OPEN-SOURCE SCRIPT
Chilllax Relative Strength Line with NewHigh NewLow Blue Dot
This is similar to the IBD MarketSurge (MarketSmith) Blue Dot:
https://www.investors.com/stock-lists/ibd-50/winning-stocks-and-bullish-blue-dots/
this plots the RS line of the instrument vs an index (default index is SPX)
if the RS hits a New High over the past X bars (default is 50), it shows a Light Blue (user definable) Dot on the RS line, if RS hits New High before the instrument hits New High, it shows a bigger/darker Blue Dot. Reverse for New Lows (orange for RS NL, Red for RS NL before Price NL)
this Dot is similar to the IBD Marketsurge RS New High Blue Dot, this indicator shows all the previous dots (MarketSurge shows only the last one), this one also shows New Lows, and
distinguishes RS NH before Price NH, and RS NL before Price NL. IBD's lookback period is 52 week, here it is default to 50d, but changeable.
https://www.investors.com/stock-lists/ibd-50/winning-stocks-and-bullish-blue-dots/
this plots the RS line of the instrument vs an index (default index is SPX)
if the RS hits a New High over the past X bars (default is 50), it shows a Light Blue (user definable) Dot on the RS line, if RS hits New High before the instrument hits New High, it shows a bigger/darker Blue Dot. Reverse for New Lows (orange for RS NL, Red for RS NL before Price NL)
this Dot is similar to the IBD Marketsurge RS New High Blue Dot, this indicator shows all the previous dots (MarketSurge shows only the last one), this one also shows New Lows, and
distinguishes RS NH before Price NH, and RS NL before Price NL. IBD's lookback period is 52 week, here it is default to 50d, but changeable.
Script de código aberto
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