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lokanathkhamari

RS Compare Indicator

lokanathkhamari  
educational relativestrength
20
1
educational relativestrength
Relative Strength Breakout is always a great indicator of change in trends. This indicator is a visual attempt to show the region of outperformance of a stock with respect to a sector or primary indicator.

The color indicated should read as below
1) Color Red: Indicates that the selected script is underperforming the indexing with which it is compared
2) Color Yellow: Indicates that the selected script is as per the indexing with which it is compared.
3) Color Green: Indicates that the script is outperforming the indexing with which it is compared.
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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