Relative Strength

2018년 6월 15일

Relative strength is a ratio between two assets, most often a stock and a market average (index). This implementation uses the method described here and the second method described here to calculate its value: "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". This indicator oscillates around zero. If the value is greater than zero, the investment has been relatively strong during the selected period; if the value is less than zero, the investment has been relatively weak. The period and the comparative symbol can be set in the settings for the indicator (the defaults are 50 and SPX), there you can also find an option to turn on a moving average.

2020년 7월 3일

릴리즈 노트

Update to Pine Script Version 4 and add resolution to study.

2024년 2월 9일

릴리즈 노트

Update: Convert to Pine Script version 5