OPEN-SOURCE SCRIPT
Comparative Relative Strength (Screener compatible)
This indicator measures how a stock, sector, or ETF is performing relative to a chosen benchmark over a defined period.
It does not measure absolute performance.
It measures relative performance.
In simple terms, it answers this question:
Is this instrument outperforming or underperforming the benchmark?
The calculation compares the percentage change of the instrument to the percentage change of the selected comparative symbol (default: SPX) over the chosen lookback period.
If the result is:
• Positive → The instrument is outperforming the benchmark
• Negative → The instrument is underperforming the benchmark
• Zero → It is moving in line with the benchmark
When set to percentage mode (recommended for Screener use), the output directly displays the relative outperformance or underperformance in %.
How to use it in the TradingView Pine Screener:
This indicator is especially powerful when used inside the TradingView Screener.
Add the indicator to your chart.
Open the Screener.
Add the CRS column.
Sort by the CRS value.
You can now instantly rank all stocks in your watchlist from strongest to weakest relative to your chosen benchmark.
This allows you to:
• Rank an entire watchlist by relative strength
• Identify the strongest stocks inside a strong sector
• Detect early leadership shifts
• Avoid laggards
• Focus only on instruments where money is flowing
For example, if you apply it to a sector ETF watchlist, you can sort all sectors by strength versus SPX.
If you apply it to a list of stocks inside one sector, you can immediately identify the leaders within that group.
This transforms the Screener into a relative strength ranking engine.
It does not measure absolute performance.
It measures relative performance.
In simple terms, it answers this question:
Is this instrument outperforming or underperforming the benchmark?
The calculation compares the percentage change of the instrument to the percentage change of the selected comparative symbol (default: SPX) over the chosen lookback period.
If the result is:
• Positive → The instrument is outperforming the benchmark
• Negative → The instrument is underperforming the benchmark
• Zero → It is moving in line with the benchmark
When set to percentage mode (recommended for Screener use), the output directly displays the relative outperformance or underperformance in %.
How to use it in the TradingView Pine Screener:
This indicator is especially powerful when used inside the TradingView Screener.
Add the indicator to your chart.
Open the Screener.
Add the CRS column.
Sort by the CRS value.
You can now instantly rank all stocks in your watchlist from strongest to weakest relative to your chosen benchmark.
This allows you to:
• Rank an entire watchlist by relative strength
• Identify the strongest stocks inside a strong sector
• Detect early leadership shifts
• Avoid laggards
• Focus only on instruments where money is flowing
For example, if you apply it to a sector ETF watchlist, you can sort all sectors by strength versus SPX.
If you apply it to a list of stocks inside one sector, you can immediately identify the leaders within that group.
This transforms the Screener into a relative strength ranking engine.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.