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.
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.