OPEN-SOURCE SCRIPT
Telah dikemas kini Relative Strength vs Index-SQB
What is Relative Strength (RS)?
Imagine you open your chart of Infosys (INFY) and you want to know — is this stock actually strong, or is it just going up because the whole IT sector is going up?
That's exactly what RS tells you.
The formula is simply:
RS = Stock's % change − Index's % change (over same period)
Stock Δ% and Index Δ%
Say you set the lookback to 63 bars (~3 months):
Infosys went up +12% in last 63 days → that's your Stock Δ%
Nifty IT index went up +7% in the same 63 days → that's your Index Δ%
RS Value = 12 − 7 = +5 → Infosys is outperforming its sector by 5%
Another example:
Infosys went up +3%
Nifty IT went up +7%
RS Value = 3 − 7 = −4 → Infosys is underperforming its sector by 4%, even though the price went up
So a stock can be going up in price but still be WEAK if the index is going up faster. This is the key insight RS gives you.
What the RS line on the price chart does
Instead of reading numbers, you get a smooth line plotted on your candle chart — just like a 50 EMA or 200 EMA. When candles are above the RS line, the stock is in a strong phase relative to the index. When candles fall below the RS line, it means relative weakness is setting in. It acts as dynamic support/resistance based on relative momentum.
Imagine you open your chart of Infosys (INFY) and you want to know — is this stock actually strong, or is it just going up because the whole IT sector is going up?
That's exactly what RS tells you.
The formula is simply:
RS = Stock's % change − Index's % change (over same period)
Stock Δ% and Index Δ%
Say you set the lookback to 63 bars (~3 months):
Infosys went up +12% in last 63 days → that's your Stock Δ%
Nifty IT index went up +7% in the same 63 days → that's your Index Δ%
RS Value = 12 − 7 = +5 → Infosys is outperforming its sector by 5%
Another example:
Infosys went up +3%
Nifty IT went up +7%
RS Value = 3 − 7 = −4 → Infosys is underperforming its sector by 4%, even though the price went up
So a stock can be going up in price but still be WEAK if the index is going up faster. This is the key insight RS gives you.
What the RS line on the price chart does
Instead of reading numbers, you get a smooth line plotted on your candle chart — just like a 50 EMA or 200 EMA. When candles are above the RS line, the stock is in a strong phase relative to the index. When candles fall below the RS line, it means relative weakness is setting in. It acts as dynamic support/resistance based on relative momentum.
Nota Keluaran
Instead of trying to force-fit an RS value (which is a % difference number) onto a price axis, the correct and clean method is:Keep RS in the oscillator panel below (first script) — that's always accurate
On the price chart, use candle coloring + background shading to show RS strength visually — no scaling issues possible
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.