RS by Equity Gurukul

This indicator plots the Relative Strength (RS) of the current symbol against a chosen benchmark (default: NSE:NIFTYMIDSML400). It also overlays a customizable Moving Average (MA) on the RS line for trend confirmation.

Key Features:

RS Line: Ratio of stock price vs. benchmark.

RS MA: Customizable Moving Average (default 21; choose SMA or EMA).

RS Phase Fill: Background shading highlights when RS is above its MA (outperformance) or below its MA (underperformance).

RS New High Detection: Marks points where RS makes a new high (within user-defined lookback) while price has not yet broken its own high → signaling potential early strength.

This tool helps visualize relative performance trends, identify emerging leaders, and spot early breakouts before they reflect in price.

⚠️ Disclaimer

This indicator is for educational purposes only and is not financial advice.
It is a research and practice tool designed to illustrate concepts of relative strength analysis. Please do your own due diligence and consult a licensed financial advisor before making any trading or investment decisions.