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.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.