PROTECTED SOURCE SCRIPT
Ibotrade Relative Strength Leadership Engine
Ibotrade Relative Strength Leadership Engine (IRSI)
The Ibotrade Relative Strength Leadership Engine (IRSI) is a benchmark-relative leadership classification indicator designed to evaluate whether a symbol is behaving like a market leader versus a chosen benchmark (default: SPY).
IRSI measures leadership using multiple objective components, including:
Relative strength versus a dynamic baseline
Momentum confirmation via volatility-adjusted RS slope
Proximity to recent relative-strength highs
Optional weekly and monthly confirmation for higher-timeframe context
These components are combined into a transparent 0–100 leadership score, which is then mapped into a clear, deterministic permission state:
FULL – leadership conditions are strong and intact
CAUTION – leadership exists but is aging or momentum is cooling
BLOCKED – leadership has degraded or broken
IRSI is indicator-only, evaluated on confirmed bar close, and is intended as a decision-support tool, not a trading signal or execution system. Optional alerts are included for leadership state changes and relative-strength new-high events.
This script does not place trades, does not predict future price movement, and is designed to help traders prioritize stronger relative performers while standing down during leadership deterioration.
The Ibotrade Relative Strength Leadership Engine (IRSI) is a benchmark-relative leadership classification indicator designed to evaluate whether a symbol is behaving like a market leader versus a chosen benchmark (default: SPY).
IRSI measures leadership using multiple objective components, including:
Relative strength versus a dynamic baseline
Momentum confirmation via volatility-adjusted RS slope
Proximity to recent relative-strength highs
Optional weekly and monthly confirmation for higher-timeframe context
These components are combined into a transparent 0–100 leadership score, which is then mapped into a clear, deterministic permission state:
FULL – leadership conditions are strong and intact
CAUTION – leadership exists but is aging or momentum is cooling
BLOCKED – leadership has degraded or broken
IRSI is indicator-only, evaluated on confirmed bar close, and is intended as a decision-support tool, not a trading signal or execution system. Optional alerts are included for leadership state changes and relative-strength new-high events.
This script does not place trades, does not predict future price movement, and is designed to help traders prioritize stronger relative performers while standing down during leadership deterioration.
Script protegido
Este script se publica como código cerrado. No obstante, puede utilizarlo libremente y sin ninguna limitación. Obtenga más información aquí.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script protegido
Este script se publica como código cerrado. No obstante, puede utilizarlo libremente y sin ninguna limitación. Obtenga más información aquí.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.