PROTECTED SOURCE SCRIPT
Relative Outperformance vs SPX (Pro Daily)
Find true market leaders before the breakout.
This indicator measures a stock’s percentage outperformance versus the S&P 500 (SPX) across multiple daily timeframes (5, 20, 50, 200) and combines them into a weighted Relative Strength (RS) Score.
Unlike simple ratio indicators, this tool shows:
📊 Multi-period relative performance (%)
⭐ Weighted RS Score
🚦 Early Leader signal (20D + 50D strength)
🏆 Confirmed Leader signal (adds 200D trend)
📋 Clean dashboard panel for fast decision-making
Why This Matters
Strong stocks outperform the index before they break out.
This tool helps you:
Identify emerging leadership
Confirm institutional sponsorship
Avoid weak relative names
Improve breakout and pullback selection
Green values = outperforming SPX
Red values = underperforming SPX
Designed specifically for daily swing trading and position trading.
Best Used With
Breakout strategies
Pullbacks to moving averages
Undercut & Rally setups
Relative volume confirmation
Market rotation strategies
Suggested Daily Settings
5 / 20 / 50 / 200
Weights: 0.20 / 0.35 / 0.35 / 0.10
Smoothing: 3
Disclaimer
Educational purposes only.
Not financial advice.
Past performance does not guarantee future results.
This indicator measures a stock’s percentage outperformance versus the S&P 500 (SPX) across multiple daily timeframes (5, 20, 50, 200) and combines them into a weighted Relative Strength (RS) Score.
Unlike simple ratio indicators, this tool shows:
📊 Multi-period relative performance (%)
⭐ Weighted RS Score
🚦 Early Leader signal (20D + 50D strength)
🏆 Confirmed Leader signal (adds 200D trend)
📋 Clean dashboard panel for fast decision-making
Why This Matters
Strong stocks outperform the index before they break out.
This tool helps you:
Identify emerging leadership
Confirm institutional sponsorship
Avoid weak relative names
Improve breakout and pullback selection
Green values = outperforming SPX
Red values = underperforming SPX
Designed specifically for daily swing trading and position trading.
Best Used With
Breakout strategies
Pullbacks to moving averages
Undercut & Rally setups
Relative volume confirmation
Market rotation strategies
Suggested Daily Settings
5 / 20 / 50 / 200
Weights: 0.20 / 0.35 / 0.35 / 0.10
Smoothing: 3
Disclaimer
Educational purposes only.
Not financial advice.
Past performance does not guarantee future results.
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.