Short & Long Relative Strength

Relative Strength (RS) is a method of identifying stocks which are relatively stronger or weaker as compared the market as a whole or to a relevant benchmark.

To calculate the relative strength of a particular stock, divide the percentage change over some time period by the percentage change of a particular index over the same time period.

The value of RS Indicator oscillates around zero. If value of RS is above ZERO then security is outperforming the benchmark and if value of RS is below ZERO then security is outperforming the benchmark.

Here i have used two RS indicator lines in one indicator - Short Term RS (default value is 65) and Long Term RS (default value is 123).

I have set default benchmark index as Nifty 50 (NSE:NIFTY)

本著真正的TradingView精神,該腳本的作者將其開源發布,以便交易者可以理解和驗證它。為作者喝彩吧!您可以免費使用它,但在出版物中重複使用此代碼受網站規則的約束。 您可以收藏它以在圖表上使用。