This is a relative strength model for Indian Stock Markets where in the price of the stock in the current scenario is compared with the benchmark indices ( NIFTY / BANKNIFTY) over a period of 55 days ( by default).
This indicator also has RSI and Supertrend built-in by default. Hence this indicator can be used in place of 3 indicators.
How to use?
1. When the background is blue, it means that the stock is relatively strong as compared to the bench mark indices over a period of 55 days and the RSI is > 50
When both RS > 0 & RSI > 50 the background will be blue. If either or is true it won't turn blue.
2. Superternd by default setting is 10,3 which can be changed as per one's requirement.
Thanks!!
Nota Keluaran
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Added Palette to choose background color and increased opacity by 5%
Nota Keluaran
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Added alert feature for background color.
If alert is set on RS Buy then as soon as the background goes blue the alert will be triggered and vice-versa.
Nota Keluaran
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Added 2 EMA's 21 & 55 EMA's to the indicator.
Nota Keluaran
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Show and Hide toggle added for EMA
Nota Keluaran
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Now you can change moving average color as per you desire.
HI Saurav, I am referring below indicator which is great tool, just wondering if there any screener to identify potential stocks in the uptrend and matching to this indicator...
sauravraj3sinha
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@rkpg, I have created many screener videos for this indicator on my youtube channel.