OPEN-SOURCE SCRIPT
RS Leader - Early Breakout Radar
RS Leader - Early Breakout Radar identifies stocks demonstrating exceptional relative strength before a conventional price breakout occurs.
The indicator compares the current symbol with a selectable market benchmark, using SPY by default. It searches for situations in which the relative-strength ratio is near a long-term high while the stock remains in a tight consolidation beneath its previous price high. This combination can help identify securities outperforming the broader market before that leadership becomes obvious from price alone.
RS Leader is different from the RSI oscillator. Its relative-strength calculation is:
Stock Price ÷ Benchmark Price
RS Leader Score
Each stock receives a dynamic score from 1 to 100:
• Relative-strength leadership: 40 points
• Proximity to the breakout level: 20 points
• Price-range contraction: 15 points
• Moving-average structure: 15 points
• Volume behavior: 10 points
A default minimum score of 70 is required before an RS Leader signal can appear. All requirements and scoring thresholds can be adjusted in the indicator settings.
Signal Interpretation
• Blue RS LEADER label: Relative strength is near a long-term high while price remains tightly consolidated below resistance.
• Blue line: The nearby price level that must be exceeded for a potential breakout.
• Green BREAKOUT label: Price closed above the prior resistance level following an active RS Leader setup.
• Blue background shading: Optional highlighting of bars that currently satisfy the complete setup.
Dashboard Colors
• Green: Condition is favorable or confirmed.
• Blue: An active RS Leader setup meets the minimum score.
• Orange: Condition is developing, neutral or requires caution.
• Red: Condition is not currently satisfied.
The dashboard displays the current RS Leader Score, relative-strength status, distance from the price high, consolidation width, moving-average alignment, relative volume and selected benchmark.
The indicator uses confirmed closing-bar information and does not intentionally use future data. Signals can still fail, and historical relationships do not guarantee future results. Relative strength may deteriorate, apparent breakouts may reverse, and market or company-specific events can materially affect price behavior.
RS Leader is provided solely for educational and informational purposes. It does not constitute investment advice, a recommendation to buy or sell any security, or a guarantee of future performance. Users should independently evaluate market conditions, liquidity, earnings dates, volatility and personal risk tolerance before making any financial decision.
The indicator compares the current symbol with a selectable market benchmark, using SPY by default. It searches for situations in which the relative-strength ratio is near a long-term high while the stock remains in a tight consolidation beneath its previous price high. This combination can help identify securities outperforming the broader market before that leadership becomes obvious from price alone.
RS Leader is different from the RSI oscillator. Its relative-strength calculation is:
Stock Price ÷ Benchmark Price
RS Leader Score
Each stock receives a dynamic score from 1 to 100:
• Relative-strength leadership: 40 points
• Proximity to the breakout level: 20 points
• Price-range contraction: 15 points
• Moving-average structure: 15 points
• Volume behavior: 10 points
A default minimum score of 70 is required before an RS Leader signal can appear. All requirements and scoring thresholds can be adjusted in the indicator settings.
Signal Interpretation
• Blue RS LEADER label: Relative strength is near a long-term high while price remains tightly consolidated below resistance.
• Blue line: The nearby price level that must be exceeded for a potential breakout.
• Green BREAKOUT label: Price closed above the prior resistance level following an active RS Leader setup.
• Blue background shading: Optional highlighting of bars that currently satisfy the complete setup.
Dashboard Colors
• Green: Condition is favorable or confirmed.
• Blue: An active RS Leader setup meets the minimum score.
• Orange: Condition is developing, neutral or requires caution.
• Red: Condition is not currently satisfied.
The dashboard displays the current RS Leader Score, relative-strength status, distance from the price high, consolidation width, moving-average alignment, relative volume and selected benchmark.
The indicator uses confirmed closing-bar information and does not intentionally use future data. Signals can still fail, and historical relationships do not guarantee future results. Relative strength may deteriorate, apparent breakouts may reverse, and market or company-specific events can materially affect price behavior.
RS Leader is provided solely for educational and informational purposes. It does not constitute investment advice, a recommendation to buy or sell any security, or a guarantee of future performance. Users should independently evaluate market conditions, liquidity, earnings dates, volatility and personal risk tolerance before making any financial decision.
סקריפט קוד פתוח
ברוח האמיתית של TradingView, יוצר הסקריפט הזה הפך אותו לקוד פתוח, כך שסוחרים יוכלו לעיין בו ולאמת את פעולתו. כל הכבוד למחבר! אמנם ניתן להשתמש בו בחינם, אך זכור כי פרסום חוזר של הקוד כפוף ל־כללי הבית שלנו.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
סקריפט קוד פתוח
ברוח האמיתית של TradingView, יוצר הסקריפט הזה הפך אותו לקוד פתוח, כך שסוחרים יוכלו לעיין בו ולאמת את פעולתו. כל הכבוד למחבר! אמנם ניתן להשתמש בו בחינם, אך זכור כי פרסום חוזר של הקוד כפוף ל־כללי הבית שלנו.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.