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Real Relative Strength
Real Relative Strength (RRS)
Real Relative Strength (RRS) measures a stock's performance relative to a benchmark (default: SPY) while adjusting for volatility using ATR.
Unlike traditional Relative Strength, which compares price performance directly, RRS compares ATR-normalized moves, showing whether a stock is outperforming or underperforming the market on a risk-adjusted basis.
Interpretation
Features
Bullish Candidates
Bearish Candidates
Key Insight:
RRS answers the question: "How many ATRs stronger or weaker is this stock compared to the benchmark over the selected lookback period?" This volatility-adjusted approach helps identify true market leaders and laggards more effectively than traditional relative strength measures.
Real Relative Strength (RRS) measures a stock's performance relative to a benchmark (default: SPY) while adjusting for volatility using ATR.
Unlike traditional Relative Strength, which compares price performance directly, RRS compares ATR-normalized moves, showing whether a stock is outperforming or underperforming the market on a risk-adjusted basis.
Interpretation
- RRS > 0 → Stock is outperforming the benchmark.
- RRS < 0 → Stock is underperforming the benchmark.
- RRS = 0 → Stock is performing in line with the benchmark.
Features
- Uses a rolling lookback period (default: 12 bars).
- Normalizes price movement by ATR to account for volatility differences.
- Includes a correlation indicator to show how closely the stock tracks the benchmark.
- Green fill indicates positive relative strength; red fill indicates negative relative strength.
- Trading Applications
Bullish Candidates
- RRS above zero and rising.
- Price above key moving averages.
- Volume expanding.
- Indicates institutional leadership and market outperformance.
Bearish Candidates
- RRS below zero and falling.
- Price below key moving averages.
- Weak participation during market rallies.
- Indicates relative weakness versus the broader market.
Key Insight:
RRS answers the question: "How many ATRs stronger or weaker is this stock compared to the benchmark over the selected lookback period?" This volatility-adjusted approach helps identify true market leaders and laggards more effectively than traditional relative strength measures.
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開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
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。