republish US sector rrg (Relative Rotation Graph)
The script was hidden due to the reference link. Republishing without any links.
If you would like to know more about the formula, just google it. The script is based on the first few results from google search.
How to use: adjust the input number and timeframe. It means how far you would like to look back. e.g. weekly timeframe and 12 as input number mean you want to olok 12 weeks back.
Script explain: calculate the relative strength(100 * stock/spx ) > then normalize it(make it near 100) > now have relative strength ratio > find momentum(find roc of relative strength ratio) > normalize the roc(make the number near 100) > now have the relative strength momentum > use momentum and ratio to tell what state it is in.(e.g. both > 100 = leading)
If you would like to know more about the formula, just google it. The script is based on the first few results from google search.
How to use: adjust the input number and timeframe. It means how far you would like to look back. e.g. weekly timeframe and 12 as input number mean you want to olok 12 weeks back.
Script explain: calculate the relative strength(100 * stock/spx ) > then normalize it(make it near 100) > now have relative strength ratio > find momentum(find roc of relative strength ratio) > normalize the roc(make the number near 100) > now have the relative strength momentum > use momentum and ratio to tell what state it is in.(e.g. both > 100 = leading)