Sector/Market Relative Strength Indicator (SMRS) shows in one layout the relative strength of an asset against it's Sector and Market. By default smoothed by EMA, however EMA can be disabled to see spot on strength with 'Relative Strength steps back' set to 1.
This indicator is at experimental stage and might be updated soon.
Green column: Base asset is stronger than market/sector. Red Column: Base asset is weaker than than market/sector. Bottom line (squares): Green- Sector is stronger than market. Red- Sector is weaker than market. Affected only by Sector and Market symbols that are defined in indicator settings!
Notes ------- * Useful only with securities (not forex, cryptocurrencies,etc..) * Market and sectors needs to be defined in indicator settings.
For any suggestion/comment write me.
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Added "XLC Communication" Minor cleanup.
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Screenshot update.
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Added Real Estate sector. Minor code optimization.
Many Thanks to you . This is a bright idea, easing the search for well-performing stocks in the strong sectors. Definitely will test it in my searches.
gift2022
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감사합니다
hariva77
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Hello, could you please add the Real Estate sector (XLRE)?