OPEN-SOURCE SCRIPT
RS Rating vs Index
RS Rating vs Index — Sector & Market
Tracks how a stock is really performing — not just whether the price is going up, but whether it's beating the market and its own sector.
Most relative-strength tools only compare a stock to one benchmark. This one runs two comparisons at the same time: the stock against its sector index (e.g. CSL vs XHJ) and against the broader market (default XJO). That distinction matters more than people give it credit for. A stock can look strong purely because its whole sector is hot — this indicator lets you see through that and tell whether a name is actually leading its peers, or just along for the ride.
The rating itself is built the IBD way: weighted quarterly price performance with the most recent quarter counted double, then scaled to a 0–100 read using the stock's own trailing history. Above 70 and it's showing real strength versus the benchmark; below 30 and it's lagging.
One honest caveat: this isn't a true cross-sectional RS Rating like you'd get from IBD's full universe ranking — Pine indicators can't see every other stock on the exchange at once. What you're getting is each stock ranked against its own history of relative performance, which in practice tracks strength and weakness pretty closely, just without the "top 1% of 3,000 stocks" precision.
Set your own sector benchmark in the settings — defaults are ASX sector indices, but it'll work on any exchange if you swap the symbols.
Tracks how a stock is really performing — not just whether the price is going up, but whether it's beating the market and its own sector.
Most relative-strength tools only compare a stock to one benchmark. This one runs two comparisons at the same time: the stock against its sector index (e.g. CSL vs XHJ) and against the broader market (default XJO). That distinction matters more than people give it credit for. A stock can look strong purely because its whole sector is hot — this indicator lets you see through that and tell whether a name is actually leading its peers, or just along for the ride.
The rating itself is built the IBD way: weighted quarterly price performance with the most recent quarter counted double, then scaled to a 0–100 read using the stock's own trailing history. Above 70 and it's showing real strength versus the benchmark; below 30 and it's lagging.
One honest caveat: this isn't a true cross-sectional RS Rating like you'd get from IBD's full universe ranking — Pine indicators can't see every other stock on the exchange at once. What you're getting is each stock ranked against its own history of relative performance, which in practice tracks strength and weakness pretty closely, just without the "top 1% of 3,000 stocks" precision.
Set your own sector benchmark in the settings — defaults are ASX sector indices, but it'll work on any exchange if you swap the symbols.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.