PROTECTED SOURCE SCRIPT
RS by Equity Gurukul
This indicator plots the Relative Strength (RS) of the current symbol against a chosen benchmark (default: NSE:NIFTYMIDSML400). It also overlays a customizable Moving Average (MA) on the RS line for trend confirmation.
Key Features:
RS Line: Ratio of stock price vs. benchmark.
RS MA: Customizable Moving Average (default 21; choose SMA or EMA).
RS Phase Fill: Background shading highlights when RS is above its MA (outperformance) or below its MA (underperformance).
RS New High Detection: Marks points where RS makes a new high (within user-defined lookback) while price has not yet broken its own high → signaling potential early strength.
This tool helps visualize relative performance trends, identify emerging leaders, and spot early breakouts before they reflect in price.
⚠️ Disclaimer
This indicator is for educational purposes only and is not financial advice.
It is a research and practice tool designed to illustrate concepts of relative strength analysis. Please do your own due diligence and consult a licensed financial advisor before making any trading or investment decisions.
Key Features:
RS Line: Ratio of stock price vs. benchmark.
RS MA: Customizable Moving Average (default 21; choose SMA or EMA).
RS Phase Fill: Background shading highlights when RS is above its MA (outperformance) or below its MA (underperformance).
RS New High Detection: Marks points where RS makes a new high (within user-defined lookback) while price has not yet broken its own high → signaling potential early strength.
This tool helps visualize relative performance trends, identify emerging leaders, and spot early breakouts before they reflect in price.
⚠️ Disclaimer
This indicator is for educational purposes only and is not financial advice.
It is a research and practice tool designed to illustrate concepts of relative strength analysis. Please do your own due diligence and consult a licensed financial advisor before making any trading or investment decisions.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.