OPEN-SOURCE SCRIPT
RS Compare Indicator
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.
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 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.