Sector Rating- India

kelmarin

🔹 What is RS (Relative Strength)?
Relative Strength means how a sector is performing compared to a benchmark index.
If RS is high, it means the sector is doing better than the market.
If RS is low, it means the sector is underperforming.

🔹 Why is RS important for sector analysis?
Money always flows into strong sectors.
RS helps us find which sectors are leading in the market.
When the market is recovering after a fall, sectors with strong RS often give early breakouts.
That’s why RS is useful for understanding sector rotation.

⚠️ When RS does not work well:
In weak or falling markets, RS is not very reliable.
Most sectors fall together in a bear market, so RS don’t help much.
This tool is better for bullish or recovering market conditions.

🛠️ How does this script work?

• It compares the RS of all major Indian sector indices
  
• It uses a selected benchmark index (default is NIFTY LARGEMID250; can be changed in settigns)
  
• RS is calculated based on the past 100 candles (Can be changed in settings)
  
• The script shows a table with the top sectors ranked by RS
  

⚙️ What can the user change?

• You can change the benchmark index (for example, to NIFTY 50 or NIFTY MIDCAP)
  
• You can also adjust the lookback period to change the RS calculation duration
  
• Shorter lookback = recent moves
  
• Longer lookback = long-term trend
  

📌 This script is only for study and analysis.
❌ It is not a signal.
✅ Best use is to find strong and leading sectors during a rising market.

Happy Trading!
– LensOfChartist

16 jam lalu

Nota Keluaran

Added another row showing %Change over 5 days (RS Rating of the sector)