OPEN-SOURCE SCRIPT
CRS by TQ
CRS by TradeQUO
Comparative Relative Strength Indicator
What it does
Key Plots
How to Interpret
Trend-Following
Regime Filter
Divergence Signals
Pairs Trading
Why it matters
Comparative Relative Strength Indicator
What it does
- Computes the percentage difference in performance between your current chart symbol (e.g. GC1!) and a chosen benchmark (e.g. ES1!, DXY, NQ1!).
- Smooths that “CRS” line with a configurable moving average (SMA, EMA, WMA) — default length is 63 bars.
Key Plots
- CRS (%) (aqua) — how your symbol has held up relative to the benchmark since the chart loaded.
- CRS MA (%) (fuchsia) — smoothed trend of that relative strength.
How to Interpret
Trend-Following
- Long when CRS crosses above its MA and is above 0 → your symbol is outperforming.
- Short (or reverse) when CRS crosses below its MA and is below 0 → underperformance.
Regime Filter
- CRS > 0 → Risk-On environment for your symbol vs. benchmark.
- CRS < 0 → Risk-Off relative to the benchmark.
Divergence Signals
- Bearish Divergence: Price makes a higher high, but CRS makes a lower high → potential sell-off incoming.
- Bullish Divergence: Price makes a lower low, but CRS makes a higher low → look for rebound opportunity.
Pairs Trading
- Outperformance: Long your symbol + Short benchmark when CRS > MA.
- Underperformance: Short your symbol + Long benchmark when CRS < MA.
Why it matters
- Reveals relative market leadership early, not just absolute price moves.
- Helps you allocate risk dynamically, spot rotations and catch reversals before they show in price alone.
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.