OPEN-SOURCE SCRIPT
Relative Strength Confluence Strip
RS Confluence Strip – Relative Strength Dashboard
This indicator gives a quick visual read on how the current stock is performing relative to the broader market, its sector, and its industry/theme.
It displays six boxes across the chart:
Four selectable market indices (SPY, QQQ, IWM, DIA, etc.)
One selectable sector ETF (XLK, XLE, XLF, etc.)
One selectable industry or theme ETF (SMH, IGV, IBB, XOP, etc.)
Each box shows a 0–100 relative strength rank, based on a user-defined lookback period. The number tells you where the stock’s relative performance currently sits within its recent range.
Higher numbers = stronger outperformance
Lower numbers = relative weakness
Mid-range = neutral
**The industry/theme selection must be adjusted manually to match the current ticker.
You can adjust:
The benchmarks used
The lookback length
Colors (bull / bear / neutral / text)
Position on the chart
Vertical spacing (for stacking with other indicators)
Optional outer border
This tool doesn’t generate trade signals. It’s designed to support a top-down process and help confirm strength or weakness before entering a position.
This indicator gives a quick visual read on how the current stock is performing relative to the broader market, its sector, and its industry/theme.
It displays six boxes across the chart:
Four selectable market indices (SPY, QQQ, IWM, DIA, etc.)
One selectable sector ETF (XLK, XLE, XLF, etc.)
One selectable industry or theme ETF (SMH, IGV, IBB, XOP, etc.)
Each box shows a 0–100 relative strength rank, based on a user-defined lookback period. The number tells you where the stock’s relative performance currently sits within its recent range.
Higher numbers = stronger outperformance
Lower numbers = relative weakness
Mid-range = neutral
**The industry/theme selection must be adjusted manually to match the current ticker.
You can adjust:
The benchmarks used
The lookback length
Colors (bull / bear / neutral / text)
Position on the chart
Vertical spacing (for stacking with other indicators)
Optional outer border
This tool doesn’t generate trade signals. It’s designed to support a top-down process and help confirm strength or weakness before entering a position.
Open-source script
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.
Disclaimer
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.
Open-source script
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.
Disclaimer
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.