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Relative Strength(RSMK) + Perks - Markos KatsanosIf you are desperately looking for a novel RSI, this isn't that. This is another lesser known novel species of indicator. Hot off the press, in multiple stunning color schemes, I present my version of "Relative Strength (RSMK)" employing PSv4.0, originally formulated by Markos Katsanos for TASC - March 2020 Traders Tips. This indicator is used to compare performance of an asset to a market index of your choosing. I included the S&P 500 index along side the Dow Jones and the NASDAQ indices selectively by an input() in "Settings". You may comparatively analyze other global market indices by adapting the code, if you are skilled enough in Pine to do so. With this contribution to the Tradingview community, also included is MY twin algorithmic formulation of "Comparative Relative Strength" as a supplementary companion indicator. They are eerily similar, so I decided to include it. You may easily disable my algorithm within the indicator "Settings". I do hope you may find both of them useful. Configurations are displayed above in multiple scenarios that should be suitable for most traders. As always, I have included advanced Pine programming techniques that conform to proper "Pine Etiquette". For those of you who are newcomers to Pine Script, this script may also help you understand advanced programming techniques in Pine and how they may be utilized in a most effective manner. Utilizing the "Power of Pine", I included the maximum amount of features I could surmise in an ultra small yet powerful package, being less than a 60 line implementation at initial release. Unfortunately, there are so many Pine mastery techniques included, I don't have time to write about all of them. I will have to let you discover them for yourself, excluding the following Pine "Tricks and Tips" described next. Of notable mention with this release, I have "overwritten" the Pine built-in function ema(). You may overwrite other built-in functions too. If you weren't aware of this Pine capability, you now know! Just heed caution when doing so to ensure your replacement algorithms are 100% sound. My ema() will also accept a floating point number for the period having ultimate adjustability. Yep, you heard all of that properly. Pine is becoming more impressive than `impressive` was originally thought of... Features List Includes: Dark Background - Easily disabled in indicator Settings->Style for "Light" charts or with Pine commenting AND much, much more... You have the source! The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
Penunjuk Pine Script®
oleh ImmortalFreedom
16
Percentage Relative StrengthA relative strength indicator that compares your main symbol (one on your chart) strength to another symbol by percentage. The result is plotted as a histogram showing which symbol is rising or falling more in percentage. In case your chart symbol is TSLA (Tesla) and the indicator 'Symbol to compare' is SPX: GREEN area (above zero) means TSLA is rising more than the SPX. RED area (below zero) means TSLA is falling more than the SPX. To these who wants to understand calculation, it's pretty straightforward. For each asset we calculate everyday percentage change based on previous close and current close. We take main asset (chart symbol) percentage and subtract it from percent of change of the symbol we want to compare to. Result are smoothed by SMA (Simple Moving Average) You can select different indexes or cfds such as S&P500 (SPX), NASDAQ 100 (NSX), RUSSELL 2000 (RUT) and NASDAQ (IXIC). Default is S&P 500 (SPX). Enjoy and Like if you like.
Penunjuk Pine Script®
oleh dman103
20
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.
Penunjuk Pine Script®
oleh SushanTrades
Double Relative Strength Index (Double RSI)# Double Relative Strength Index (Double RSI) Indicator The Double Relative Strength Index (Double RSI) is a custom trading indicator for the TradingView platform. It provides traders with two Relative Strength Index (RSI) bands, a fast RSI, and a slow RSI, which can be helpful in identifying potential entry and exit points in the market. ## Features - **Uses 2 RSI Bands:** The indicator displays two RSI lines on the chart, providing insights into the short-term and long-term strength of the asset's price movement. - **Fast and Slow RSI:** The fast RSI uses a shorter length, while the slow RSI uses a longer length, allowing traders to observe different time frames of price momentum. - **Smoothing:** To reduce noise and improve the readability of the RSI lines, the indicator offers multiple smoothing options such as RMA, SMA, EMA, WMA, and HMA. - **Crossover and Crossunder Signals:** The indicator identifies potential trading signals when the fast RSI crosses above or below the slow RSI. These events are visually highlighted on the chart with color-coded candlesticks. - **RSI Bands:** The indicator also includes colored bands that represent different RSI levels, such as 80%, 75%, 60%, 50%, 45%, 25%, and 20%. These bands help visualize the RSI's current position relative to overbought and oversold conditions. ## How to Use 1. Add the "Double RSI" indicator to your TradingView chart. 2. Customize the input parameters according to your preferences, such as the lengths of the fast and slow RSIs and the smoothing method. 3. The indicator will display two RSI lines on the chart, each with its own color. 4. Look for crossover events where the fast RSI line crosses above the slow RSI line, indicating a potential bullish signal. 5. Watch for crossunder events where the fast RSI line crosses below the slow RSI line, indicating a potential bearish signal. 6. The colored bands represent different RSI levels. When the RSI is in the overbought (high) or oversold (low) regions, it may suggest a potential reversal in price direction. ## Disclaimer Please remember that the Double RSI indicator is provided for informational purposes only and should not be considered as financial advice or a standalone trading strategy. Always perform your own research, use additional tools and indicators, and consider risk management techniques before making any trading decisions. **Note:** This code is subject to the terms of the Mozilla Public License 2.0. For more details, refer to the (mozilla.org).
Penunjuk Pine Script®
oleh Arun_K_Bhaskar
8
JSE Top 40 Comparative Relative Strength RSI OscillatorThis code is the result of an idea by @MarcoOlivano. The question was that if putting the comparative relative strength as an RSI oscillator would help in understanding the relative strength of the stock to the overall market? As we both trade the JSE I have made the JSE:J200 or Top 40 the basis for comparison. This can be changed in the settings dropdown if you want to compare with the All Share Index (JSE:J201) or other markets such as the S&P. On the chart above I have included the Comparative Relative Strength as a reference together with the Comparative Relative Strength RSI. If you use the indicator or adapt it please let me know if it works for you, how you use it and if it has any value.
Penunjuk Pine Script®
oleh SteynTrade
1
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.
Penunjuk Pine Script®
oleh bvdbeld2
Adaptive Relative Strength (ARS by Premal Parekh)Dear All, This is my first public script modified to adapt the concept of Mr. Premal Parekh on Adaptive Relative Strength - ARS) The original Script is developed by modhelius. I have proved the version as per my requirement and included concept of ARS. This script will remove the manual calculation task which is required on daily basis to calculate number of sessions from ARS Date. Hope this script will be helpful. If yes, do hit like button and share with your friends. Ashish Kesarkar India
Penunjuk Pine Script®
oleh ashxos
9
Jigga - Relative Strength - SectorsHi All !! I came across relative strength concept from below indicator. Indicator Name: (Relative-Strength by modhelius) Note: Sorry !! Could not add indicator url here. Formula: RelativeStrength = (sectorValue / sectorValue ) / (indexValue / indexValue ) - 1 * 100 I used same concept and combine all sector's relative strength against Nifty50 index. How to use: You can change length based on your convenience and show/hide sectors. Indicator will show strength line for that sector. you can use this to identify momentum stocks.
Penunjuk Pine Script®
oleh jigneshjc
2
ka66: Normalised/Relative VolumeThis is an idea taken from a John Bollinger (of Bollinger Bands fame) talk. Instead of showing volume with a moving average overlay, we show volume relative to its moving average: avgVolume = sma(volume, 10) // several configurable MAs allowed relativeVolume = volume / avgVolume Now if we get a value of 1, that means the current volume is the same as its historical average. Under 0, less than average, and above zero, greater than its average. If we get a value like 2, then current volume is twice its average. I hope the implication of this being displayed visually is becoming clearer. We plot this relative volume as columns. We then plot horizontal levels, like 1, 2, 3 to see the magnitude of the current volume relative to its average. Consecutive rising or falling relative volume is shown in the same colour. I am still exploring volume as trading data point, but we see some ideas from this visual representation: How do volume patterns change across timeframes? Do we get better signals or higher or lower time frames (e.g. big relative volume spikes) Can consecutive rises or falls indicate a big potential move, even though price is just fluctuating. What about a switch from rise to fall. If we get pinbars/spikes with a big relative volume spike, can we then infer more clearly whether buyers or sellers are in control.
Penunjuk Pine Script®
oleh ka66
Relative Strength Exponential Moving Average [CC]The Relative Strength Exponential Moving Average was created by Vitali Apirine (Stocks and Commodities Jan 2022 pgs 22-25) and this is a handy moving average that combines a typical overbought/oversold mechanic with an overall trend indicator. Even though the typical length is so large it reacts extremely quickly when the stock becomes overbought or oversold. Because of this the indicator by itself doesn't work as well during choppy periods so Vitali recommends using a moving average crossover system during choppy so do one indicator with the default length of 50 and use a different length of 10 so when the shorter length crosses over the longer length then buy and vice versa you would sell. Generally speaking buy when the line turns green and sell when it turns red. I have used strong buy and sell signals in addition to normal signals so strong signals are darker in color and normal signals are lighter in color. Let me know if there are any other scripts or indicators you would like me to publish!
Penunjuk Pine Script®
oleh cheatcountry
6
Sectors Relative Strength Normal DistributionI wrote this indicator as an attempt to see the Relative Strengths of different sectors in the same scale, but there is also other ways to do that. This indicator plots the normal distribution for the 10 sectors of the SPY for the last X bars of the selected resolution, based on the selected comparative security. It shows which sectors are outperforming and underperforming the SPY (or any other security) relatively to each other by the given deviation.
Penunjuk Pine Script®
oleh Piet.Hein
7
Kairi Relative Index Leading IndicatorHere is a leading indicator based on the relatively obscure Kairi Relative Index. The Kairi comes from Japan and is similar to the popular RSI, although it is believed that it predates the RSI significantly. The Kairi measures the difference between the current price and its SMA as a percentage of the moving average. We made a few modifications to the Kairi to improve its timing and balance its sensitivity. First, we calculated a 'fast' and 'slow' Kairi Relative Index. To do this, it calculates the difference between the current price and a SMA with a length of 7 periods for the fast Kairi. Then, the difference between the current price and an SMA of length 24 is calculated for the slow Kairi. The big modification is using a 25 period SMA of slow Kairi Relative Index values as the threshold for buy and sell signals. When the fast Kairi line crosses above the white line(the threshold) it is considered a bullish signal, while a bearish signal comes when it crosses back below the same white line. This solved the issue with the Kairi having slower reaction time than the RSI. As the chart shows, this setup allowed it to catch not only major trends but also predict unexpected price spikes. Users can adjust all 3 lengths, as well as adjust the option to have the slow Kairi displayed on the chart(shown in second pane).
Penunjuk Pine Script®
oleh ProfitProgrammers
6
Relative volume zone + Smart Order Flow Dynamic S/ROverview: The Relative Volume Zone + Smart Order Flow with Dynamic S/R indicator is designed to help traders identify key trading opportunities by combining multiple technical components. This script integrates relative volume analysis, order flow detection, VWAP, RSI filtering, and dynamic support and resistance levels to offer a comprehensive view of the market conditions. It is particularly effective on shorter timeframes (M5, M15), making it suitable for scalping and day trading strategies. Key Components: 1. Relative Volume Zones: • The script calculates the relative volume by comparing the current volume with the average volume over a defined lookback period (volLookback). When the relative volume exceeds a specified multiplier (volMultiplier), it indicates a high volume zone, signaling potential accumulation or distribution areas. • Purpose: Identifies high-volume trading zones that may act as significant support or resistance, indicating possible entry or exit points. 2. Smart Order Flow Analysis: • The indicator uses Volume Delta (the difference between buying and selling volume) and a Cumulative Delta to detect order imbalances in the market. • Order Imbalance is identified using a moving average of the Volume Delta (orderImbalance), which helps highlight hidden buying or selling pressure. • Purpose: Reveals market sentiment by showing whether buyers or sellers dominate the market, aiding in the identification of trend reversals or continuations. 3. VWAP (Volume Weighted Average Price): • VWAP is calculated over a default daily length (vwapLength) to show the average price a security has traded at throughout the day, based on both volume and price. • Purpose: Provides insight into the fair value of the asset, indicating whether the market is in an accumulation or distribution phase. 4. RSI (Relative Strength Index) Filter: • RSI is used to filter buy and sell signals, preventing trades in overbought or oversold conditions. It is calculated using a specified period (rsiPeriod). • Purpose: Reduces false signals and improves trade accuracy by only allowing trades when RSI conditions align with volume and order flow signals. 5. Dynamic Support and Resistance Levels: • The script dynamically plots support and resistance levels based on recent swing highs and lows (swingLookback). • Purpose: Identifies potential reversal zones where price action may change direction, allowing for more precise entry and exit points. How It Works: • Buy Signal: A buy signal is generated when: • The price enters a high-volume zone. • The price crosses above a 5-period moving average. • The cumulative delta shows more buying pressure (cumulativeDelta > SMA of cumulativeDelta). • The RSI is below 70 (not in overbought conditions). • Sell Signal: A sell signal is generated when: • The price enters a high-volume zone. • The price crosses below a 5-period moving average. • The cumulative delta shows more selling pressure (cumulativeDelta < SMA of cumulativeDelta). • The RSI is above 30 (not in oversold conditions). • Dynamic Support and Resistance Lines: Drawn based on recent swing highs and lows, these lines provide context for potential price reversals or breakouts. • VWAP and Order Imbalance Lines: Plotted to show the average traded price and highlight order flow shifts, helping to validate buy/sell signals. How to Use: 1. Apply the Indicator: Add the script to your chart and adjust the settings to match your trading style and preferred timeframe (optimized for M5/M15). 2. Interpret the Signals: Use the buy and sell signals in conjunction with dynamic support/resistance, VWAP, and order imbalance lines to identify high-probability trade setups. 3. Monitor Alerts: Set alerts for significant order flow events to receive notifications when there is a positive or negative order imbalance, indicating potential market shifts. What Makes It Unique: This script is unique because it combines multiple market analysis tools — relative volume zones, smart order flow, VWAP, RSI filtering, and dynamic support/resistance — to provide a well-rounded, multi-dimensional view of the market. This integration allows traders to make more informed decisions by validating signals across various indicators, enhancing overall trading accuracy and effectiveness.
Penunjuk Pine Script®
oleh TradeTechanalysis
Relative Volume (rVol), Better Volume, Average Volume ComparisonThis is the best version of relative volume you can find a claim which is based on the logical soundness of its calculation. I have amalgamated various volume analysis into one synergistic script. I wasn't going to opensource it. But, as one of the lucky few winners of TradingClue 2. I felt obligated to give something back to the community. Relative volume traditionally compares current volume to prior bar volume or SMA of volume. This has drawbacks. The question of relative volume is "Volume relative to what?" In the traditional scripts you'll find it displays current volume relative to the last number of bars. But, is that the best way to compare volume. On a daily chart, possibly. On a daily chart this can work because your units of time are uniform. Each day represents a full cycle of volume. However, on an intraday chart? Not so much. Example: If you have a lookback of 9 on an hourly chart in a 24 hour market, you are then comparing the average volume from Midnight - 9 AM to the 9 AM volume. What do you think you'll find? Well at 9:30 when NY exchanges open the volume should be consistently and predictably higher. But though rVol is high relative to the lookback period, its actually just average or maybe even below average compared to prior NY session opens. But prior NY session opens are not included in the lookback and thus ignored. This problem is the most visibly noticed when looking at the volume on a CME futures chart or some equivalent. In a 24 hour market, such as crypto, there are website's like skew can show you the volume disparity from time of day. This led me to believe that the traditional rVol calculation was insufficient. A better way to calculate it would be to compare the 9:30 am 30m bar today to the last week's worth of 9:30 am 30m bars. Then I could know whether today's volume at 9:30 am today is high or low based on prior 9:30 am bars. This seems to be a superior method on an intraday basis and is clearly superior in markets with irregular volume This led me to other problems, such as markets that are open for less than 24 hours and holiday hours on traditional market exchanges. How can I know that the script is accurately looking at the correct prior relevant bars. I've created and/or adapted solutions to all those problems and these calculations and code snippets thus have value that extend beyond this rVol script for other pinecoders. The Script This rVol script looks back at the bars of the same time period on the viewing timeframe. So, as we said, the last 9:30 bars. Averages those, then divides the: . The result is a percentage expressed as x.xxx. Thus 1.0 mean current volume is equal to average volume. Below 1.0 is below the average and above 1.0 is above the average. This information can be viewed on its own. But there are more levels of analysis added to it. Above the bars are signals that correlate to the "Better Volume Indicator" developed by, I believe, the folks at emini-watch and originally adapted to pinescript by LazyBear. The interpretation of these symbols are in a table on the right of the indicator. The volume bars can also be colored. The color is defined by the relationship between the average of the rVol outputs and the current volume. The "Average rVol" so to speak. The color coding is also defined by a legend in the table on the right. These can be researched by you to determine how to best interpret these signals. I originally got these ideas and solid details on how to use the analysis from a fellow out there, PlanTheTrade. I hope you find some value in the code and in the information that the indicator presents. And I'd like to thank the TradingView team for producing the most innovative and user friendly charting package on the market. (p.s. Better Volume is provides better information with a longer lookback value than the default imo) Credit for certain code sections and ideas is due to: LazyBear - Better Volume Grimmolf (From GitHub) - Logic for Loop rVol R4Rocket - The idea for my rVol 1 calculation And I can't find the guy who had the idea for the multiples of volume to the average. Tag him if you know him Final Note: I'd like to leave a couple of clues of my own for fellow seekers of trading infamy. Indicators: indicators are like anemometers (The things that measure windspeed). People talk bad about them all the time because they're "lagging." Well, you can't tell what the windspeed is unless the wind is blowing. anemometers are lagging indicators of wind. But forecasters still rely on them. You would use an indicator, which I would define as a instrument of measure, to tell you the windspeed of the markets. Conversely, when people talk positively about indicators they say "This one is great and this one is terrible." This is like a farmer saying "Shovels are great, but rakes are horrible." There are certain tools that have certain functions and every good tool has a purpose for a specific job. So the next time someone shares their opinion with you about indicators. Just smile and nod, realizing one day they'll learn... hopefully before they go broke. How to forecast: Prediction is accomplished by analyzing the behavior of instruments of measure to aggregate data (using your anemometer). The data is then assembled into a predictive model based on the measurements observed (a trading system). That predictive model is tested against reality for it's veracity (backtesting). If the model is predictive, you can optimize your decision making by creating parameter sets around the prediction that are synergistic with the implications of the prediction (risk, stop loss, target, scaling, pyramiding etc). <3
Penunjuk Pine Script®
oleh kurtsmock
74
MM Relative Volume (RVOL)What this script does: This script shows you the "Relative Volume" (RVOL) value up to the current minute. RVOL is the volume from market open up to the current minute today, compared to the average of the same over the last n (30 by default) days. How this script works: There are a lot of indicators out there for RVOL, but they all take shortcuts that result in sub-par data. This indicator goes the distance to store data for every minute for the last n days for the current chart, then in sums the volume up to the current minute today along with the average of the same up-to-the-minute data from the prior n days to calculate the relative volume of the stock. It's super important to get this data up to the current minute, because most traders use this information primarily during the first 90 minutes of trading, and need to know if this value is going up or down. How to use this script: Relative volume can be used to gauge how "In Play" a stock is. If RVOL is less than 1 it is not "In Play" on this trading day and you might not want to trade it. If RVOL is above 2, it is "In Play" and you may want to trade it. When stocks are very "In Play", you can see an RVOL of 5 and above. The higher the RVOL the more "In Play" the stock is. You can also used RVOL for position sizing. If RVOL is <1 you may decide not to take a large position in the name. If RVOL is >3, this may give you more confidence to take a larger position as more reward and more liquidity should be present. What makes this script original: This particular implementation of RVOL has never been done before on TradingView to my knowledge. Most other indicators use a rolling average of the prior 30 days which is much easier to do, but this doesn't actually work properly because instead of getting large volume spikes from prior days filtered out correctly, it takes a LOT longer for those to even out as the rolling average eventually smooths down. Instead, with this indicator, any large/small volume days will truly drop off after the moving average length and the calculated average daily volume (ADV) will be accurate up to the minute. For more details on the original concept behind this indicator, check out the blog linked on my profile.
Penunjuk Pine Script®
oleh jmosullivan
10
Relative Strength NSE:Nifty for TF CommunityThis is a modified version of the Relative Strength Indicator (No confusion with RSI) originally by in.tradingview.com/u/modhelius/ based on The indicator calculates the relative strength between a selected stock and a comparative symbol (typically a market index like NSE:NIFTY). Relative strength (RS) compares the performance of two assets, typically a stock and a market index, by dividing their percentage changes over a specific period. This indicator oscillates around zero: - Greater than 0: Indicates the stock has outperformed the comparative symbol. - Less than 0: Indicates the stock has underperformed the comparative symbol. Key Enhancements: This Relative Strength Indicator offers practical features to automatically adjusts the comparison period based on the chart’s timeframe, whether daily, weekly, or monthly, so you don’t have to make manual changes. Secondly, if the selected stock has fewer bars than the comparison period, the indicator uses the shorter period to ensure accurate results. The default colors are hardcoded so they look fine for both dark and white themes, but of course can be changed. You can customise the settings to fit your needs. The default period is set to 50/52, and the comparative symbol is NSE:NIFTY, but both can be changed. There’s also an option to toggle a moving average on or off, providing a smoother visual representation.
Penunjuk Pine Script®
oleh nithinLearns
Candle Strength based on Relative Strength of EMAOverview: The EMA-Based Relative Strength Labels indicator provides a dynamic method to visualize the strength of price movements relative to an Exponential Moving Average (EMA). By comparing the current price to the EMA, it assigns labels (A, B, C for bullish and X, Y, Z for bearish) to candles, indicating the intensity of bullish or bearish behavior. Key Features: Dynamic EMA Comparison: The indicator calculates the difference between the current price and the EMA, expressing it as a percentage to determine relative strength. Configurable Thresholds: Users can set custom thresholds for strong, moderate, and low bullish or bearish movements, allowing for tailored analysis based on personal trading strategy or market behavior. Clear Visual Labels: Each candle is labeled directly on the chart, making it easy to spot significant price movements at a glance. Usage: Trend Confirmation: The labels help confirm the prevailing trend's strength, aiding traders in decision-making regarding entry or exit points. Risk Management: By identifying the strength of the price movements, traders can better manage stop-loss placements and avoid potential false breakouts. Strategy Development: Incorporate the indicator into trading systems to enhance strategies that depend on trend strength and momentum. How It Works: The script calculates the EMA of the closing prices and measures the relative strength of each candle to this average. Bullish candles above the EMA and bearish candles below the EMA are further analyzed to determine their strength based on predefined percentage thresholds. Labels 'A', 'B', and 'C' are assigned for varying degrees of bullish strength, while 'X', 'Y', and 'Z' denote levels of bearish intensity. Customization: Users can adjust the EMA period and modify the strength thresholds for both bullish and bearish conditions to suit different instruments and timeframes. Best Practices: Combine this indicator with volume analysis and other technical tools for comprehensive market analysis. Regularly update the thresholds based on market volatility and personal risk tolerance to maintain the effectiveness of the labels.
Penunjuk Pine Script®
oleh bnsk1990rulz
Relative Performance of stock against nifty & bank niftyThe code calculates the relative performance of Nifty and Bank Nifty and plots it on a chart. It also calculates the 14-day RSI and a moving average of the relative performance. First, the script retrieves the daily close prices for Nifty and Bank Nifty from the NSE using the request.security() function. It then calculates the daily returns for each index and the average returns over a specified lookback period. The relative performance is then calculated as the difference between the current close price and its moving average, expressed as a percentage of the moving average, minus the average daily returns of Nifty and Bank Nifty. The script then calculates the 14-day RSI using the ta.rsi() function and plots the relative performance on the chart in green color. A signal line at zero is also plotted in black color. Additionally, the moving average of the relative performance is plotted on the chart using the ta.sma() function and an input variable called "interval" is used to specify the number of bars to use for the moving average. Finally, the script sets the color of the chart bars based on the relative performance and RSI values. If the relative performance is above the moving average and the RSI is above 50, the color of the bars is set to yellow. If the relative performance is below the moving average and the RSI is below 50, the color of the bars is set to a shade of purple.
Penunjuk Pine Script®
oleh Tradernawab
RELATIVE VALUE TRADE MANAGEMENT WEBHOOKThis script it's created to send open-close signals via webhook. It allows you to open a relative value position based in the relative graph. You can set the TP and SL levels and the script will send the signal to your exchange. Due a pine limitations it is necessary apply the script in the 2 different actives and set the alerts. You can just do the relative analysis and then go to the first asset and set the script. Create your alert and then just go to the other asset and create the alert. It doesn't necessary to change anything in the script because the levels are the same. It is also possible to do the analysis using the script, deploying the relative graph, but could be annoying sometimes due scales. Positions will be placed at close always. THIS IS IMPORTANT: I use Zignaly as a exhange so if you are using Binance or other YOU MUST CHANGE the code. If you know the JSON format that It requires would be easy. Here is tips in all the important imputs. But let me explain the most important. The MANDATORY fields are: Ticker IDs: Here you must write the EXACT ID code for the active. Caps included. Example : BINANCE:SUSHIUSDTPERP It is also important select the correct market side. If you want to be long of ANY active you must write that ID in the LONG ID. For short positions is the same. Time frame: Here you can select the time frame of the graph (not the current active graph, I mean the relative one.) The orders will be send using that time frame. I recommend to do the analysis in other window and then use the script to trigger the order in the time frame that you want. Money management: In these fields you can select the qty that you will lose if the SL level is reach. Based in a determinated amount of currency or in a % of your capital. Dates: It is important to select the start date. If the order is already open, we must look for the moment where the activation price was reached. If the order is unopened it is better to select the current date, so the order will be triggered when the entry level is reached. Ids: If you have current open position you can set here that ID to send the correct order to the exchange. To set the alert just call the function {{{strategy.order.alert_message}}}
Strategi Pine Script®
oleh ExpensiveJok
Relative Strength Volatility Adjusted Ema [CC]The Relative Strength Volatility Adjusted Exponential Moving Average was created by Vitali Apirine (Stocks and Commodities Mar 2022) and this is his final indicator of his recent Relative Strength series. I published both of the previous indicators, Relative Strength Volume Adjusted Exponential Moving Average and Relative Strength Exponential Moving Average This indicator is particularly unique because it uses the Volatility Index (VIX) symbol as the default to determine volatility and uses this in place of the current stock's price into a typical relative strength calculation. As you can see in the chart, it follows the price much closer than the other two indicators and so of course this means that this indicator is best for choppy markets and the other two are better for trending markets. I would of course recommend to experiment with this one and see what works best for you. I have included strong buy and sell signals in addition to normal ones so strong signals are darker in color and normal signals are lighter in color. Buy when the line turns green and sell when it turns red. Let me know if there are any other indicators or scripts you would like to see me publish!
Penunjuk Pine Script®
oleh cheatcountry
5
Relative Strength RatioAbout this indicator: This indicator goes under many different names such as Relative Strength Ratio, Comparative Strength, Relative Strength Comparison (RSC) etc. It compares the strength of the current asset to another asset of your choice and displays the relative strength of the current asset. (Not RSI) There are several comparative indicators published already here on TV but I have added some unique features that I think is really useful. When to use it: This is useful when you want to compare for example a stock with its sector to find out if the stock is a leadership stock in that sector or main index. You could also use it to compare the sector to its index etc. If you want to compare for example a stock to both its index and its sector at the same time I suggest you add 2 instances of this indicator. In many trading systems you are supposed find the strongest tickers by identifying "layers of strength" like 1. The strongest asset class that money is flowing into (like stocks, commodities, bonds, etc.) 2. Find the strongest sectors. 3. Find the stocks outperforming those sectors. 4. Find some kind of entry signal there. How it works: The indicator calculates an "RS line" (Relative Strength) by dividing the current ticker with a ticker of your choice. This creates a ratio or pair similar to how currencies are related to each others like USDGBP (dollar against pound). The RS line is black by default so you might want to change its color if you use a dark theme. If the RS line is moving up it means your current asset is stronger than the asset you are comparing it with and vice versa. Use the simple moving average to quickly see long term strength trends. Features RS line Shows the relative strength of the current asset. SMA This Simple Moving Average has directional coloring; green when it is angled up and red when it is angled down. You can customise the period in the settings. If you don't want the color change just make both up/down color the same. Relative market label This displays the market you are currently comparing with as a label next to the last data point. Because I tried stocks in 2 different countries I want to know which index I am comparing with and this label saves me from going into the settings to check. I find it to be a life saver! Please let me know if you find any problems or if you have any ideas for improvement
Penunjuk Pine Script®
oleh colicoid
7
Relative Strength MA ConfluenceThis indicator highlights price candles when two custom moving averages of relative strength vs a benchmark (e.g., SPY or BTC) are both trending positively. Full confluence: Occurs when the asset's relative strength is above both a short- and long-term MA (default: 21 & 50). Green candles and a triangle-up icon mark when full confluence begins. Red triangle-down marks when confluence is lost. 🔧 All settings — including MA type (SMA or EMA), lengths, benchmark symbol, and visual toggles — are fully customizable. Ideal for swing traders seeking strong trend confirmation based on outperformance relative to a benchmark.
Penunjuk Pine Script®
oleh kondor_trades