OPEN-SOURCE SCRIPT
Actualizado Relative Strength (IBD Style)
This script is meant to give you a Relative Strength indication of the stock. The goal is to use a similar calculation as used by IBD.
It calculates the performance of the current stock for the last year (most recent quarter is weighted double) and compares it to the performance of a reference index or ticker (default is "SPY").
IBD would give you a value between 0 and 100 because this value is the percentile within all stocks. This is not possible with Pine Script at the moment.
So here you get a Relative Strength value that is >0 if the stock is stronger than the index and <0 if it is weaker than the index.
You can still compare the Relative Strength values between stocks (bigger is better) but you won't know which percentile it is right off the bat.
It calculates the performance of the current stock for the last year (most recent quarter is weighted double) and compares it to the performance of a reference index or ticker (default is "SPY").
IBD would give you a value between 0 and 100 because this value is the percentile within all stocks. This is not possible with Pine Script at the moment.
So here you get a Relative Strength value that is >0 if the stock is stronger than the index and <0 if it is weaker than the index.
You can still compare the Relative Strength values between stocks (bigger is better) but you won't know which percentile it is right off the bat.
Notas de prensa
Fix typo and update chart.Notas de prensa
Update chart.Notas de prensa
Update chart.Notas de prensa
Improve performance value display.Notas de prensa
Streamline performance calculation.Notas de prensa
Update chart.Notas de prensa
Fixed a bug where the display would jump around during open market when you opened the reference ticker.Notas de prensa
Update chart.Notas de prensa
Fix chart flickering when viewing the reference.Notas de prensa
Fix broken graph.Notas de prensa
Fix broken graph. (Followup)Notas de prensa
Go back to quarterly calculation instead of monthly.Script de código abierto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Exención de responsabilidad
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Script de código abierto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Exención de responsabilidad
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.