INVITE-ONLY SCRIPT
TMO of Relative Strength
This indicator shows 3 TMOs, one for the charted symbol, one for a chosen index symbol, and one for the relative strength ratio of the 2 symbols.
While a normal TMO measures momentum of a stock, this indicator measures the subtle momentum shifts that happen in the relative strength ratio of the stock, which can sometimes happen before the momentum of the stock itself shifts. This provides the potential for an early warning that a move may be about to begin, even before the stock price starts heading in one direction.
Many traders watch relative strength ratio charts to see when a stock begins to outperform the index. This indicator doesn't measure the relative or comparative strength ratio itself, but instead measures the change in momentum of relative strength.
Signals and alerts are provided for when the Ratio's TMO line crosses above/below the Stock's TMO line, or the Market Index's TMO line, and also for when the Stock's TMO line crosses above/below the Market's TMO line even if the ratio isn't crossing currently. Also alerts when the Ratio or Stock TMO lines cross their prior values.
I created a version of this for Thinkorswim originally and it has been valuable to me and my clients, so I hope it provides value here as well.
-Josiah
While a normal TMO measures momentum of a stock, this indicator measures the subtle momentum shifts that happen in the relative strength ratio of the stock, which can sometimes happen before the momentum of the stock itself shifts. This provides the potential for an early warning that a move may be about to begin, even before the stock price starts heading in one direction.
Many traders watch relative strength ratio charts to see when a stock begins to outperform the index. This indicator doesn't measure the relative or comparative strength ratio itself, but instead measures the change in momentum of relative strength.
Signals and alerts are provided for when the Ratio's TMO line crosses above/below the Stock's TMO line, or the Market Index's TMO line, and also for when the Stock's TMO line crosses above/below the Market's TMO line even if the ratio isn't crossing currently. Also alerts when the Ratio or Stock TMO lines cross their prior values.
I created a version of this for Thinkorswim originally and it has been valuable to me and my clients, so I hope it provides value here as well.
-Josiah
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僅作者批准的使用者才能訪問此腳本。您需要申請並獲得使用許可，通常需在付款後才能取得。更多詳情，請依照作者以下的指示操作，或直接聯絡easycators。
TradingView不建議在未完全信任作者並了解其運作方式的情況下購買或使用腳本。您也可以在我們的社群腳本中找到免費的開源替代方案。
作者的說明
To buy this script, simply use this Paypal link https://paypal.me/josiahredding/100 to send $100, and add your TradingView username in the comment field. I will then add your username to the access list within 1 day and you'll have access indefinitely.
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
僅限邀請腳本
僅作者批准的使用者才能訪問此腳本。您需要申請並獲得使用許可，通常需在付款後才能取得。更多詳情，請依照作者以下的指示操作，或直接聯絡easycators。
TradingView不建議在未完全信任作者並了解其運作方式的情況下購買或使用腳本。您也可以在我們的社群腳本中找到免費的開源替代方案。
作者的說明
To buy this script, simply use this Paypal link https://paypal.me/josiahredding/100 to send $100, and add your TradingView username in the comment field. I will then add your username to the access list within 1 day and you'll have access indefinitely.
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。