SR Relative Strength

This is a relative strength model for Indian Stock Markets where in the price of the stock in the current scenario is compared with the benchmark indices ( NIFTY / BANKNIFTY) over a period of 55 days ( by default).

This indicator also has RSI and Supertrend built-in by default. Hence this indicator can be used in place of 3 indicators.

How to use?

1. When the background is blue, it means that the stock is relatively strong as compared to the bench mark indices over a period of 55 days and the RSI is > 50

When both RS > 0 & RSI > 50 the background will be blue. If either or is true it won't turn blue.

2. Superternd by default setting is 10,3 which can be changed as per one's requirement.

Thanks!!

Notas de Lançamento:

Added Palette to choose background color and increased opacity by 5%

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Added alert feature for background color.

If alert is set on RS Buy then as soon as the background goes blue the alert will be triggered and vice-versa.

Notas de Lançamento:

Added 2 EMA's 21 & 55 EMA's to the indicator.

Notas de Lançamento:

Show and Hide toggle added for EMA

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Now you can change moving average color as per you desire.

Notas de Lançamento:

SR Relative Strength - 🚨UPDATE 🚨

New Features being rolled out -

Code updated to version 5 of pinescript

Multi time frame RSI in one table with overbought and oversold conditions

52Week High/Low table with real-time calculations