Comparative Strength [FT]This indicator calculates the comparative strength between 2 variables by subtracting them instead of division/ratio.
Example:
A is stronger than B, then if A-B, it would be positive because value A is bigger than B.
A is weaker than B, then when A-B, this would be negative because A is lower than B.
What it does:
It takes the difference of averages of variable A (ie: stock), and the same for variable B (ie: index), and then the result of those is substracted to get a value.
Why is this indicator useful ?
To visualise comparative values between 2 related variables. IE: stock-index, stock-commodities, forex-interest rates, forex-bond, forex-inflation.
DISCLAIMER: Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security, investment, currencies or assets.
렐러티브 스트렝쓰 컴패리즌
Dominion - Bitcoin Altcoin Dominance [mutantdog]A simple and easy reference tool displaying a plot of the market cap dominance values for several significant cryptocurrencies.
The most widely used of these is bitcoin dominance (the top indicator shown above) which calculates the total market cap of bitcoin in relation to the total cryptocurrency market cap, displayed as a percentage. This is commonly used by traders to assess the strength of bitcoin in relation to the broader crypto market; increasing values being indicative of larger bitcoin moves and decreasing values often indicative of potential altcoin cycles. Likewise, ethereum dominance (the bottom indicator shown above) is frequently used as a means to indicate the strength of ethereum in relation to the broader crypto market.
Included options for marketcap dominance values are:
Bitcoin : CRYPTOCAP:BTC.D
Ethereum : CRYPTOCAP:ETH.D
Total DeFi (a composite of multiple top defi tokens): CRYPTOCAP:TOTALDEFI.D
Stablecoins (shows the combined dominance values for usdt and usdc): CRYPTOCAP:USDT.D + CRYPTOCAP:USDC.D
Flippening (shows the difference between bitcoin and ethereum dominance values): CRYPTOCAP:BTC.D - CRYPTOCAP:ETH.D
When used in combination with each other, these can provide a good overview of the general flow of capital within the crypto market.
Additional functionality:
up to three optional moving averages with a choice of SMA, EMA, WMA and RMA for each.
multi timeframe selector
alert condition presets for various moving average crosses.
Please be aware that, while useful as reference, dominance calculations are known to repaint frequently. As such the use of this indicator and its alerts should require caution.
NVTNetwork Value to Transactions Ratio (NVT) is defined as the ratio of market capitalization divided by transacted volume.
NVT Ratio can be thought of as an indicator that measures whether the blockchain network is overvalued or not.
If it is upper than red line, it means overvalued.
NVT Golden Cross targets to generate short or long signals by comparing the short-term trend of NVT and the long-term trend of NVT. If the short-term trend is way greater than the long-term trend is, the network can be interpreted as overpriced and will soon revert to mean value, meaning short signal. Similarly, the opposite case may imply a long signal.
Over the red line is short signal and under the green line is long signal.
You can find divergence in this indicator.
There are two sources
cryptocap
glassnode
Adaptive Relative Strength (ARS by Premal Parekh)Dear All,
This is my first public script modified to adapt the concept of Mr. Premal Parekh on Adaptive Relative Strength - ARS)
The original Script is developed by modhelius.
I have proved the version as per my requirement and included concept of ARS.
This script will remove the manual calculation task which is required on daily basis to calculate number of sessions from ARS Date.
Hope this script will be helpful.
If yes, do hit like button and share with your friends.
Ashish Kesarkar
India
Relative Strength Improved (Premal Parekh ASR Version)This script is improved over the existing script developed by Mr. modhelius
I have added ASR Concept of Mr. Premal Parekh.
This script will remove manual calculation of Trading Days from ASR Date.
Ratio (Relative Strength) & EMAsRatio (Relative Strength) & EMAs
This indicator is used to compare the actual symbol with another one by calculating the ratio. EMA1 and EMA2 of the ration are shown as well. The idea is to choose an index like the NDX or SPX for comparison and to determine if the actual symbol outperforms the index or not - separate the wheat from the chaff. The rules are as follow:
When the calculation ratio (symbol divided ratio symbol) is above EMA1 and EMA1 is above EMA2) the background turs green. If not the background turn red.
Relative Strength (IBD Style)This script is meant to give you a Relative Strength indication of the stock. The goal is to use a similar calculation as used by IBD.
It calculates the performance of the current stock for the last year (most recent quarter is weighted double) and compares it to the performance of a reference index or ticker (default is "SPY").
IBD would give you a value between 0 and 100 because this value is the percentile within all stocks. This is not possible with Pine Script at the moment.
So here you get a Relative Strength value that is >0 if the stock is stronger than the index and <0 if it is weaker than the index.
You can still compare the Relative Strength values between stocks (bigger is better) but you won't know which percentile it is right off the bat.
Relative PerformanceThis indicator takes the Performance Table from @BeeHolder and converts it to a Relative Performance table so you can compare the current chart vs. an Index (or whatever other ticker you want) to see the relative performance of one vs. the other. I also added a cell for ADR, which is also the same value as "Monthly Volatility" in the stock screener. This can be useful when screening stocks based on performance and volatility.
QuantAnna: Relative Strength Plus (RS+)NSE:TATAMOTORS
Relative strength indicator which shows ratio between two stocks/assets .. usually between stock & its indices
features of indicator is as following.
1. Values oscillates around zero, it is bullish when above zero & bearish when below zero.
1. Weighted smoothing which removes unwanted whipsaws but keeps trend curve intact.
3. In-Built list of Nifty sector indices to show stocks comparison with its sector
please do send your feedback and suggestions.
Simple RSI tableThis is a simple RSI table for traders that don't want the graph, only the current value.
Location, thresholds, and colors are all adjustable.
Relative StrengthPowerful 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, QQQ, BTCUSD, ...)
- The time span to indicate a new High or Low in a certain time-frame
- Factorize your RS-Chart to make it fit to the original chart. (Moves the chart up or down)
- Option to repaint your candles / bars when a new RS High occurs in the given timeframe.
Enjoy and have a great day!
Powerful_Trading
Fixed Reference Ratio Charts (RSWarriors(R))A Ratio Chart, for analysis with any benchmark. This is the open source version of the earlier, Fixed Ref. Ratio indicator. This is the version that will be maintained in the future.
Plots a ratio of the symbol to benchmark. Plots, all time high ratios (orange bubbles), Increasing ratios (blue bubbles).
Detailed write up will be added in subsequent updates.
Ultimate RSIsThis RSI script includes everything you could want on an RSI. There are multiple timeframes which will give context to market movement, as well as a highlight feature to make it easier to visualize overbought and oversold stocks.
Tip: Uncheck the 4 plots with no color in them to remove the extra headers on the indicator.
Relative Strength ComparisonThis indicator compares the difference in percentage change between two symbols
over a user-specified number of bars.
Default settings will show the difference between the current symbol and the
S&P 500 ETF (SPY) over 10 bars. It can be used to determine if the stock is
showing relative strength or weakness compared to the overall market.
Altseason FinderTo know when to buy altcoins instead of bitcoin.
It is based on BTCUSD and BTC Dominance RSIs.
Multiple RSI LengthsThis 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.
MS CRB/SPYThis indicator tracks the GSCI Commodity Index over the course of the S&P 500. This is used for the fundamental evaluation of ratios of asset classes to each other. The thesis is based on Ray Dalio's quadrant theory: in periods without inflation and with good growth, stock prices rise and commodity prices fall. Conversely, in periods of good growth in an inflationary environment, commodities rise and the rise in equities slows. In particular, there is a change of favorites towards companies that produce cash (i.e. away from growth fantasies). This indicator shows the change in valuations between asset classes and thus allows conclusions to be drawn. This still goes far beyond what has been written, I recommend reading Ray Dalio's works on this.
Screener: Alpha & BetaThis is a Live Screener for my previous Alpha & Beta indicator, which filters stocks lively based on the given values.
Use 5min timeframe for Live Intraday.
The default stocks in the screener is selected based on high beta value from F&O listed stocks. It may include other stocks also.
User can input stocks of your choice either through the menu or through the Pine editor.
The maximum number of stocks inputs is only 40. The indicator includes only 20 stocks by default.
More number of stocks can be added but it makes the screener slower to load.
Open the indicator in a sperate tab or window to avoided the loading lag.
It is recommended to choose only 10 to 20 stocks based on the weightage from each sectors.
Beta values are dynamic. It changes from day to day based on the trend and sector.
Update the sock list weekly or twice a week or monthly.
Use investing.com screener(preferably) or TradingView screener for shortlisting beta stocks.
Remember that majority of indicators fails in a sideways market, also every indicator is not 100% accurate.
Relative Strength Comparison_FBMSCAPShows the strength of current symbol relative to strength of another symbol, defaulted to Bursa Malaysia broad market index: FBMSCAP. Best viewed in weekly chart.
Relative Strength RatioAbout this indicator:
This indicator goes under many different names such as Relative Strength Ratio, Comparative Strength, Relative Strength Comparison (RSC) etc.
It compares the strength of the current asset to another asset of your choice and displays the relative strength of the current asset. (Not RSI)
There are several comparative indicators published already here on TV but I have added some unique features that I think is really useful.
When to use it:
This is useful when you want to compare for example a stock with its sector to find out if the stock is a leadership stock in that sector or main index.
You could also use it to compare the sector to its index etc.
If you want to compare for example a stock to both its index and its sector at the same time I suggest you add 2 instances of this indicator.
In many trading systems you are supposed find the strongest tickers by identifying "layers of strength" like 1. The strongest asset class that money is flowing into (like stocks, commodities, bonds, etc.) 2. Find the strongest sectors. 3. Find the stocks outperforming those sectors. 4. Find some kind of entry signal there.
How it works:
The indicator calculates an "RS line" (Relative Strength) by dividing the current ticker with a ticker of your choice. This creates a ratio or pair similar to how currencies are related to each others like USDGBP (dollar against pound). The RS line is black by default so you might want to change its color if you use a dark theme.
If the RS line is moving up it means your current asset is stronger than the asset you are comparing it with and vice versa.
Use the simple moving average to quickly see long term strength trends.
Features
RS line
Shows the relative strength of the current asset.
SMA
This Simple Moving Average has directional coloring; green when it is angled up and red when it is angled down. You can customise the period in the settings. If you don't want the color change just make both up/down color the same.
Relative market label
This displays the market you are currently comparing with as a label next to the last data point.
Because I tried stocks in 2 different countries I want to know which index I am comparing with and this label saves me from going into the settings to check. I find it to be a life saver!
Please let me know if you find any problems or if you have any ideas for improvement
SectorsThis script attempts to show the relative strength of the 11 sectors in the SPX, which can be accomplished in three ways:
1. Sectors - displays all sector indices as they appear normally
2. Sector Relativity - displays each sector divided by the sum of the other 10 sectors
3. Sector Alpha - displays the alpha of each sector as compared to the sum of the other 10 sectors
I have seen some other iterations of this script that compare each sector to the SPX as a whole, a couple problems with that:
1. SPX sector weightings are unequal and change quarterly, meaning you will get an inaccurate depiction of relative sector strength across time.
2. Even if using an equal-weight SPX, you would be comparing a sector to itself as all 11 sectors are included in the SPX, not just the complementary 10 you are looking to compare one sector to.
For more information on the sectors in the SPX or the calculation of Alpha, visit the links at the top of the script.
*Includes an option for repainting -- default value is true, meaning the script will repaint the current bar.
False = Not Repainting = Value for the current bar is not repainted, but all past values are offset by 1 bar.
True = Repainting = Value for the current bar is repainted, but all past values are correct and not offset by 1 bar.
In both cases, all of the historical values are correct, it is just a matter of whether you prefer the current bar to be realistically painted and the historical bars offset by 1, or the current bar to be repainted and the historical data to match their respective price bars.
As explained by TradingView,`f_security()` is for coders who want to offer their users a repainting/no-repainting version of the HTF data.
MAVERICKAMIT01-RELATIVE STRENGTHTHE SCRIPT SIMPLY DIVIDES THE STOCK PRICE BY NIFTY TO MEASURE UNDER PERFORMANCE AND OUT PERFORMANCE WITH NIFTY. YOU CAN CHANGE SETTINGS FROM NIFTY TO ANY OTHER SECTOR LIKE CNX FMCG TO MEASURE SECTOR PERFORMANCE AND UNDER PERFORMANCE !!!
RS.ROC | Relative Strength - Rate of Changes - 4CR CUPFor completeness of Relative Strength studies, the Relative Strength based on rate of changes (ROC) with weighting is coded and presented as well.
The RS.ROC is similar to the formulation of RS by IBD before rank among all the stocks in the market.
The lookback period is relaxed for customizing. Once you set the total lookback period, representing the 4Q, in the indicator, the other shorter lookback periods will be auto-calculated, namely, 1Q, 2Q, 3Q.
A simple moving average of the RS.ROC is also added for your easier analysis on the trend development of the strength.
To use it later at your charting later,
1. Favorite it;
2. Select from your favorite list.