OPEN-SOURCE SCRIPT
Relative Strength
**Relative Strength (Auto Timeframe) – Clean Institutional Style**
This indicator measures the **Relative Strength (RS)** of a stock against the benchmark index (default: NIFTY). It helps traders quickly identify whether a stock is **outperforming or underperforming** the broader market.
### 🔥 Key Features
* **Auto Timeframe RS Period**
* Monthly Chart → 9 Period
* Weekly Chart → 21 Period
* Daily Chart → 55 Period
* Intraday Charts → 55 Period
* No manual input required
* **Clean & Minimal Design**
* Only core Relative Strength line
* Optional Zero Line for performance reference
* Optional Color Change based on RS direction
* **Instant Visual Strength Detection**
* Green → Stock outperforming Index
* Red → Stock underperforming Index
### 📊 How To Use
* RS Above Zero → Stock is stronger than Index (Leader)
* RS Below Zero → Stock is weaker than Index
* Rising RS → Increasing relative demand (Potential future leader)
### 🎯 Best Use Cases
* Swing Trading
* Positional Trading
* Sector Rotation Tracking
* Leader Stock Identification
### 💡 Trading Insight
Institutional traders often track relative strength before price breakouts. Stocks showing sustained RS strength often become market leaders.
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**Note:** This is a relative performance tool and should be used along with price action, volume, and risk management for best results.
This indicator measures the **Relative Strength (RS)** of a stock against the benchmark index (default: NIFTY). It helps traders quickly identify whether a stock is **outperforming or underperforming** the broader market.
### 🔥 Key Features
* **Auto Timeframe RS Period**
* Monthly Chart → 9 Period
* Weekly Chart → 21 Period
* Daily Chart → 55 Period
* Intraday Charts → 55 Period
* No manual input required
* **Clean & Minimal Design**
* Only core Relative Strength line
* Optional Zero Line for performance reference
* Optional Color Change based on RS direction
* **Instant Visual Strength Detection**
* Green → Stock outperforming Index
* Red → Stock underperforming Index
### 📊 How To Use
* RS Above Zero → Stock is stronger than Index (Leader)
* RS Below Zero → Stock is weaker than Index
* Rising RS → Increasing relative demand (Potential future leader)
### 🎯 Best Use Cases
* Swing Trading
* Positional Trading
* Sector Rotation Tracking
* Leader Stock Identification
### 💡 Trading Insight
Institutional traders often track relative strength before price breakouts. Stocks showing sustained RS strength often become market leaders.
---
**Note:** This is a relative performance tool and should be used along with price action, volume, and risk management for best results.
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.