OPEN-SOURCE SCRIPT
RS Rating (Relative Strength) - Clean Table UI
This indicator calculates the Relative Strength (RS) Rating of a stock compared to the S&P 500 (SPY) and displays it as a clean, simple numerical value in a customizable table on your chart.
Unlike many complex swing data indicators that clutter your screen with moving averages, background colors, and multiple data points, this script is specifically designed for minimalist traders, day traders, and scalpers who only need to see the core RS Rating score at a single glance.
How It Works:
Core Calculation: It uses the standard weighted formula for 1-year performance (40% for the most recent quarter, and 20% for each of the previous three quarters) compared against the S&P 500 benchmark.
Percentile Ranking (1-99): Using market environment seed data, the raw score is converted into a true 1 to 99 percentile ranking. For example, an RS Rating of 85 means the stock is currently outperforming 85% of the overall market.
Color-Coded Signals: The numerical value automatically changes color based on the stock's momentum:
Green (>= 80): Strong market leader.
Red (<= 40): Weak laggard.
Custom/White: Neutral performance.
Features:
Zero Chart Clutter: No lines or shapes plotted over your candles. Just a single, elegant table.
Fully Customizable: You can easily change the table's position (Top/Bottom, Left/Right) and text size (Normal, Large, Huge) directly from the indicator settings to fit your exact workspace layout.
(Credits to the original open-source community and Fred6724 for the percentile mapping seed function utilized to power this clean UI version).
Unlike many complex swing data indicators that clutter your screen with moving averages, background colors, and multiple data points, this script is specifically designed for minimalist traders, day traders, and scalpers who only need to see the core RS Rating score at a single glance.
How It Works:
Core Calculation: It uses the standard weighted formula for 1-year performance (40% for the most recent quarter, and 20% for each of the previous three quarters) compared against the S&P 500 benchmark.
Percentile Ranking (1-99): Using market environment seed data, the raw score is converted into a true 1 to 99 percentile ranking. For example, an RS Rating of 85 means the stock is currently outperforming 85% of the overall market.
Color-Coded Signals: The numerical value automatically changes color based on the stock's momentum:
Green (>= 80): Strong market leader.
Red (<= 40): Weak laggard.
Custom/White: Neutral performance.
Features:
Zero Chart Clutter: No lines or shapes plotted over your candles. Just a single, elegant table.
Fully Customizable: You can easily change the table's position (Top/Bottom, Left/Right) and text size (Normal, Large, Huge) directly from the indicator settings to fit your exact workspace layout.
(Credits to the original open-source community and Fred6724 for the percentile mapping seed function utilized to power this clean UI version).
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.