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Relative Strength OverlayThis is the original script to my other Relative Strength indicator (link below) It provides a graphical overlay of the Relative Strength, compared to the QLD, a Nasdaq x2 ETF. You can not use the value to compare to other stocks or securities, as it is scaled based on the price (so it can be used as an overlay). If you want a value which you can use to compare with other stocks, please see my other Relative Strength indicator.
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dangoodfellow88 tarafından
Relative Strength LevyDescription: The concept of Relative Strength to Levy is based on the assumption that, securities which exhibited a large relative strength in the past will also develop relatively strongly in future, and conversely. It is compare on the performance of the past with the performance of last observation period. Calculation: Arithmetic mean of the candle closing price over the observation period. The result is plotted around the 1.0 mark. RSL = Close / Moving Average Interpretation: If an instrument has an RSL of greater than 1, it is more likely than not, the instrument is more than weak in the past. Second interpretation of Levy is to first divide the standard deviations of the last 27 weekly closing prices. The intention of this method is to determine the volatility of the securities being observed.
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Mango2Juice tarafından
4
Relative Strength Index of Moving AveragePine script version 3 Author CryptoJoncis RSIOMA is the abbreviation for Relative Strength index (RSI) of moving averages (MA). This custom built indicator is based on calculating the relative strength of two moving averages and the smoothes out the RSI using a moving average. Combined, the RSIOMA oscillator depicts trend changes in prices relative to the time frame. The RSIOMA can be used as a signal generator by itself. (www.ProfitF.com) There are some minor things which you can use to modify this version of RSIOMA: Choose 2 levels of Over Sold and Over Bought for RSI Set the middle level to easier visualize the trend Set x% wider MA line to avoid too many fake signals and gain higher precision You can choose which MA would you like to use from the following list: Tillson Moving Average (T3) Double Exponential Moving Average ( DEMA ) Arnaud Legoux Moving Average ( ALMA ) Least Squares Moving Average ( LSMA ) Simple Moving Average ( SMA ) Exponential Moving Average ( EMA ) Weighted Moving Average ( WMA ) Smoothed Moving Average ( SMMA ) Triple Exponential Moving Average ( TEMA ) Hull Moving Average ( HMA ) Adaptive moving average (AMA) Fractal Adaptive Moving Average (FAMA) Variable Index Dynamic Average ( VIDYA ) Triangular Moving Average (TRIMA) Any questions/suggestions/errors or spelling mistakes? Please leave a comment and let me know. You can use,publish,modify this code in any way as you wish, but only if you reference me after. You are not allowed to sell it as it is. If this code is useful to you, then consider to buy me a coffee 2.17% (or better a pint of beer) by donating Bitcoin 0.64% or Etherium to: BTC: 3FiBnveHo3YW6DSiPEmoCFCyCnsrWS3JBR ETH: 0xac290B4A721f5ef75b0971F1102e01E1942A4578 References: www.profitf.com
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CryptoJoncis tarafından
7
Relative Strength of 2 securities - Jayy This is an update of the Relative Strength to index as used by Leaf_West.. 4th from the top. my original RS script is 3rd from the top. In this use of the term " Relative Strength" (RS) what is meant is a ratio of one security to another. The RS can be inerpreted in a fashion similar to price action on a regual security chart. If you follow his methods be aware of the different moving averages for the different time periods. From Leaf_West: "on my weekly and monthly R/S charts, I include a 13 EMA of the R/S (brown dash line) and an 8 SMA of the 13 EMA (pink solid line). The indicator on the bottom of the weekly/monthly charts is an 8 period momentum indicator of the R/S line. The red horizontal line is drawn at the zero line. For daily or 130-minute time periods (or shorter), my R/S charts are slightly different - the moving averages of the R/S line include a 20EMA (brown dash line), a 50 EMA (blue dash line) and an 8 SMA of the20 EMA (pink solid line). The momentum indicator is also slightly different from the weekly/monthly charts – here I use a 12 period calculation (vs 8 SMA period for the weekly/monthly charts)." Leaf's website has gone but I if you are interested in his methods message me. What is different from my previous RS: The RS now displays RS candles. So if you prefer to watch price action of candles to a line chart which only plots the ratio of closes then this will be more interesting to you. I have also thrown in a few options to have fun with. Jayy
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jayy tarafından
3
Relative Strength Volume ComparisonThe Relative Strength Volume Comparison is a powerful tool that can help traders identify the current trend based on volume pressure and potential reversals. This oscillator is made of two lines and the overbought and oversold levels. Each of these two lines is a relative-strength formula that contains both the famous RSI and CCI formulas, smoothed by a Hull moving average. The two lines are different for input. The colored line is based just on price and changes color based on the relation with the other line. The second line uses as input an average of three different popular volume indicators: The OBV, the Accumulation/Distribution, and the PVT. Thanks to this tool, which uses 6 different formulas combined, traders can: - Identify the current trend direction, based on the color of the area fill and the first colored line - Identify potential reversal areas thanks to the overbought and oversold levels, customizable in the input section alongside the length and smoothing parameters.
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OmegaTools tarafından
Relative Strength against IndexThis is a very simple script to compare the performance of a single stock against its index, by adding / subtracting points for particular price action on up /down - days in the index. For instance: If the index is down <-1ATR and the stock is not, it's +1 point. If the index is up >1ATR and the stock is up less than half, it's -1 point. Basic idea (vs the commonly used "relative strength comparison") is that regular relative strength action over a time tells more about accumulaiton than pure price outperformance. Formula can probably be made better - I'm open to suggestions...
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Vollchaot tarafından
Relative Strength Super Smoother by lastguruA better version of Apirine's RS EMA by using a superior MA: Ehlers Super Smoother. In January 2022 edition of TASC Vitaly Apirine introduced his Relative Strength Exponential Moving Average. A concept not entirely new, as Tushar Chande used a similar calculation for his VIDYA moving average. Both are based on the idea to change EMA length depending on the absolute RSI value, so the moving average would speed up then RSI is going up or down from the center value (when there is a significant directional price movement), and slow down when RSI returns to the center value (when there is a neutral or sideways movement). That way EMA responsiveness would increase where it matters most, but decrease where there is a high probability of whipsaw. There are only two main differences between VIDYA and RS EMA: RSI internal smoothing - VIDYA uses SMA, as Chande's CMO is an RSI with SMA; RS EMA uses EMA Change direction - VIDYA sets the fastest length; RS EMA sets the slowest length Both algorithms use EMA as the base of their calculation. As John F. Ehlers has shown in his article "Predictive and Successful Indicators" (January 2014 issue of TASC), EMA is not a very efficient filter, as it introduces a significant lag if sufficient smoothing is required. He describes a new smoothing filter called SuperSmoother, "that sharply attenuates aliasing noise while minimizing filtering lag." In other words, it provides better smoothing with lower lag than EMA. In this script, I try to get the best of all these approaches and present to you Relative Strength Super Smoother. It uses RS EMA algorithm to calculate the SuperSmoother length. Unlike the original RS EMA algorithm, that has an abstract "multiplier" setting to scale the period variance (without this parameter, RSI would only allow it to speed up twice; Vitaly Apirine sets the multiplier to 10 by default), my implementation has explicit lower bound setting, so you can specify the exact range of calculated length. Settings: Lower Bound - fastest SuperSmoother length (when RSI is +100 or -100) Upper Bound - slowest SuperSmoother length (when RSI is 0) RSI Length - underlying RSI length. Unlike the original RSI that uses RMA as an internal smoothing algorithm, Vitaly Apirine uses EMA, which is approximately twice as fast (that is needed because he uses a generally long RSI length and RMA would be too slow for this). It is the same as the Upper Bound by default (0), as in the original implementation The original RS EMA is also shown on the chart for comparison. The default multiplier of 10 for RS EMA means that the fastest EMA period is around 4. I use the fastest period of 8 by default. It does not introduce too much of a lag in comparison, but the curve is much smoother. This script is just an interface for my public libraries. Check them out for more information.
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lastguru tarafından
4
Relative Strength 4DimensionIn 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 to program such a beast, and how it fares when we use it for rebalancing a stock portfolio. This is a redesigned version for an european point of view. I used 10 index for the comparison. feel free to tip me ;-)
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IacopoAlberti tarafından
Relative Strength of Volume Indicators by DGTThe Relative Strength Index (RSI) , developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. • Traditionally the RSI is considered overbought when above 70 and may be primed for a trend reversal or corrective pullback in price, and oversold or undervalued condition when below 30. During strong trends, the RSI may remain in overbought or oversold for extended periods. • Signals can be generated by looking for divergences and failure swings. If underlying prices make a new high or low that isn't confirmed by the RSI, this divergence can signal a price reversal. If the RSI makes a lower high and then follows with a downside move below a previous low, a Top Swing Failure has occurred. If the RSI makes a higher low and then follows with an upside move above a previous high, a Bottom Swing Failure has occurred • RSI can also be used to identify the general trend. In an uptrend or bull market, the RSI tends to remain in the 40 to 90 range with the 40-50 zone acting as support. During a downtrend or bear market the RSI tends to stay between the 10 to 60 range with the 50-60 zone acting as resistance This study aim to implement Relative Strength concept on most common Volume indicators, such as • Accumulation Distribution is a volume based indicator designed to measure underlying supply and demand • Elder's Force Index (EFI) measures the power behind a price movement using price and volume • Money Flow Index (MFI) measures buying and selling pressure through analyzing both price and volume (used as it is) • On Balance Volume (OBV) , created by Joe Granville, is a momentum indicator that measures positive and negative volume flow • Price Volume Trend (PVT) is a momentum based indicator used to measure money flow Plotting will be performed for regular RSI and RSI of Volume indicator (RSI(VOLX)) selected from the dialog box, where the possibility to apply smoothing is provided as option. Additionally, labels can be added optionally to display the value and name of selected volume indicator Secondly, ability to present Volume Histogram within the same study along with its Moving Average or Volume Oscillator based on selection Finally, Volume Based Colored Bars , a study of Kıvanç Özbilgiç is added to emphasis volume changes on top of the bars Nothing excessively new, the study combines RSI with; - RSI concept applied to some of the common Volume indicators presented with a highlighted over/under valued threshold area, optional labeling and smoothing, - added Volume data with additional information and - colored bars based on volume Thanks @Vishant_Meshram for the inspiration 🙏 Disclaimer: Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
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dgtrd tarafından
111
Relative Strength(RSMK) + Perks - Markos KatsanosIf you are desperately looking for a novel RSI, this isn't that. This is another lesser known novel species of indicator. Hot off the press, in multiple stunning color schemes, I present my version of "Relative Strength (RSMK)" employing PSv4.0, originally formulated by Markos Katsanos for TASC - March 2020 Traders Tips. This indicator is used to compare performance of an asset to a market index of your choosing. I included the S&P 500 index along side the Dow Jones and the NASDAQ indices selectively by an input() in "Settings". You may comparatively analyze other global market indices by adapting the code, if you are skilled enough in Pine to do so. With this contribution to the Tradingview community, also included is MY twin algorithmic formulation of "Comparative Relative Strength" as a supplementary companion indicator. They are eerily similar, so I decided to include it. You may easily disable my algorithm within the indicator "Settings". I do hope you may find both of them useful. Configurations are displayed above in multiple scenarios that should be suitable for most traders. As always, I have included advanced Pine programming techniques that conform to proper "Pine Etiquette". For those of you who are newcomers to Pine Script, this script may also help you understand advanced programming techniques in Pine and how they may be utilized in a most effective manner. Utilizing the "Power of Pine", I included the maximum amount of features I could surmise in an ultra small yet powerful package, being less than a 60 line implementation at initial release. Unfortunately, there are so many Pine mastery techniques included, I don't have time to write about all of them. I will have to let you discover them for yourself, excluding the following Pine "Tricks and Tips" described next. Of notable mention with this release, I have "overwritten" the Pine built-in function ema(). You may overwrite other built-in functions too. If you weren't aware of this Pine capability, you now know! Just heed caution when doing so to ensure your replacement algorithms are 100% sound. My ema() will also accept a floating point number for the period having ultimate adjustability. Yep, you heard all of that properly. Pine is becoming more impressive than `impressive` was originally thought of... Features List Includes: Dark Background - Easily disabled in indicator Settings->Style for "Light" charts or with Pine commenting AND much, much more... You have the source! The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
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ImmortalFreedom tarafından
16
Relative Strength Index With Signals [ChuckBanger]Every developer should have there own Relative Strength Index indicator. This is my version. Relative Strength Index or RSI is the most used indicator. It is an momentum based oscillator which is used to measure the velocity as well as the change of direction of price action. Essentially RSI provides a visual mean to monitor both the current, as well as historical, strength and weakness of the market you trade. RSI is calculated as folowing: RSI = 100 – 100/ (1 + RS) where RS = Average Gain of n days UP / Average Loss of n days DOWN. In this study RSI is weighted with ether VWAP (volume-weighted average price) or ATR (Average True Range) . The user can select that through the menu. RSI can have a reading from 0 to 100. The values of 70 or above indicate that an instrument is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. The values of 30 or below indicates an oversold or undervalued condition. The other significant signals are divergences with price and middle line crossovers. This version also has a signal line witch can be used as a signal when RSI crossover
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ChuckBanger tarafından
Relative Strength IndexEvery developer must create his own Relative Strength Index with midline and other features). In addition to the midline, highlighting and levels customization I give you ability to play with non-standard sources like On Balance Volume. If someone doesn't know what is this: This indicator was originally developed by J. Welles Wilder and was described in his book "New Concepts in Technical Trading Systems" (1978). It is intended to measure the strength or weakness of an instrument for the specified period. RSI is a momentum oscillator and can have a reading from 0 to 100. The values of 70 or above indicate that an instrument is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. The values of 30 or below indicates an oversold or undervalued condition. The other significant signals are divergences with price and middle line crossovers. RSI if one the most used indicators on the planet. Enjoy and good luck!
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everget tarafından
14
relative strength to BTCMeasure the relative strength of a crypto compared to Bitcoin. Pair trading strategy: Pairs trading is a strategy in which a trader matches long and short positions of two stocks that are perceived to have a strong correlation to each other and are currently trading outside of their historical relative strength range. Formula: a: tickerid, the crypto selected b: BTCUSD Bitfinex as: security a, (close-close )/close *100+100) bs: BTC, (close-close )/close *100+100) rs= (as-bs)/bs*1000 Green line is a moving average.
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Krauser tarafından
5
Relative Strength Index Custom [BRTLab]RSI Custom — Strategy-Oriented RSI with Multi-Timeframe Precision The Relative Strength Index Custom is designed with a focus on developing robust trading strategies. This powerful indicator leverages the logic of calculating RSI on higher timeframes (HTFs) while allowing traders to execute trades on lower timeframes (LTFs). Its unique ability to extract accurate RSI data from higher timeframes without waiting for those candles to close provides a real-time advantage, eliminating the "look-ahead" bias that often distorts backtest results. Key Features Multi-Timeframe RSI for Strategy Development This indicator stands out by allowing you to calculate RSI on higher timeframes, even while operating on lower timeframe charts. This means you can, for example, calculate RSI on the 1-hour or daily chart and execute trades on a 1-minute chart without needing to wait for the higher timeframe candle to close. This feature is crucial for strategy-building as it eliminates backtesting issues where data from the future is inadvertently used, providing more reliable backtest results. Example: On a 15-minute chart, you can use the 1-hour RSI to open positions based on higher timeframe momentum, but you get this signal in real-time, improving timing and accuracy. Accurate Data Extraction from Higher Timeframes The indicator's custom logic ensures that accurate RSI data is retrieved from higher timeframes, providing an edge by delivering timely information for lower timeframe decisions. This prevents delayed signals often encountered when waiting for higher timeframe candles to close, which is crucial for high-frequency and intraday traders looking for precise entries based on multi-timeframe data. Customizable RSI Settings for Strategy Tuning The script offers full customization of the RSI, including length and source price (close, open, high, or low), allowing traders to tailor the RSI to fit specific trading strategies. These settings are housed in the "RSI Settings" section, enabling precise adjustments that align with your overall strategy. No Future-Looking in Backtests Traditional backtests often suffer from "future-looking" bias, where calculations unintentionally use data from candles that haven’t yet closed. This indicator is specifically designed to prevent such issues by calculating RSI values in real-time. This is particularly important when creating and testing strategies, as it ensures that the conditions under which trades would have been made are accurately represented in historical tests. RSI-Based Moving Average for Additional Filtering The built-in moving average (MA) based on RSI values helps filter out noise, making it easier to identify genuine trend shifts. This is particularly useful in strategies where moving average crossovers act as additional confirmation for trade entries and exits. Overbought and Oversold Zone Detection Visual gradient fills on the RSI chart help traders identify overbought and oversold zones (above 70 and below 30, respectively). These zones are crucial for timing reversal trades or confirming momentum-based strategies. How This Indicator Enhances Your Strategy Increased Accuracy for Intraday Strategies For traders who operate on lower timeframes, using higher timeframe RSI data gives a broader perspective of market momentum while still maintaining precision for short-term trade entries. The real-time data extraction means you don't need to wait for HTF candles to close, which can dramatically improve your entry timing. Strategic Edge in Backtesting One of the greatest challenges in backtesting strategies is avoiding future-looking bias. This indicator is built to overcome this by using real-time multi-timeframe data, ensuring the accuracy and reliability of historical strategy testing, which provides confidence in your strategies when applied to live markets. Advanced Filtering for Trend Strategies By combining the RSI values with a customizable moving average (MA) and visualizing key momentum zones with overbought/oversold fills, the indicator allows for more refined trade filters. This ensures that signals generated by your strategy are based on solid momentum data and not short-term price fluctuations.
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BRTLab tarafından
Relative Strength Index w/ STARC Bands and PivotsThis is an old script that I use with some useful RSI strategies from "Technical Analysis for the Trading Professional" 2nd edition by Constance Brown. The base RSI comes with the option for custom length, and has some pre-configured ranges for looking at exits and entrances. The idea is to be bullish when bounces happen in the red zone during an already bullish trend or when the indicator enters green without a rejection. Be bearish if the indicator falls through the red zone or fails to enter green during an already bearish trend. I have added the formulas used for creating STARC bands (just think fancier volatility bands) with adjustable tolerances. The idea is to look out for when the RSI touches one of the bands and reverses. This is usually indicative of a strong reversal (though the timing will be up to the trader). Best use this on shorter time frames during a volatile time of a stock's price action. Although a little messy, there is a small segment of the script which includes pivot points. I like to use these because they make indicating local highs/lows for finding divergences easier. Finally, I have added a couple of customizable EMAS for the RSI itself. Useful when combined with the other features!
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jsalemfinancial tarafından
1
Relative Strength Index Wave Indicator [CC]The Relative Strength Index Wave Indicator was created by Constance Brown (Technical Analysis for the Trading Professional), and this is a unique indicator that uses the weighted close formula, but instead of using the typical price values, it uses the RSI calculated from the various prices. It then creates a rainbow by smoothing the weighted RSI with four different lengths. As far as the buy or sell signals with this indicator go, I did change things from the original source, so feel free to experiment and let me know if anything works better for you. I decided to do a variation of the original source and create buy and sell signals based on crossovers, but my version only uses the first and second smoothed RSI lines. You could also average all of the lines and buy when the average is rising and sell when it starts to fall. I have used my typical buy and sell signals to use darker colors for strong signals and lighter colors for normal signals. Because of the rainbow effect from the wave, the color changes will only appear for the bar itself when you enable that setting. Let me know if there is any other script you would like to see me publish! I will have plenty more RSI scripts to publish in the next week. Let me know if you like this indicator series.
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cheatcountry tarafından
1
Relative Strength Index with fast and slow MAsThis is the typical Relative Strength Index indicator with two moving averages, one slow (length 50 by default) and one fast (length 20 by default). Additionally, there are four lines, which mark the oversold/overbought signals at different levels, there are two inner bands with values at the levels 40, and 60, and two outer bands at the levels 20, and 80. The presence of the fast and slow moving averages and their crossover/crossunder with the oversold/overbought levels or the RSI can provide more insightful and faster signals. The indicator has a slightly different colouring mechanism. The views of the RSI indicator on the above the price chart in both dark and light modes:
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Thrax93 tarafından