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.
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免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。