Powerful tool to calculate and display the strength of a security compared to another security.
Some Main purposes are:
- finding new leadership in a market correction
- comparing a market leader with a top competitor
- tracking rotation in the market
.. and so much more!
This tool is highly configurable, you can especially change:
- The reference symbol (SPY,...
First script I've written, but the concept is pretty simple. This uses the MACD with settings fast_SMA = 6 and slow SMA=16 and uses the distance between the 2 (histogram) to look for potential trend reversals to flag potential entries for Long trades. It waits for the confirmation looking backward 2 x timeframes (to reduce false calls slightly). You can adjust it...
This script will allow users to view Multiple RSI timeframes in one indicator (up to 4). This can be useful for viewing RSI Convergences/Divergences and extremely long timeframes like 250 days can provide context to market strength over long positions.
The Price Relative indicator compares the performance of one security to another. This indicator can be used to compare the performance of a stock against a benchmark index, such as the S&P 500, or its sector/industry group. This makes it possible to determine if a stock is leading or lagging its peers.
The Price Relative is used to gauge relative strength, which...
In the S&C September 2020 article “Tracking Relative Strength In Four Dimensions”, James Garofallou presents a metric for evaluating a security’s strength relative to 11 major market sectors and over several time periods. All this information is squeezed into a single value. Maybe at cost of losing other important information? In this article we’ll look into how...
Periodic price change.
Sector rotation analysis by comparing different tickers.
Simple statistical analysis (with lookback period) for knowing how good they were.
If you are a believer in sector rotation, you can add different sector stocks to see which of them are lagged behind and buy them.
In this example, you could see tesla periodically fall...
Plots in a single indicator the Bitcoin RSI of multiple exchanges. The selected exchanges are Bitmex, Binance and Coinbase. The reason is that these are the ones with the highest 24h volume (coinmarketcap) and have a ticker available in Trading View.
One drawback with this indicator is that it doesn't automatically adjusts its resolution when the Bitcoin chart is...
This currency strength indicator displays the strength for the displayed currency pair only.
The following currencies are supported: AUD, CAD, CHF, EUR, GBP, JPY, NZD, USD
Base currency is indicated by a blue line. Counter currency by a green line.
Double click on a line to open the settings window to change line colors or the possition of the dashed lines.
This is an updated version to the Currency Strength Measurer I created before. I'm not updating that script due to differences in the features and in the idea. The original script was a lagging indicator, I hope that this one is more of a leading indicator, the idea is the same. This indicator has way fewer inputs and it's more lightweight. Try it and compare it...