Islamic Tijarat -Dual Relative Strength

Islamic Tijarat - Dual Relative Strength

Islamic Tijarat - Dual Relative Strength is a powerful indicator designed to compare the relative performance of two securities, such as a stock against its sector index or Nifty 50 (default benchmark) . This helps traders assess whether a stock is outperforming (> 0) or underperforming (< 0) relative to the chosen benchmark.

Key Features:

✔ Relative Strength Comparison – Measure the performance of a stock relative to Nifty 50, industry index, or sector index.

✔ Multiple Timeframes – Works best on Daily Timeframe (TF) but can also be applied to Weekly, Monthly, or Intraday charts based on the preferred calculation period.

✔ Customizable Calculation Period – Choose the desired number of hours when applying it to smaller timeframes.

✔ Box Table Display – Provides a clear performance comparison against both Nifty 50 and the selected sector index .

✔ Toggle Color Option on Crossovers – Visually highlights significant crossovers in relative strength for better readability.

✔ Enhanced Label Display – Fixed label visibility issue when plot options were disabled.

✔ Superimposed Price Action on RS Line – In addition to standard Relative Strength (RS) behavior, users can now overlay price action movements onto the RS line for a more holistic analysis.

✔ Customizable Moving Averages for RS – Added SMA/EMA (length: 9) to smoothen the RS calculation, helping traders filter noise and identify trends more effectively.

Usage:

✅ Compare stock performance against Nifty 50 , industry index, sector index, or any other security within the same sector.

✅ Identify strength and weakness trends over different timeframes.

✅ Use crossovers, trend direction, and price action integration for better decision-making.

This brings enhanced functionality, improved visualization, and bug fixes, making it a must-have tool for traders focusing on relative strength analysis.