the relationship of the RS line with the SMA & Zero Line as given below. - Dark Green: RS > 0 and RS > MA, indicating strong outperformance. - Light Green: RS > 0 and RS < MA, indicating weakening outperformance. - Dark Red: RS < 0 and RS < MA, indicating strong underperformance. - Light Red: RS < 0 and RS > MA, indicating weakening underperformance. Display Sector Name: Controls the display of sector names for NSE F&O securities, helping to plot RS with sectoral indices. ### Key Features: RS Line: The RS line represents the relative performance of a security against a benchmark over a specified period (default 22). It helps traders identify whether the security is outperforming or underperforming the benchmark. SMA Overlay: A Simple Moving Average (SMA) line is plotted over the RS line, with a default period of 11. The SMA provides a smoothed trend of the RS, making it easier to identify consistent performance trends. Trend-Sensitive Zero Line: The Zero Line’s color adapts based on the RS line’s trend: - Green: Positive angle of the RS line, indicating upward momentum. - Maroon: Negative angle, indicating downward momentum. The color can be toggled, with an option to display the Zero Line in black. Divergence Detection: Automatically detects and highlights divergences. - Positive Divergence: RS line rises while the price falls, marked by blue dots. - Negative Divergence: RS line falls while the price rises, marked by black dots. Color-Coded Fill Area: The area between the RS line and the Zero Line is filled with color to visually distinguish different market conditions, with Dark and Light colors providing insight into the strength of the performance: - Dark Green: Indicates strong outperformance (RS > 0 and RS > MA), suggesting the security is showing significant strength compared to the benchmark. - Light Green: Indicates weakening outperformance (RS > 0 and RS < MA), signaling that while the security is still outperforming, its strength is diminishing. - Dark Red: Indicates strong underperformance (RS < 0 and RS < MA), showing the security is significantly weaker than the benchmark. - Light Red: Indicates weakening underperformance (RS < 0 and RS > MA), suggesting the security is still underperforming but may be regaining some strength. Sectoral Strength: Displays sector names for NSE F&O securities, helping users to compare the RS of individual securities with their respective sectoral indices. Comparative Security can be changed easily based on this sector name. Users need not to remember sector names for individual securities. If any security is not categorized in a specific sector, CNX500 has been considered as a default sector for NSE F&O securities. For other securities, NIFTY50 has been considered as a default sector.
Indicatore Pine Script®
di bharat1911
RedK Relative Strength Ribbon: RS Ribbon and RS ChartsRedK Relative Strength Ribbon (RedK RS_Ribbon) is TA tool that plots the Relative Strength of the current chart symbol against another symbol, or an index of choice. It enables us to see when a stock is gaining strength (or weakness) relative to (an index that represents) the market, and when it hits new highs or lows of that relative strength, which may lead to better trading decisions. I searched TV for existing RS indicators but didn't find what I really wanted, so I put this together and added some additional features for my own use. It started as a simple RS line with new x-weeks Hi/Lo markers, then evolved into what you see here in v1.0 with the ability to plot a full RS chart in regular or HA candle types. Hope this will be useful to some other growth traders here on TV. What is Relative Strength (RS) ------------------------------------ (RS is a comprehensive concept in TA, below is a quick summary - please research further if it's not already a familiar topic) Relative Strength (RS) is a technical concept / indicator used mainly by growth / swing / momentum traders to compare the performance of one security or asset against another. RS measures the price performance of a specific security relative to a benchmark, such as an index or another asset. It's not to be confused with the famous Relative Strength Index (RSI) technical indicator For example, In the context of comparing a stock's relative strength to the SPY (S&P 500) index, the relative strength calculation involves dividing the stock's price or price-related value (e.g., close price) by the corresponding value of the SPY index. The resulting ratio (and its trend over time) indicates the relative performance of the stock compared to the index. Traders and investors use relative strength analysis to identify securities that have been showing relative strength or weakness compared to a benchmark, which can help in making investment decisions or identifying the "market leaders" and potential trading opportunities. There are so many books and documentation about the RS concept and its importance to identify market leaders, especially when recovering from a bear market - if you're interested in the concept, please search more about it and review some of that literature. There's also a more detailed definition of Relative Strength in this article on Invstopedia RedK RS_Ribbon features and options --------------------------------------------------- The indicator settings provide many options and features - see the settings box below - Change / choose base symbol The default is to use SPY as the base symbol - so we're comparing the chart's symbol to a proxy of the S&P 500 - Some traders may prefer to use the QQQ - or other index or ETF that acts as a proxy for the industry / sector / market they are trading - RS Calculation / RS line we use the simple form of the RS calculation, RS = closing price of current chart symbol / closing price of the base symbol (default is SPY) * 100 some RS documentation will use the Rate of Change (RoC) - but that's not what we're using here. - The RS_Ribbon * Once the RS line is plotted, it made sense to add couple of moving averages to it, to make it easier to observe the trend of the RS and the changes in that trend as you can see in the sample chart on top. * The RS_Ribbon is made up of a fast and slow moving averages and will change color (green / red) based on detected trend RS direction - the 2 MA types and lengths can be changed until you get the setup that provides the best view for you of the RS trend over time. My preferred settings are used as defaults here. - Identifying New (x)Week Hi/Lo RS Values * Most traders would be interested when the calculated RS hits a new 52-week high or low value. * There are cases where we may want to see when a new RS Hi/Lo has been hit for a different period - for example, a quarter (13 weeks) * the number of weeks can be changed as well as adjusting the numbers of trading days per week (if needed for certain symbols/exchanges) - Working with Different Timeframes * Now these "markers" will only be available in the daily and weekly timeframes and there is a good reason for that, it's not the fact that i'm lazy :) and that enabling this in timeframes lower than 1D would have been some heavy lifting, but the reality is that with RS, we're really interested if a "day's close" hits a new RS high or low value against the moving window of x weeks (and the weeks close also) - if you think of this more, at lower TF, RS can hit a lower value that never end up registering on the daily closing and that causes a lot of visual confusion. So i took the "cleaner way out" of that issue. * note that you can choose a different timeframe for the RS_Ribbon than the chart - if you do, please make sure the chart is at a lower timeframe than the indicator's - (and in that case remember to hide the candles because they won't make much sense) i wanted to leverage TV's built-in multi-Timeframe (MTF) support with the caveat that using the indicator at lower TF with a chart at a higher TF (example chart at 1Wk and indicator at 1D) will show inaccurate results. If this sounds confusing, keep the indicator TF same as the chart. the example here shows a 2-Hr chart against 1D RS_Ribbon - Using RS Charts and RS Candles * Beside the ability to plot the RS "closing" value with the RS line, the indicator provides the ability to show a "full" RS Chart with candles that represent the relative values of open, high, low. and close against the base symbol. * the RS Charts can be used for regular chart analysis, for example, we can identify common chart patterns like Cup & Handle, VCP, Head & Shoulder..etc using these charts .. which can provide some edge over the price charts * for the Heikin Ashi fans, I added the ability to choose classic or HA candles for the chart. note you have to enable the option to show the RS candles first before you choose the option to switch to HA. The chart below shows a side-by-side comparison on the 2 RS chart types Closing remarks ----------------------- * RS is a good way to identify market/sector leaders (who will usually recover from a bear market before others) - and enable us to see the strength that comes from the broader makrket versus the one that comes from the stock's own performance and identify good trading opportunities * I'll continue to update this work and alerts will come in next version - but wanted to check initial reaction and value * as usual, if you decide to use this in your chart analysis, it's necessary to combine with other momentum, trend, ...etc indicators and do not make trading decision only based on the signales from a single indicator
Indicatore Pine Script®
di RedKTrader
19
Adaptive and Static Relative Strength OverlayThis indictor combines adaptive and static relative strengths and displays the strength in a unique colour coding on the bars. With this the one can view the performance of both the relative strengths in one indicator and overlay-ed on the price chart. Adaptive Relative Strength - Date is identified based on market scenarios. It will change based on how the market trends in the future. Static Relative Strength - Date is fixed (123 sessions). Roughly corresponds to 6 months. The (default) colour coding is: If "Both" is selected: ars > 0 and srs > 0 = Blue ars <=0 and srs <= 0 = Maroon Orange otherwise (Any of ars or srs is negative) If "Only ARS" is selected: ars > 0 = Blue Maroon otherwise If "Only SRS" is selected: srs > 0 = Blue Maroon otherwise Additionally the ARS and the SRS will be marked as labels on the bars corresponding to the reference dates. The current ARS and SRS values will be market as label on the last bar. Source can be any valid source, close is selected by default. Default benchmark is "Nifty 50" the NSE Indian benchmark. This can be changed.
Indicatore Pine Script®
di bharatTrader
9
Breakout Detection using EMAs and Mansfield Relative StrengthThis script identifies breakout opportunities based on a combination of price action, volume, and relative strength. It is designed for daily timeframe charts and helps traders pinpoint strong bullish setups with the following criteria: Price Action: Stock price is above both the 10-day EMA and 5-week EMA. EMA Trends: The 10-day EMA is above the 20-day EMA, and the 5-week EMA is above the 10-week EMA, confirming bullish momentum. Customizable Parameters: Customize the index for the Mansfield Relative Strength, the volume multiplier, and the price breakout look-back period. Price Breakout: The price is at a 3-month high, indicating strength. Volume Breakout: A volume spike occurs, surpassing the 20-day average volume by a user-defined multiplier. Features: Generates clear breakout signals with a green triangle below the bar. Integrated Mansfield Relative Strength for relative performance analysis. Alerts for when all conditions are met, ensuring you never miss an opportunity. How to Use: Add this script to a daily chart of your chosen stock. Look for green triangle signals indicating a potential breakout. Adjust the parameters to suit your trading strategy and preferred index for the Mansfield Relative Strength. This tool is ideal for swing traders looking to combine technical analysis with relative strength metrics for high-conviction bullish setups.
Indicatore Pine Script®
di LegalxSeagull
Mansfield Relative Strength (Original Version) by stageanalysisThe Mansfield Relative Strength ( Mansfield RS ) is one of the core components of the Stan Weinstein's Stage Analysis method as discussed in his classic book Stan Weinstein's Secrets for Profiting in Bull and Bear Markets . The Mansfield RS measures the relative performance of the stock compared to an index such as the S&P 500, or to another stock etc. However, this should not to be confused with the popular RSI (Relative Strength Index developed J. Welles Wilder), which is a momentum oscillator that measures the speed and change of price movements on a single stock. The Mansfield RS indicator consists of the Relative Strength comparison line versus the S&P 500 (default universal setting, but can be edited), and the "Zero Line" – which is the 52 week MA of the Relative Strength line, that's been flattened to create the oscillator style. How to use the Indicator: Outperforming – Above the Zero Line When the Relative Strength line crosses above the Zero Line (it's flattened 52 week RS MA), it is outperforming the index or stock that it's comparing against, and so it is showing stronger relative strength. Underperforming – Below the Zero Line When the Relative Strength line crosses below the Zero Line (it's flattened 52 week RS MA), it is underperforming the index or stock that it's comparing against, and so it is showing weaker relative strength. Settings: When you first add the indicator is has a coloured background, with a green tint for a postive RS score, and a red tint for a negative RS score. However, this can be turned off, or edited in the indicator settings, in the Style tab. So you can change the colors or remove it and just have the RS line and zero line showing. Both of which can also be edited in the settings. Change the symbol that it compares against. The default is the S&P 500. But for crypto you might want to use Bitcoin for example. Or you might want to compare against competing stocks in the same peer group, or against the industry group or sector. The choice is yours. But the S&P 500 is a universal measure for the Mansfield RS. So I would recommend leaving it on that unless you have a particular reason to change it as mentioned. MA Length is also an editable setting. This creates the Zero Line. So it will affect the values of the Mansfield RS if you change it. 52 is the default setting, and is set as such for the weekly chart. So I'd recommend not editing it on the weekly chart, but for other timeframes, different settings can be used.
Indicatore Pine Script®
di Stage_Analysis
14
Candle Strength based on Relative Strength of EMAOverview: The EMA-Based Relative Strength Labels indicator provides a dynamic method to visualize the strength of price movements relative to an Exponential Moving Average (EMA). By comparing the current price to the EMA, it assigns labels (A, B, C for bullish and X, Y, Z for bearish) to candles, indicating the intensity of bullish or bearish behavior. Key Features: Dynamic EMA Comparison: The indicator calculates the difference between the current price and the EMA, expressing it as a percentage to determine relative strength. Configurable Thresholds: Users can set custom thresholds for strong, moderate, and low bullish or bearish movements, allowing for tailored analysis based on personal trading strategy or market behavior. Clear Visual Labels: Each candle is labeled directly on the chart, making it easy to spot significant price movements at a glance. Usage: Trend Confirmation: The labels help confirm the prevailing trend's strength, aiding traders in decision-making regarding entry or exit points. Risk Management: By identifying the strength of the price movements, traders can better manage stop-loss placements and avoid potential false breakouts. Strategy Development: Incorporate the indicator into trading systems to enhance strategies that depend on trend strength and momentum. How It Works: The script calculates the EMA of the closing prices and measures the relative strength of each candle to this average. Bullish candles above the EMA and bearish candles below the EMA are further analyzed to determine their strength based on predefined percentage thresholds. Labels 'A', 'B', and 'C' are assigned for varying degrees of bullish strength, while 'X', 'Y', and 'Z' denote levels of bearish intensity. Customization: Users can adjust the EMA period and modify the strength thresholds for both bullish and bearish conditions to suit different instruments and timeframes. Best Practices: Combine this indicator with volume analysis and other technical tools for comprehensive market analysis. Regularly update the thresholds based on market volatility and personal risk tolerance to maintain the effectiveness of the labels.
Indicatore Pine Script®
di bnsk1990rulz