Comparative Relative Strength - HongQuanTrader

This script is designed to enhance your trading strategy by comparing the current symbol with another comparative symbol. The goal is to trade a symbol only when its Relative Strength (RS) value surpasses the long moving average of the RS value, ensuring more informed and strategic trading decisions.

Default Mode

In the default mode, the RS value is calculated by simply dividing the base symbol by the comparative symbol:

Pine Script®

RS_SIMPLE = baseSymbol / comparativeSymbol

Period Mode
When you enable the “use period” option, the script uses the RS_PERIOD equation. This mode is particularly useful for comparing multiple symbols against the same comparative symbol, with the output normalized around 1.0 for easier comparison:

Pine Script®

RS_PERIOD = baseSymbol / baseSymbol[rsPeriod] / (comparativeSymbol / comparativeSymbol[rsPeriod])

By leveraging these calculations, you can gain deeper insights into the relative performance of different symbols, allowing you to make more precise and confident trading decisions. Whether you’re comparing stocks, currencies, or any other assets, this script provides a robust framework for enhancing your trading strategy.

릴리즈 노트

fix: Do not plot the horizontal line if not using RS_PERIOD method

릴리즈 노트

refactor: remove unnecessary code

릴리즈 노트

feat: add track line of RS line

릴리즈 노트

chore: add title for long and short moving average lines

릴리즈 노트

chore: add title for line 1.0 in RS Period mode

릴리즈 노트

Update to fix chart rules