Constance Brown RSI with Composite IndexConstance Brown RSI with Composite Index
Overview
This indicator combines Constance Brown's RSI interpretation methodology with a Composite Index and ATR Distance to VWAP measurement to provide a comprehensive trading tool. It helps identify trends, momentum shifts, overbought/oversold conditions, and potential reversal points.
Key Features
Color-coded RSI zones for immediate trend identification
Composite Index for momentum analysis and divergence detection
ATR Distance to VWAP for identifying extreme price deviations
Automatic divergence detection for early reversal warnings
Pre-configured alerts for key trading signals
How to Use This Indicator
Trend Identification
The RSI line changes color based on its position:
Blue zone (RSI > 50): Bullish trend - look for buying opportunities
Purple zone (RSI < 50): Bearish trend - look for selling opportunities
Gray zone (RSI 40-60): Neutral/transitional market - prepare for potential breakout
The 40-50 area (light blue fill) acts as support during uptrends, while the 50-60 area (light purple fill) acts as resistance during downtrends.
// From the code:
upTrendZone = rsiValue > 50 and rsiValue <= 90
downTrendZone = rsiValue < 50 and rsiValue >= 10
neutralZone = rsiValue > 40 and rsiValue < 60
rsiColor = neutralZone ? neutralRSI : upTrendZone ? upTrendRSI : downTrendRSI
Momentum Analysis
The Composite Index (fuchsia line) provides momentum confirmation:
Values above 50 indicate positive momentum
Values below 40 indicate negative momentum
Crossing above/below these thresholds signals potential momentum shifts
// From the code:
compositeIndexRaw = rsiChange / ta.stdev(rsiValue, rsiLength)
compositeIndex = ta.sma(compositeIndexRaw, compositeSmoothing)
compositeScaled = compositeIndex * 10 + 50 // Scaled to fit 0-100 range
Overbought/Oversold Detection
The ATR Distance to VWAP table in the top-right corner shows how far price has moved from VWAP in terms of ATR units:
Extreme positive values (orange/red): Potentially overbought
Extreme negative values (purple/red): Potentially oversold
Near zero (gray): Price near average value
// From the code:
priceDistance = (close - vwapValue) / ta.atr(atrPeriod)
// Color coding based on distance value
Divergence Trading
The indicator automatically detects divergences between the Composite Index and price:
Bullish divergence: Price makes lower low but Composite Index makes higher low
Bearish divergence: Price makes higher high but Composite Index makes lower high
// From the code:
divergenceBullish = ta.lowest(compositeIndex, rsiLength) > ta.lowest(close, rsiLength)
divergenceBearish = ta.highest(compositeIndex, rsiLength) < ta.highest(close, rsiLength)
Trading Strategies
Trend Following
1. Identify the trend using RSI color:
Blue = Uptrend, Purple = Downtrend
2. Wait for pullbacks to support/resistance zones:
In uptrends: Buy when RSI pulls back to 40-50 zone and bounces
In downtrends: Sell when RSI rallies to 50-60 zone and rejects
3. Confirm with Composite Index:
Uptrends: Composite Index stays above 50 or quickly returns above it
Downtrends: Composite Index stays below 50 or quickly returns below it
4. Manage risk using ATR Distance:
Take profits when ATR Distance reaches extreme values
Place stops beyond recent swing points
Reversal Trading
1. Look for divergences
Bullish: Price makes lower low but Composite Index makes higher low
Bearish: Price makes higher high but Composite Index makes lower high
2. Confirm with ATR Distance:
Extreme readings suggest potential reversals
3. Wait for RSI zone transition:
Bullish: RSI crosses above 40 (purple to neutral/blue)
Bearish: RSI crosses below 60 (blue to neutral/purple)
4. Enter after confirmation:
Use candlestick patterns for precise entry
Place stops beyond the divergence point
Four pre-configured alerts are available:
Momentum High: Composite Index above 50
Momentum Low: Composite Index below 40
Bullish Divergence: Composite Index higher low
Bearish Divergence: Composite Index lower high
Customization
Adjust these parameters to optimize for your trading style:
RSI Length: Default 14, lower for more sensitivity, higher for fewer signals
Composite Index Smoothing: Default 10, lower for quicker signals, higher for less noise
ATR Period: Default 14, affects the ATR Distance to VWAP calculation
This indicator works well across various markets and timeframes, though the default settings are optimized for daily charts. Adjust parameters for shorter or longer timeframes as needed.
Happy trading!
Индикатор сравнение относительной силы
RT-RSI 2.0 + Signal📈 RT-RSI 2.0 + Signal – Enhanced RSI Divergence Detection
RT-RSI 2.0 + Signal is a powerful and flexible RSI-based divergence indicator designed for traders who want smarter market entries using real-time confirmations.
This script identifies bullish and bearish RSI divergences, visualizes them directly on the RSI pane, and provides clear output signals (numeric: 1.0 for bullish, 2.0 for bearish) for use in external strategy scripts like RT-Signal 2.0.1.
🔍 Core Features:
✔️ Detects classic RSI divergences (bullish & bearish)
✔️ Includes automatic pivot detection and flexible lookback settings
✔️ External signal output for use in multi-pattern or strategy systems
✔️ Optimized RSI calculation per market type (BTC, DAX, Gold, Forex, etc.)
✔️ Customizable moving average & Bollinger Band smoothing
✔️ Signal is output via plot() (non-displayed) for remote use
Stock versus IndustryStock vs. Industry Indicator
The Stock vs. Industry Indicator is designed to help traders assess the performance of individual stocks relative to their respective industries. This tool automatically identifies the industry classification of a stock, compares it to a relevant industry ETF, and calculates the stock-to-industry performance ratio in real-time.
Key Features:
Real-Time Performance Comparison: The indicator tracks and compares the price movement of an individual stock against the most relevant ETF for its industry, providing a dynamic view of relative strength.
Stock-to-Industry Ratio: Displays the ratio of stock performance versus industry performance, allowing traders to easily identify outperforming and underperforming stocks within their industry.
SMA Trend Line: The indicator includes a simple moving average (SMA) trend line to assist with visual trend analysis, offering additional context to the stock’s movement in relation to the broader industry.
Customizable Parameters: Users can customize SMA periods, adjust comparison overrides, and use color highlighting to suit their trading preferences and strategies.
Industry Classification: Automatically assigns the correct industry classification to any stock, providing a reliable and automated method for comparing stocks within the same industry.
Benefits:
Identify Leaders and Laggards: Easily distinguish which stocks are outperforming their industry and which are underperforming. This allows traders to make more informed decisions based on relative strength.
Sector Rotation Detection: The indicator helps detect when a stock begins to underperform its industry, which can signal a shift in sector strength. This allows traders to adjust their positions and strategies accordingly.
Breakout Confirmation: When a stock breaks out while outperforming its industry, the indicator provides additional confidence in the breakout’s validity and potential for continued performance.
Avoid Value Traps: By comparing a stock’s performance against its industry, the indicator helps avoid investing in stocks that appear undervalued but are underperforming relative to their peers, reducing the risk of falling into value traps.
Usage:
Timeframes: The indicator works across various timeframes and is adaptable for both short-term and long-term traders.
Customization: Users can modify the parameters and settings to align with their specific trading style, whether day trading or position trading.
Visual Aid: The indicator provides an intuitive chart display, making it easy to understand a stock’s performance relative to its industry at a glance.
Disclaimer:
This indicator does not guarantee future performance or predict market movements. The information provided is based on historical data and current market conditions, which can change rapidly. It is important to use this tool as part of a broader trading strategy, taking into account other market factors and risk management techniques.
Cumulative Weighted Change (Session) with 14 MAThis indicator provides the session weighted cumulative change of the Magnificent 7(AAPL META GOOG AMZN MSFT NVDA TSLA), it is weighted according to their market capitalization and size in relation to size of the market. The bar to bar current change is plotted by the fast line that begins its calculations at the start of each daily session, the smoother(slower) line is the 14 period Volume Weighted Moving Average of the cumulative change.
I use this in conjunction with a timeframe continuity indicator in order to weed out invalid signals, I have one that I have recently published. I use this to trade futures and index stock options, since the 7 tickers that this indicator is built off of are the biggest force that moves markets this ends up acting as an alpha indicator if you can find a consistent and reliable way to weed out false signals.
Happy Trading!
-Drgzzz
[#ps #mft] RDT's Real Relative StrengthIndicator to use with Pine Screener for filtering watchlists with RDT's Real Relative Strength.
See r/realdaytrading for more info on the RRS.
How to:
1. Mark the indicator as "Favorite".
2. Open Pine Screener.
3. Choose a watchlist.
4. Choose this indicator.
5. Change the settings as needed.
6. Make sure you set timeframe to "5 minutes" and not the default "1 day".
If you choose "Bullish trend", then "Signal X" is a shortcut for RRS > 0 for that timeframe. Similarly "Bearish trend" for "Signal X" means RRS < 0.
Pro-tip #1: use Symbol syncing between tabs to easily go over the results.
Pro-tip #2: you can have two tabs open for "Bullish" and "Bearish" pine screeners (even synced to the same color), so you don't have to change settings everytime.
Ragi's Divergence HelperThis is Ragi's Divergence Helper is a TradingView indicator designed to track bullish and bearish divergences across multiple timeframes. It provides a clear, structured dashboard that remains fixed in a chosen corner of the chart for easy visibility.
Recommendations:
Put dashboard on lower left corner is less obstructive.
Use along with any RSI indicator for confirmations of bullish and bearish divergences.
Key Features:
✅ Timeframe Coverage: Monitors 5m, 10m, 15m, 30m, 1H, 2H, 4H, and Daily timeframes.
✅ Divergence Detection: Identifies whether a bullish (green) or bearish (red) divergence is present on each timeframe, displaying "None" if no divergence is detected.
✅ Divergence Lineup: Summarizes the overall market direction by checking if multiple timeframes align bullish or bearish.
✅ Customizable Settings: Users can adjust colors, panel position (Top Right, Bottom Right, Bottom Left, Top Left), and background color for better chart integration.
✅ Fixed & Readable Panel: Ensures the information is always visible without interfering with price action analysis.
How to Use It:
If multiple timeframes show bullish divergences, it may indicate a potential trend reversal or continuation to the upside.
If multiple timeframes show bearish divergences, it may signal a possible price drop or reversal downward.
When no divergences are present, it suggests no immediate divergence-based trading opportunity.
This indicator is ideal for traders looking for quick divergence insights across different timeframes without needing to analyze multiple indicators manually. 🚀
Multi-Ticker RS vs SPYThis Pine Script, titled "Multi-Ticker RS vs SPY," is a clean and efficient indicator designed for TradingView, enabling traders to monitor the relative strength (RS) of up to 10 ticker symbols compared to the S&P 500 ETF (SPY) on a single chart. Ideal for options traders, such as those managing a $1,400 account, it provides a simple way to assess which stocks are outperforming or underperforming the broader market. As of February 26, 2025, the script supports any chart timeframe, such as 5-minute or daily intervals, and calculates RS based on a user-defined lookback period, defaulting to 1 bar for real-time insights.
Users can input ticker symbols via customizable settings, with defaults set to popular stocks like AAPL, TSLA, NVDA, GOOGL, AMZN, MSFT, FB, NFLX, INTC, and PYPL. The script fetches closing prices for each ticker and SPY, computes their percentage changes over the lookback period, and determines RS as the ratio of each ticker’s change to SPY’s change, handling division by zero gracefully. It displays each ticker’s current RS score in a vertical column of labels on the chart’s top-left corner, updated on the last bar to avoid clutter. Users can adjust label size (tiny, small, normal, large) and text color for visibility, ensuring a tailored, error-free experience for quick market analysis.
Relative Performance SuiteOverview
The Relative Performance Suite (RPS) is a versatile and comprehensive indicator designed to evaluate an asset's performance relative to a benchmark. By offering multiple methods to measure performance, including Relative Performance, Alpha, and Price Ratio, this tool helps traders and investors assess asset strength, resilience, and overall behavior in different market conditions.
Key Features:
✅ Multiple Performance Measures:
Choose from various relative performance calculations, including:
Relative Performance:
Measures how much an asset has outperformed or underperformed its benchmark over a given period.
Relative Performance (Proportional):
A proportional version of relative performance,
factoring in scaling effects.
Relative Performance (MA Based):
Uses moving averages to smooth performance fluctuations.
Alpha:
A measure of an asset’s performance relative to what would be expected based on its beta and the benchmark’s return. It represents the excess return above the risk-free rate after adjusting for market risk.
Price Ratio:
Compares asset prices directly to determine relative value over time.
✅ Customizable Moving Averages:
Apply different moving average types (SMA, EMA, SMMA, WMA, VWMA) to smooth price inputs and refine calculations.
✅ Beta Calculation:
Includes a Beta measure used in Alpha calculation, which users can toggle the visibility of helping users understand an asset's sensitivity to market movements.
✅ Risk-Free Rate Adjustment:
Incorporate risk-free rates (e.g., US Treasury yields, Fed Funds Rate) for a more accurate calculation of Alpha.
✅ Logarithmic Returns Option:
Users can switch between standard returns and log returns for more refined performance analysis.
✅ Dynamic Color Coding:
Identify outperformance or underperformance with intuitive color coding.
Option to color bars based on relative strength, making chart analysis easier.
✅ Customizable Tables for Data Display:
Overview table summarizing key metrics.
Explanation table offering insights into how values are derived.
How to Use:
Select a Benchmark: Choose a comparison symbol (e.g., TOTAL or SPX ).
Pick a Performance Metric: Use different modes to analyze relative performance.
Customize Calculation Methods: Adjust moving averages, timeframes, and log returns based on preference.
Interpret the Colors & Tables: Utilize the dynamic coloring and tables to quickly assess market conditions.
Ideal For:
Traders looking to compare individual asset performance against an index or benchmark.
Investors analyzing Alpha & Beta to understand risk-adjusted returns.
Market analysts who want a visually intuitive and data-rich performance tracking tool.
This indicator provides a powerful and flexible way to track relative asset strength, helping users make more informed trading decisions.
Metaphor Vigour Ratio### **Script Name:** Metaphor Vigour Ratio
**Short Title:** Metaphor Vigour Ratio
**Author:** Sovit Manjani, CMT
**Description:**
The Metaphor Vigour Ratio (MVRatio) is a powerful Relative Strength Indicator designed for assessing normalized relative strength. It is versatile and can be applied to any script or used to rank symbols based on their intermarket relative strength.
---
### **Features:**
1. **Bullish and Bearish Signals:**
- **Above 100:** Indicates a bullish trend.
- **Below 100:** Indicates a bearish trend.
2. **Trend Analysis with Slope:**
- **Slope Rising:** Suggests bullish momentum.
- **Slope Falling:** Suggests bearish momentum.
3. **Stock Selection Strategy:**
- Identify and rank stocks based on the MVRatio. For example, buy the top 10 stocks of Nifty with the highest MVRatio values for strong performance potential.
---
### **Inputs:**
1. **Fast EMA Period (RSEMAFast):** Default set to 10. Controls the sensitivity of the Fast Moving Average.
2. **Slow EMA Period (RSEMASlow):** Default set to 30. Provides a stable trend base with the Slow Moving Average.
3. **Smooth EMA Period (SmoothEMA):** Default set to 3. Smooths the MVRatio for better clarity.
4. **Close Source:** Default is the closing price, but it can be customized as needed.
5. **Comparative Symbol (ComparativeTickerId):** Default is "NSE:NIFTY," allowing comparison against a benchmark index.
---
### **Calculation Logic:**
1. **Relative Strength (RS):**
- Calculated as the ratio of the base symbol's price to the comparative symbol's price.
2. **Exponential Moving Averages (FastMA and SlowMA):**
- Applied to the RS to smooth and differentiate trends.
3. **Metaphor Vigour Ratio (MVRatio):**
- Computed as the ratio of FastMA to SlowMA, scaled by 100, and further smoothed using SmoothEMA.
---
### **Visualization:**
1. **MVRatio Plot (Blue):**
- Represents the relative strength dynamics.
2. **Reference Line at 100 (Gray):**
- Helps quickly identify bullish (above 100) and bearish (below 100) zones.
---
### **How to Use:**
1. Add the indicator to your chart from TradingView's Pine Script editor.
2. Compare the performance of any symbol relative to a benchmark (e.g., Nifty).
3. Analyze trends, slopes, and ranking based on MVRatio values to make informed trading decisions.
---
**Note:** This indicator is for educational purposes and should be used alongside other analysis methods to make trading decisions.
StockInfo ManualScript Description:
The StockInfo Manual is designed to display detailed stock information directly on the chart for the selected symbol. It processes user-provided input data, including
stock symbols
Industries
Relative Strength (RS) values
Band information
Key Features:
1. Symbol-Specific Data Display: Displays information only for the current chart symbol.
2. Customizable Table: Adjust the table's position, text size, colors, and headers to match your preferences.
3. Low RS/Band Conditions: Highlights critical metrics (RS < 50 or Band < 6) with a red background for quick visual cues.
4. Toggle Information: Choose to show or hide RS, Band, and Industry columns based on your needs.
How to Use the Script:
1. Use any platform (ex: chartsmaze) to get Industry,RS and Band information of any Stock. Prepare the data as separate column of excel
2. Configure Inputs:
- Stock Symbols (`Stock`): Enter a comma-separated list of stock symbols (e.g.,
NSE:ABDL,
NSE:ABFRL,
NSE:ABREL,
NSE:ABSLAMC,
NSE:ACC,
NSE:ACE,
- Industries (`Industry`): Provide a comma-separated list of industries for the stocks (e.g., 103-Brewerie,
109-Retail-D,
92-Paper & ,
19-Asset Ma,
62-Cement,
58-Industri,
- Relative Strength (`RS`): Input RS values for each stock (e.g.,
83,
52,
51,
81,
23,
59,
- Band Information (`Band`): Specify Band values for each stock. Use "No Band" if 10,
No Band,
20,
20,
No Band,
20,
3. Customize the Table:
-Display Options: Toggle the visibility of `RS`, `Band`, and `Industry` using the input checkboxes.
-Position and Appearance: Choose the table's position on the chart (e.g., top-right, bottom-center). Customize text size, background colors, header display, and other visual elements.
4. Interpret the Table:
- The table will dynamically display information for the current chart symbol only.
- If the `RS` is below 50 or the Band is below 6, the corresponding row is highlighted with a red background for immediate attention.
One need to enter details at least weekly for a correct result
Relative Performance Indicator by ComLucro - 2025_V01The "Relative Performance Indicator by ComLucro - 2025_V01" is a powerful tool designed to analyze an asset's performance relative to a benchmark index over multiple timeframes. This indicator provides traders with a clear view of how their chosen asset compares to a market index in short, medium, and long-term periods.
Key Features:
Customizable Lookback Periods: Analyze performance across three adjustable periods (default: 20, 50, and 200 bars).
Relative Performance Analysis: Calculate and visualize the difference in percentage performance between the asset and the benchmark index.
Dynamic Summary Label: Displays a detailed breakdown of the asset's and index's performance for the latest bar.
User-Friendly Interface: Includes customizable colors and display options for clear visualization.
How It Works:
The script fetches closing prices of both the asset and a benchmark index.
It calculates percentage changes over the selected lookback periods.
The indicator then computes the relative performance difference between the asset and the index, plotting it on the chart for easy trend analysis.
Who Is This For?:
Traders and investors who want to compare an asset’s performance against a benchmark index.
Those looking to identify trends and deviations between an asset and the broader market.
Disclaimer:
This tool is for educational purposes only and does not constitute financial or trading advice. Always use it alongside proper risk management strategies and backtest thoroughly before applying it to live trading.
Chart Recommendation:
Use this script on clean charts for better clarity. Combine it with other technical indicators like moving averages or trendlines to enhance your analysis. Ensure you adjust the lookback periods to match your trading style and the timeframe of your analysis.
Additional Notes:
For optimal performance, ensure the benchmark index's data is available on your TradingView subscription. The script uses fallback mechanisms to avoid interruptions when index data is unavailable. Always validate the settings and test them to suit your trading strategy.
S&P 500 E-Mini TrackerThis script generates a reference price for the S&P 500 ETF - SPY based on the current price of the ES contract, which is an E-Mini Futures contract representing the S&P 500 index. The indicator plots this reference price on the chart, providing a unique view of the relationship between these two popular markets.
Advantages:
Identifies divergence between the ES and SPY prices, indicating potential trading opportunities or shifts in market sentiment.
Confirms trends by showing the correlation between the ES and SPY prices.
Eliminates the need for multiple charts, allowing traders to focus on a single screen and make more informed decisions.
Customizable Parameters:
Color Scheme: Choose from various color options to customize the appearance of the indicator.
Line Style: Select from different line styles to change the visual representation of the reference price.
Divisor: Set the dividing factor to adjust the ratio at which the reference price is calculated. (Default value: 10). It is recommended to keep it at 10 for SPY.
To use it with other Stocks/ ETFs, use simple ratio math to calculate the divisor and you can customize the indicator to scale accordingly.
By using this indicator, traders can gain a deeper understanding of the relationship between the E-Mini and SPY markets, making it easier to identify trading opportunities and confirm trends.
Relative Price Strength (RPS)Relative Price Strength (RPS) is a technical analysis indicator that measures the performance of a specific symbol relative to a benchmark or "Base Symbol".
It's essentially a ratio that compares the price of the specific symbol to the price of the benchmark.
Rising RPS: Indicates that the symbol is outperforming the benchmark.
Falling RPS: Suggests that the symbol is underperforming the benchmark.
RSP is smoothed over a period for better visualization.
Relative Strength vs SPX
This indicator calculates the ratio of the current chart's price to the S&P 500 Index (SPX), providing a measure of the stock's relative strength compared to the broader market.
Key Features:
Dynamic High/Low Detection: Highlights periods when the ratio makes a new high (green) or a new low (red) based on a user-defined lookback period.
Customizable Lookback: The lookback period for detecting highs and lows can be adjusted in the settings for tailored analysis.
Visual Overlay: The ratio is plotted in a separate pane, allowing easy comparison of relative strength trends.
This tool is useful for identifying stocks outperforming or underperforming the S&P 500 over specific timeframes.
Real Relative Strength Indicator (Multi-Index Comparison)The Real Relative Strength (RRS) indicator implements the "Real Relative Strength" equation, as detailed on the Real Day Trading subreddit wiki. This equation measures whether a stock is outperforming a benchmark (such as SPY or any preferred ETF/index) by calculating price change normalized by the Average True Range (ATR) of both the stock and the indices it’s being compared to.
The RRS metric often highlights potential accumulation by institutional players. For example, in this chart, you can observe accumulation in McDonald’s beginning at 1:25 pm ET on the 5-minute chart and continuing until 2:55 pm ET. When used in conjunction with other indicators or technical analysis, RRS can provide valuable buy and sell signals.
This indicator also supports multi-index analysis, allowing you to plot relative strength against two indices simultaneously—defaulting to SPY and QQQ—to gain insights into the "real relative strength" across different benchmarks. Additionally, this indicator includes an EMA line and background coloring to help automatically identify relative strength trends, providing a clearer visualization than typical Relative Strength Comparison indicators.
Weekly RSI Buy/Sell SignalsWeekly RSI Buy/Sell Signal Indicator
This indicator is designed to help traders identify high-probability buy and sell opportunities on the weekly chart by using the Relative Strength Index (RSI). By utilizing weekly RSI values, this indicator ensures signals align with broader market trends, providing a clearer view of potential price reversals and continuation.
How It Works:
Weekly RSI Calculation: This script calculates the RSI using a 14-period setting, focusing on the weekly timeframe regardless of the user’s current chart view. The weekly RSI is derived using request.security, allowing for consistent signals even on intraday charts.
Signal Conditions:
Buy Signal: A buy signal appears when the RSI crosses above the oversold threshold of 30, suggesting that price may be gaining momentum after a potential bottom.
Sell Signal: A sell signal triggers when the RSI crosses below the overbought threshold of 70, indicating a possible momentum shift downwards.
Visual Cues:
Buy/Sell Markers: Clear green "BUY" and red "SELL" markers are displayed on the chart when buy or sell conditions are met, making it easy to identify entry and exit points.
RSI Line and Thresholds: The weekly RSI value is plotted in real time with color-coded horizontal lines at 30 (oversold) and 70 (overbought), providing a visual reference for key levels.
This indicator is ideal for traders looking for reliable, trend-based signals on higher timeframes and can be a helpful tool for filtering out shorter-term market noise.
Industry Group Strength - IndiaPresenting the Industry Group Strength Indicator for India market, designed to help traders identify top-performing stocks within specific industry groups that are predefined.
⦿ Identifies Leading Stocks in Industry Groups
⦿ Analyses the following metrics
YTD Return : Measures stock performance from the start of the year.
RS Rating : Relative Strength rating for user-selected periods.
% Return : Percentage return over a user-selected lookback period.
Features
This indicator dynamically recognises the industry group of the current stock on the chart and ranks stocks within that group based on predefined data points. Traders can add this indicator to focus on top-performing stocks relative to their industry.
⦿ Color-coded for Easy Visualisation
You can choose from the following key metrics to rank stocks:
YTD Return
RS Rating
% Return
⦿ Table Format with Performance Metrics Compact mode
Vertical View
Horizontal View
All of the three metrics are shown in the compact mode and the current stock that is viewed is highlighted!
Vertical view
Horizontal view
Stock Ranking
Stocks are ranked based on their performance within industry groups, enabling traders to easily spot leaders and laggards in each sector. Color-coded gradients visually represent the stocks’ performance rankings, with higher percentile rankings indicating better performance.
Relative Strength (RS)
Relative Strength (RS) compares a stock’s performance against the benchmark index. The RS value is normalized from 1 to 99, making it easier to compare across different stocks. A rising RS value indicates that the stock is outperforming the market, helping traders quickly gauge relative performance within industry groups.
Limitations
At the time of developing this indicator, Pine requests are limited to 40 per script so the predefined symbols had to be filtered to 40 per Industry group
Stocks Filters
Filters that are used to filter the stocks in an Industry group to have maximum of 40 stocks
⦿ Auto, Chemical, Engineering, Finance, Pharma
Market Cap >= 1000 Crores and Market Cap <= 60000 Crores
Price >= 30 and Price <= 6000
50 Days Average ( Price * Volume ) >= 6 Crores
⦿ For rest of the Industry groups
Market Cap >= 1000 Crores and Market Cap <= 100000 Crores
Price >= 20 and Price <= 10000
50 Days Average ( Price * Volume ) >= 3 Crores
Credits
This indicator is forked from the Script for US market by @Amphibiantrading Thanks Brandon for the beginning of this indicator.
This indicator is built on TradingView’s new dynamic requests feature, thanks to @PineCoders for making this possible!
Relative Strength Price Oscillator Indicator (RS PPO)Percentage Price Oscillator (PPO)
The Percentage Price Oscillator (PPO) is a momentum oscillator that measures the difference between two moving averages as a percentage of the larger moving average. As with its cousin, MACD, the Percentage Price Oscillator is shown with a signal line, a histogram and a centerline. Signals are generated with signal line crossovers, centerline crossovers, and divergences.
PPO readings are not subject to the price level of the security and the PPO values for different securities can be compared, regardless of the price of the security.
Relative Strength (RS)
Relative strength is a strategy used in momentum investing and focuses on investing in stocks or other securities that have performed well relative to the market as a whole or to a relevant benchmark.
Chart
In the chart, Microsoft stock (MSFT) is plotted against the VanEck Semiconductor ETF (SMH).
In the example on the left, from the negative values of the RS PPO it can be seen that MSFT, although trending upward, is losing out in negative terms to the SMH etf.
In the example on the right, during a correction phase with a downward price trend, Microsoft held up relatively well compared to the Van Eck Semiconductor etf.
Stock vs Custom Symbol OutperformanceStock vs Custom Symbol Outperformance" is a powerful technical analysis indicator designed to help traders and investors gauge the relative performance of a stock against a selected benchmark symbol. This tool enables users to easily visualize how a stock is performing in comparison to another asset, such as an index or another stock.
Key Features:
Custom Symbol Comparison: Input any symbol to compare against the stock of interest, allowing for flexible analysis tailored to specific market conditions.
Outperformance Calculation: The indicator calculates the percentage change in price for both the stock and the selected benchmark, providing a clear view of relative performance.
Moving Average Smoothing: A customizable moving average smooths the outperformance data, helping to identify trends and reduce noise in the signals.
Threshold Lines: Set upper and lower threshold lines to visualize significant levels of outperformance or underperformance, aiding in decision-making.
Dynamic Color Coding: The outperformance bars are color-coded—green indicates that the stock is outperforming the benchmark, while red indicates underperformance.
How to Use:
Select a Benchmark: Use the input field to choose the symbol against which you want to compare the stock.
Adjust Parameters: Modify the moving average length and set your desired thresholds for easier identification of performance metrics.
Interpret Results: Analyze the plot for insights into the stock's performance relative to the benchmark, with the moving average providing additional context for trends.
This indicator is ideal for traders looking to refine their strategies by understanding how individual stocks measure up against key benchmarks in the market.
CANSLIM IBD Relative Strength NIFTYSMLCAP250 (Daily & Weekly)This Pine Script (written in version 5) is designed to calculate the IBD Relative Strength for both daily and weekly timeframes, comparing the current chart's security to the NIFTY SMLCAP 250 index. Here's a breakdown of the code:
1. Indicator Initialization: This line sets up the indicator with both a short and full title. The overlay=true means the plot will be drawn on top of the price chart.
2. Fetching Data: This fetches the daily ("D") and weekly ("W") close prices for the NIFTY SMLCAP 250 index.
3. Relative Strength Calculation: Relative strength is calculated as the ratio of the security's current close price to the close price of the NIFTY SMLCAP 250, multiplied by 100 for both daily and weekly timeframes.
4. Timeframe-Based Selection: Here, the script checks whether the chart is in daily or weekly mode and selects the corresponding relative strength value.
5. Scaling with Multiplier: This section ensures there are at least 60 bars of data and scales the relative strength by using a multiplier derived from the 60th previous bar's close price.
6. Plotting: Finally, the scaled relative strength is plotted on the chart in black.
Improvements :
Dynamic Timeframe Handling: You might want to extend this for other timeframes, e.g., monthly.
Customization: You can add user input parameters to adjust the timeframe, scale factor, or period dynamically.
Color Enhancements: You can add color variation to indicate strength/weakness more clearly.
Ichimoku Crosses_RSI_AITIchimoku Crosser_RSI_AIT
Overview
The "Ichimoku Cloud Crosses_AIT" strategy is a technical trading strategy that combines the Ichimoku Cloud components with the Relative Strength Index (RSI) to generate trade signals. This strategy leverages the crossovers of the Tenkan-sen and Kijun-sen lines of the Ichimoku Cloud, along with RSI levels, to identify potential entry and exit points for long and short trades. This guide explains the strategy components, conditions, and how to use it effectively in your trading.
1. Strategy Parameters
User Inputs
Tenkan-sen Period (tenkanLength): Default value is 21. This is the period used to calculate the Tenkan-sen line (conversion line) of the Ichimoku Cloud.
Kijun-sen Period (kijunLength): Default value is 120. This is the period used to calculate the Kijun-sen line (base line) of the Ichimoku Cloud.
Senkou Span B Period (senkouBLength): Default value is 52. This is the period used to calculate the Senkou Span B line (leading span B) of the Ichimoku Cloud.
RSI Period (rsiLength): Default value is 14. This period is used to calculate the Relative Strength Index (RSI).
RSI Long Entry Level (rsiLongLevel): Default value is 60. This level indicates the minimum RSI value for a long entry signal.
RSI Short Entry Level (rsiShortLevel): Default value is 40. This level indicates the maximum RSI value for a short entry signal.
2. Strategy Components
Ichimoku Cloud
Tenkan-sen: A short-term trend indicator calculated as the simple moving average (SMA) of the highest high and the lowest low over the Tenkan-sen period.
Kijun-sen: A medium-term trend indicator calculated as the SMA of the highest high and the lowest low over the Kijun-sen period.
Senkou Span A: Calculated as the average of the Tenkan-sen and Kijun-sen, plotted 26 periods ahead.
Senkou Span B: Calculated as the SMA of the highest high and lowest low over the Senkou Span B period, plotted 26 periods ahead.
Chikou Span: The closing price plotted 26 periods behind.
Relative Strength Index (RSI)
RSI: A momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100 and is used to identify overbought or oversold conditions.
3. Entry and Exit Conditions
Entry Conditions
Long Entry:
The Tenkan-sen crosses above the Kijun-sen (bullish crossover).
The RSI value is greater than or equal to the rsiLongLevel.
Short Entry:
The Tenkan-sen crosses below the Kijun-sen (bearish crossover).
The RSI value is less than or equal to the rsiShortLevel.
Exit Conditions
Exit Long Position: The Tenkan-sen crosses below the Kijun-sen.
Exit Short Position: The Tenkan-sen crosses above the Kijun-sen.
4. Visual Representation
Tenkan-sen Line: Plotted on the chart. The color changes based on its relation to the Kijun-sen (green if above, red if below) and is displayed with a line width of 2.
Kijun-sen Line: Plotted as a white line with a line width of 1.
Entry Arrows:
Long Entry: Displayed as a yellow triangle below the bar.
Short Entry: Displayed as a fuchsia triangle above the bar.
5. How to Use
Apply the Strategy: Apply the "Ichimoku Cloud Crosses_AIT" strategy to your chart in TradingView.
Configure Parameters: Adjust the strategy parameters (Tenkan-sen, Kijun-sen, Senkou Span B, and RSI settings) according to your trading preferences.
Interpret the Signals:
Long Entry: A yellow triangle appears below the bar when a long entry signal is generated.
Short Entry: A fuchsia triangle appears above the bar when a short entry signal is generated.
Monitor Open Positions: The strategy automatically exits positions based on the defined conditions.
Backtesting and Live Trading: Use the strategy for backtesting and live trading. Adjust risk management settings in the strategy properties as needed.
Conclusion
The "Ichimoku Cloud Crosses_AIT" strategy uses Ichimoku Cloud crossovers and RSI to generate trading signals. This strategy aims to capture market trends and potential reversals, providing a structured way to enter and exit trades. Make sure to backtest and optimize the strategy parameters to suit your trading style and market conditions before using it in a live trading environment.
Relative Strength and MomentumRelative Strength and Momentum Indicator
Unlock deeper market insights with the Relative Strength and Momentum Indicator—a powerful tool designed to help traders and investors identify the strongest stocks and sectors based on relative performance. This custom indicator displays essential information on relative strength and momentum for up to 15 different symbols, compared against a benchmark index, all within a clear and organized table format.
Key Features:
1. Customizable Inputs: Choose up to 15 symbols to compare, along with a benchmark index, allowing you to tailor the indicator to your trading strategy. The 'Lookback Period' input defines how many weeks of data are analyzed for relative strength and momentum.
2. Relative Strength Calculation: For each selected symbol, the indicator calculates the Relative Strength (RS) against the chosen benchmark. This RS is further refined using an exponential moving average (EMA) to smooth the results, providing a more stable trend overview.
3. Momentum Analysis: Momentum is determined by analyzing the rate of change in relative strength. The indicator calculates a momentum rank for each symbol, based on its relative strength’s improvement or deterioration.
4. Percentile Ranking System: Each symbol is assigned a percentile rank (from 1 to 100) based on its relative strength compared to the others. Similarly, momentum rankings are also assigned from 1 to 100, offering a clear understanding of which assets are outperforming or underperforming.
5. Visual Indicators:
a. Green: Signals improving or stable relative strength and momentum.
b. Red: Indicates declining relative strength or momentum.
c. Aqua: Highlights symbols performing well on both relative strength and momentum—ideal candidates for further analysis.
6. Two Clear Tables:
a. Relative Strength Rank Table: Displays weekly rankings of relative strength for each symbol.
b. Momentum Table: Shows momentum trends, helping you identify which symbols are gaining or losing strength.
7. Color-Coded for Easy Analysis: The tables are color-coded to make analysis quick and straightforward. A green color means the symbol is performing well in terms of relative strength or momentum, while red indicates weaker performance. Aqua marks symbols that are excelling in both areas.
Use Case:
a. Sector Comparison: Identify which sectors or indexes are showing both relative strength and momentum to pick high-potential stocks. This allows you to align with broader market trends for improved trade entries.
b. Stock Selection: Quickly compare symbols within the same sector to find the stronger performers.
RSI TreeRSI Tree is a simple way to compare the strength of several different instruments against each other.
The default is to compare MSFT, NVDA, TSLA, GOOG, META, AMZN, AAPL and NASDAQ. You could do the same for currency pairs and any other instruments available in Trading View. However, it makes the most sense to compare seven instruments to an eighth underlying instrument. As you can see in the default values, we included the NASDAQ as the eighth instrument since the other seven are part of the NASDAQ composite index. If you were to trade major currency pairs, then your eighth instrument would most likely be the U.S. Dollar (DXY).
The chart setup is important as well. You need to split your chart horizontally into 4 plots. Each plot would be at a different timing interval. The example shows 4 hr, 1 hr, 15 min and 5 min (left to right) charts. Now not only can we compare the instruments against each other, but we can do it across time to get an idea of the motion of each instrument.
Note, the instrument used on the chart is somewhat important. If the chart is set to a currency pair, but you have the RSI Tree setup for equities (as in the default) then you will get some odd behavior due to the times when these are open. Equities are 0930 to 1600 EST, whereas something like a currency would be open 24 hours a day.
Layout for default settings: www.tradingview.com
Bugs?
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