This is a relative strength model for Indian Stock Markets where in the price of the stock in the current scenario is compared with the benchmark indices ( NIFTY / BANKNIFTY) over a period of 55 days ( by default).
This indicator also has RSI and Supertrend built-in by default. Hence this indicator can be used in place of 3 indicators.
How to use?
1. When the background is blue, it means that the stock is relatively strong as compared to the bench mark indices over a period of 55 days and the RSI is > 50
When both RS > 0 & RSI > 50 the background will be blue. If either or is true it won't turn blue.
2. Superternd by default setting is 10,3 which can be changed as per one's requirement.
Thanks!!
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Added Palette to choose background color and increased opacity by 5%
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Added alert feature for background color.
If alert is set on RS Buy then as soon as the background goes blue the alert will be triggered and vice-versa.
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Added 2 EMA's 21 & 55 EMA's to the indicator.
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Show and Hide toggle added for EMA
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Now you can change moving average color as per you desire.
HI Saurav, I am referring below indicator which is great tool, just wondering if there any screener to identify potential stocks in the uptrend and matching to this indicator...
sauravraj3sinha
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@rkpg, I have created many screener videos for this indicator on my youtube channel.