OPEN-SOURCE SCRIPT
Real Relative Strength
Rolling Real Relative Strength vs SPY measures how strongly a stock is performing compared to a benchmark, such as SPY, over a rolling lookback period. Unlike simple relative strength comparisons, this indicator normalizes both the selected symbol and the comparison security by their respective ATR values, helping account for differences in volatility.
The result is a cleaner view of whether the charted symbol is outperforming or underperforming the benchmark on a volatility-adjusted basis.
Above zero suggests the symbol is showing real relative strength.
Below zero suggests the symbol is showing real relative weakness.
Green/red fill highlights positive or negative relative performance.
Correlation dots on the baseline show how closely the symbol is moving with the benchmark over the selected lookback period.
This tool can be useful for identifying stocks that are holding up better than the market during pullbacks, showing leadership during rallies, or revealing weakness despite broader market strength.
Default comparison symbol is SPY, but it can be changed to any ticker.
The result is a cleaner view of whether the charted symbol is outperforming or underperforming the benchmark on a volatility-adjusted basis.
Above zero suggests the symbol is showing real relative strength.
Below zero suggests the symbol is showing real relative weakness.
Green/red fill highlights positive or negative relative performance.
Correlation dots on the baseline show how closely the symbol is moving with the benchmark over the selected lookback period.
This tool can be useful for identifying stocks that are holding up better than the market during pullbacks, showing leadership during rallies, or revealing weakness despite broader market strength.
Default comparison symbol is SPY, but it can be changed to any ticker.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.