stock gain% vs index gain % — Indicator by yomofoV

This shows the relative strength or weakness of a stock vs an index on any given candle price movement.

Negative stock candle and relative strength shows accumulation

Positive stock candle and relative weakness shows distribution

accumulation will plot an 'A'
distribution will plot a 'D'

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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