Sector/Industry Relative Strength

Overview

The Sector/Industry Relative Strength (RS) Indicator is a powerful tool designed to help traders and investors analyze the performance of sectors and industries relative to the broader market (SPY). It provides real-time insights into sector and industry strength, helping you identify leading and lagging areas of the market.

Key Features

Sector and Industry Analysis:

Automatically detects the sector and industry of the current symbol.
Displays the corresponding sector and industry ETF.

Relative Strength (STS) Calculation:

Calculates the Sector/Industry Trend Strength (STS) by comparing the sector or industry ETF to SPY over the past 20 days.

STS is expressed as a percentile (0-100), indicating how strong the sector/industry ETF has been relative to SPY over the past 20 days.

Example: An STS of 70 means that during the past 20 days, the ETF’s relative strength against SPY was stronger than 70% of those days.

Sector Rank:

Ranks the current sector ETF against a predefined list of major sector ETFs.

Highlights whether the sector is outperforming or underperforming SPY (green if outperforming, red if underperforming).

Customizable Display:

Choose which elements to display (e.g., sector, industry, ETFs, STS, sector rank).

Customize table position, size, text alignment, and colors.

Real-Time Performance:

Tracks daily price changes for sector and industry ETFs.

Displays percentage change from open to close.

How to Use
Add the Indicator:

Apply the indicator to any stock or ETF chart.

The script will automatically detect the sector and industry of the selected symbol.

Interpret the Data:

Sector/Industry: Displays the current sector and industry.

ETF: Shows the corresponding sector and industry ETF.

STS (Sector/Industry Trend Strength): A percentile score (0-100) indicating the relative strength of the sector/industry ETF compared to SPY over the past 20 days.

Sector Rank: Ranks the sector ETF against other major sectors (e.g., "3/12" means the sector is ranked 3rd out of 12).

Customize the Display:

Use the input settings to:

Show/hide specific elements (e.g., sector, industry, ETFs, STS, sector rank).

Adjust the table position, size, and text alignment.

Change colors for positive/negative changes.

Make Informed Decisions:

Use the STS score and sector rank to identify potential trading opportunities.

Focus on sectors and industries with high STS scores and strong rankings (green).

Input Parameters
Table Settings:

Table Position: Choose where to display the table (Top Left, Top Right, Bottom Left, Bottom Right).

Table Size: Adjust the size of the table (Tiny, Small, Normal, Large).

Text Color: Customize the text color.

Background Color: Set the table background color.

Display Options:

Show ETFs: Toggle the display of sector and industry ETFs.

Show STS: Toggle the display of the Sector/Industry Trend Strength (STS) score.

Show Sector/Industry: Toggle the display of sector and industry information.

Show Sector Rank: Toggle the display of the sector rank.

Parameters:

Sector Rank Time Length: Set the number of days used for calculating the sector rank (default: 20).

Example Use Cases
Sector Rotation:

Identify sectors with high STS scores and strong rankings (green) to allocate capital.

Avoid sectors with low STS scores and weak rankings (red).

Industry Analysis:

Compare the STS scores of different industries within the same sector.

Use the STS score to gauge relative strength and identify potential opportunities.

Market Timing:

Use the STS score and sector rank to time entries and exits in sector-specific ETFs.

Combine with other technical indicators for confirmation.