This indicator plots the normal distribution for the 10 sectors of the SPY for the last X bars of the selected resolution, based on the selected comparative security. It shows which sectors are outperforming and underperforming the SPY (or any other security) relatively to each other by the given deviation.
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study("Sectors Relative Strength Normal Distribution") //This indicator plots the normal distribution for the 10 sectors of the SPY for the last X bars of the selected resolution, based on the selected comparative security. sym = input(title="Comparative Security", type=symbol, defval="SPY") res = input(title="Resolution", type=resolution, defval="D") a = security(sym, res, close) i = input(title="Deviation", type=integer, defval=200, minval=2, maxval=2000) XLB1 = security("XLB",res,close) XLE1 = security("XLE",res,close) XLF1 = security("XLF",res,close) XLI1 = security("XLI",res,close) XLK1 = security("XLK",res,close) XLP1 = security("XLP",res,close) XLU1 = security("XLU",res,close) XLV1 = security("XLV",res,close) XLY1 = security("XLY",res,close) XTN1 = security("XTN",res,close) XLB2 = XLB1/a XLE2 = XLE1/a XLF2 = XLF1/a XLI2 = XLI1/a XLK2 = XLK1/a XLP2 = XLP1/a XLU2 = XLU1/a XLV2 = XLV1/a XLY2 = XLY1/a XTN2 = XTN1/a XLB3 = stdev(XLB2,i) XLE3 = stdev(XLE2,i) XLF3 = stdev(XLF2,i) XLI3 = stdev(XLI2,i) XLK3 = stdev(XLK2,i) XLP3 = stdev(XLP2,i) XLU3 = stdev(XLU2,i) XLV3 = stdev(XLV2,i) XLY3 = stdev(XLY2,i) XTN3 = stdev(XTN2,i) XLB4 = sum(XLB2,i)/i XLE4 = sum(XLE2,i)/i XLF4 = sum(XLF2,i)/i XLI4 = sum(XLI2,i)/i XLK4 = sum(XLK2,i)/i XLP4 = sum(XLP2,i)/i XLU4 = sum(XLU2,i)/i XLV4 = sum(XLV2,i)/i XLY4 = sum(XLY2,i)/i XTN4 = sum(XTN2,i)/i XLB5 = (XLB2-XLB4)/XLB3 XLE5 = (XLE2-XLE4)/XLE3 XLF5 = (XLF2-XLF4)/XLF3 XLI5 = (XLI2-XLI4)/XLI3 XLK5 = (XLK2-XLK4)/XLK3 XLP5 = (XLP2-XLP4)/XLP3 XLU5 = (XLU2-XLU4)/XLU3 XLV5 = (XLV2-XLV4)/XLV3 XLY5 = (XLY2-XLY4)/XLY3 XTN5 = (XTN2-XTN4)/XTN3 plot(XLB5,title="Materials - XLB",color=red) plot(XLE5,title="Energy - XLE",color=blue) plot(XLF5,title="Financial - XLF",color=purple) plot(XLI5,title="Industrial - XLI",color=yellow) plot(XLK5,title="Technology - XLK",color=orange) plot(XLP5,title="Consumer Staples - XLP",color=green) plot(XLU5,title="Utilities - XLU",color=gray) plot(XLV5,title="Healthy Care - XLV",color=black) plot(XLY5,title="Consumer Discretionary - XLY",color=maroon) plot(XTN5,title="Transportation - XTN",color=navy)