Relative Performance Indicator by ComLucro - 2025_V01The "Relative Performance Indicator by ComLucro - 2025_V01" is a powerful tool designed to analyze an asset's performance relative to a benchmark index over multiple timeframes. This indicator provides traders with a clear view of how their chosen asset compares to a market index in short, medium, and long-term periods.
Key Features:
Customizable Lookback Periods: Analyze performance across three adjustable periods (default: 20, 50, and 200 bars).
Relative Performance Analysis: Calculate and visualize the difference in percentage performance between the asset and the benchmark index.
Dynamic Summary Label: Displays a detailed breakdown of the asset's and index's performance for the latest bar.
User-Friendly Interface: Includes customizable colors and display options for clear visualization.
How It Works:
The script fetches closing prices of both the asset and a benchmark index.
It calculates percentage changes over the selected lookback periods.
The indicator then computes the relative performance difference between the asset and the index, plotting it on the chart for easy trend analysis.
Who Is This For?:
Traders and investors who want to compare an asset’s performance against a benchmark index.
Those looking to identify trends and deviations between an asset and the broader market.
Disclaimer:
This tool is for educational purposes only and does not constitute financial or trading advice. Always use it alongside proper risk management strategies and backtest thoroughly before applying it to live trading.
Chart Recommendation:
Use this script on clean charts for better clarity. Combine it with other technical indicators like moving averages or trendlines to enhance your analysis. Ensure you adjust the lookback periods to match your trading style and the timeframe of your analysis.
Additional Notes:
For optimal performance, ensure the benchmark index's data is available on your TradingView subscription. The script uses fallback mechanisms to avoid interruptions when index data is unavailable. Always validate the settings and test them to suit your trading strategy.
ค้นหาในสคริปต์สำหรับ "Relative"
Short & Long Relative StrengthRelative Strength (RS) is a method of identifying stocks which are relatively stronger or weaker as compared the market as a whole or to a relevant benchmark.
To calculate the relative strength of a particular stock, divide the percentage change over some time period by the percentage change of a particular index over the same time period.
The value of RS Indicator oscillates around zero. If value of RS is above ZERO then security is outperforming the benchmark and if value of RS is below ZERO then security is outperforming the benchmark.
Here i have used two RS indicator lines in one indicator - Short Term RS (default value is 65) and Long Term RS (default value is 123).
I have set default benchmark index as Nifty 50 (NSE:NIFTY)
Relative Spread StrengthRelative Spread Strength indicator script. This indicator was originally developed by Ian Copsey (Stocks & Commodities V. 24:10 (16-23): Forex Focus).
Relative Strength LevyDescription:
The concept of Relative Strength to Levy is based on the assumption that, securities which exhibited a large relative strength in the past will also develop relatively strongly in future, and conversely.
It is compare on the performance of the past with the performance of last observation period.
Calculation:
Arithmetic mean of the candle closing price over the observation period.
The result is plotted around the 1.0 mark.
RSL = Close / Moving Average
Interpretation:
If an instrument has an RSL of greater than 1, it is more likely than not, the instrument is more than weak in the past.
Second interpretation of Levy is to first divide the standard deviations of the last 27 weekly closing prices. The intention of this method is to determine the volatility of the securities being observed.
Relative Volume (RVOL) - Beasley SavageRelative Volume, often times called RVOL, is an indicator that tells traders how current volume is compared to past trading volumes over a given period. It is kind of a like a radar for how “in-play” a stock is. The higher the relative volume is the more in play it is.
Relative Volume is displayed as a ratio. So if it is showing 3.5 relative volume, that means it is trading at 3.5 times its normal volume.
Smart Relative Strength Can Remove False SignalsRelative strength is one of the most useful indicators in the market, highlighting when stocks and sectors are outperforming or underperforming a broader index.
Traditional RS compares the percentage change of one symbol over a given time frame and subtracts the percentage change of the S&P 500 over the same period.
This is handy, but it can produce false signals at times of volatility. For example, when the broader market is crashing, certain sectors may “outperform” simply by falling less than the S&P 500.
Smart Relative Strength addresses this shortcoming by requiring that the symbol’s absolute AND relative returns both be positive. Otherwise a zero is returned.
This was useful last week on the Dow Jones Transportation Average . Using simple relative strength, it had its best one-week performance against the S&P 500 since October 2008. This was obviously a false signal because October 2008 was a time that everything else was crashing.
Smart Relative Strength showed that, excluding periods of overall decline, DJT had its best week since January 2008.
Note: This chart uses a 1-period interval, while the code defaults to 21 periods.
Relative Volume RVOL AlertsRelative Volume or RVOL is an indicator used to help determine the amount of volume change over a given period of time.
It is often used to help traders determine how in-play a ticker is.
General rule of thumb is the higher the RVOL, the more in play a stock is.
I myself like to use it as a substitute of the volume indicator itself.
Basic Calculation:
Relative Volume = Current Volume / Average Volume
Crossover Signals:
Any time there is a volume spike which causes a crossover of the user set 'Smoothed Moving Average' or 'Threshold' a green/red dot will appear at the top. The color of the dot is dependent on closing of the candle. Therefore it does not necessarily mean price will continue in that direction since volume spikes often happen in peaks or valleys.
Threshold:
The level at which custom alerts and signal can be set. The higher the value, the more volume required to trigger.
Built in Alerts:
You can set custom alerts for the crossovers of the adjustable threshold, or the average RVOL band.
Relative Strength vs Benchmark SPYRelative Strength vs Benchmark (SPY)
This indicator compares the performance of the charted symbol (stock or ETF) against a benchmark index — by default, SPY (S&P 500). It plots a Relative Strength (RS) ratio line (Symbol / SPY) and its EMA(50) to visualize when the asset is outperforming or underperforming the market.
Key Features
📈 RS Line (blue): Shows how the asset performs relative to SPY.
🟠 EMA(50): Smooths the RS trend to highlight sustained leadership.
🟩 Green background: Symbol is outperforming SPY (RS > EMA).
🟥 Red background: Symbol is underperforming SPY (RS < EMA).
🔔 Alerts: Automatic notifications when RS crosses above/below its EMA — signaling new leadership or weakness.
How to Use
Apply to any stock or ETF chart.
Keep benchmark = SPY, or switch to another index (e.g., QQQ, IWM, XLK).
Watch for RS crossovers and trends:
Rising RS → money flowing into the asset.
Falling RS → rotation away from the asset.
Perfect for sector rotation, ETF comparison, and momentum analysis workflows.
Relative Volume (Multi-TF, D, W, M)Relative Volume (Multi-TF, Candle-Matched Colors)
This indicator measures Relative Volume (RVOL) — the ratio of current volume to average historical volume — across any higher timeframe (Daily, Weekly, or Monthly) and displays it as color-coded columns that match the candle colors of the chart you’re viewing.
RVOL reveals how active today’s market participation is compared to its typical rhythm.
RVOL = 1.0 → normal volume
>1.5 → rising interest
>2.0–3.0 → strong institutional participation
>5.0 → climax or exhaustion levels
Features
Works on any chart timeframe while computing RVOL from your chosen higher timeframe (e.g., show Daily RVOL while trading on a 5-minute chart).
Column colors automatically match your chart’s candle colors (green/red/neutral).
Adjustable lookback period (len) and selectable source timeframe (D, W, or M).
Pre-drawn horizontal guide levels at 1.0, 1.2, 1.5, 2, 3, and 5 for quick interpretation.
Compatible with all chart types, including Heikin Ashi or custom color schemes.
Typical Use
Swing trading:
Look for quiet bases where RVOL stays 0.4–0.9, then expansion ≥2 on breakout days.
Confirm follow-through when green days keep RVOL ≥1.2–1.5 and red pullbacks stay below 1.0.
Day trading:
Watch intraday RVOL (on 1–5m charts) for bursts ≥2 that sustain for several bars — this signals crowd engagement and valid momentum.
Interpretation Summary
RVOL Value Meaning Typical Action
0.4–0.9 Quiet base / low interest Watch for setup
1.0 Normal activity Neutral
1.2–1.5 Valid participation Early confirmation
2–3 Strong expansion Momentum / breakout
≥5 Climax / exhaustion Take profits or avoid new entries
Author’s note:
RVOL isn’t directional; it tells how many players are active, not who’s winning. Combine it with structure (levels, VWAP, or trend) to see when the market crowd truly commits.
Relative VolatilityRelative Volatility is a technical indicator designed to assess changes in market volatility by comparing fast and slow Average True Range (ATR) values. It operates by subtracting a slower ATR (e.g., 50-period ATR) from a faster ATR (e.g., 20-period ATR) and visualizing the result as a histogram. This enables traders to determine whether volatility is increasing or decreasing over time.
This indicator can help traders recognize volatility trends, which can inform decisions related to trade entries, exits, and risk management.
Interpreting Volatility Changes
Increasing Volatility: When the histogram is above zero, it indicates that the fast ATR is greater than the slow ATR, signifying an increase in short-term volatility compared to the long-term average. This may suggest heightened market activity and potential trading opportunities.
Decreasing Volatility: When the histogram is below zero, it shows that the fast ATR is less than the slow ATR, indicating a decrease in short-term volatility relative to the long-term average. This may suggest consolidating markets or reduced trading activity.
Relative Volatility assists traders in monitoring and analyzing changes in market volatility, providing insights that can enhance trading strategies and decision-making processes.
Relative Performance Comparison among different sectorsThis script shows how money is moving among different sectors using relative-strength of the corresponding sector-specific largest ETFs against MSCI World. Trend and current value of Relative-strength can be used to determine the sector in which you should make your investment at this point, considering the movement in markets.
Relative PerformanceThis indicator takes the Performance Table from @BeeHolder and converts it to a Relative Performance table so you can compare the current chart vs. an Index (or whatever other ticker you want) to see the relative performance of one vs. the other. I also added a cell for ADR, which is also the same value as "Monthly Volatility" in the stock screener. This can be useful when screening stocks based on performance and volatility.
Relative Performance Dashboard v. 2This is a smaller and cleaner version of my previous Relative Performance table. It looks at the rate of change over 1M, 3M, 6M, 1YR & YTD and displays those for the current chart's ticker vs. an index/ticker of your choosing (SPX is default). I also have some fields for the ADR of the displayed chart, how far away the displayed chart is from 52-week highs, and a single number that compares the average relative strength of the displayed chart vs. the index. The way this average calculates is customizable by the user.
I like using this table next to an Earnings/Sales/Volume table that already exists by another user in the same pane and I designed this one so it can look just like that one to give a great view of the both fundamental and technical strength of your ticker in the same pane.
Keeping fundamental data independent from performance data allows you to still be able to see performance on things without fundamental data (i.e. ETFs, Indices, Crypto, etc.) as any script that uses fundamental data will not display when a chart that does not have fundamental data is displayed.
Relative Daily Change% by SUMIT
"Relative Daily Change%" Indicator (RDC)
The "Relative Daily Change%" indicator compares a stock's average daily price change percentage over the last 200 days with a chosen index.
It plots a colored curve. If the stock's change% is higher than the index, the curve is green, indicating it's doing better. Red means the stock is under-performing.
This indicator is designed to compare the performance of a stock with specific index (as selected) for last 200 candles.
I use this during a breakout to see whether the stock is performing well with comparison to it`s index. As I marked in the chart there was a range zone (red box), we got a breakout with good volume and it is also sustaining above 50 and 200 EMA, the RDC color is also in green so as per my indicator it is performing well. This is how I do fine-tuning of my analysis for a breakout strategy.
You can select Index from the list available in input
**Line Color Green = Avg Change% per day of the stock is more than the Selected Index
**Line Color White = Avg Change% per day of the stock is less than the Selected Index
If you want details of stocks for all index you can ask for it.
Disclaimer : **This is for educational purpose only. It is not any kind of trade recommendation/tips.
Relative VolumeHello traders,
"There's nothing new on Wall Street" is an age-old saying that still shows its relevance in modern day financial markets; volume still serves as a valuable tool for any trader just as it did for those that came and succeeded before us; in order to succeed in modern day markets one has to take it up a notch and dabble in complicated topics, like math. Now I dunno about you reader but I’m not keen on sitting around all day just to watch numbers on a screen; it’s pretty important to add some color into your life before it becomes dull but how can someone add colors into their trading toolkit as an aid rather than bother? With a bit of help from 3 other amazing open-source indicators you too can become a statistics enjoyer by combining math and colors to make pattern recognition much more intuitive and offering more peace of mind when trading. “Sir but how?”, glad you didn’t ask, it helps with simplifying statistics, in this case a Gaussian bellcurve
“HUH?”, you say? Alright class, Gaussian bellcurves for math dislikers 101 is in session
- Imagine that we have a bunch of numbers that we want to graph. We could just draw a line and plot the numbers on it, but that might not be very interesting.
- Instead, we can use the shape of a bell to show how many of each number we have.
- Let's say we have a lot of people and we want to graph how tall they are. We would start by making a line from the shortest person to the tallest person, and then we would draw the bell shape around the line.
- The bell shape is called a "Gaussian Bell Curve," and it shows us how many people are a certain height.
- In the middle of the bell, where it's the widest, we have the most people who are about average height. As we move to the sides of the bell, the curve gets lower because there are fewer people who are really tall or really short.
The bell curve discussed is the main idea for the candle coloring component of this indicator as being able to analyze the distribution of an entire dataset, in this case volume, can alert us when volume/participation in the market is away from its average using color, and therefore an opportunity could be present. Fair warning, it’s important to not strictly focus on volume as volume is meant to be confluence to the current structure of the market rather than causing tunnel vision.
Why 3 indicators to combine?
It starts with the RVOL by Mik3Christ3ns3n indicator as the backbone by calculating the average volume over a specified period of time, and then compares each new volume value to this average to determine whether it is above or below the average. The indicator then normalizes the volume data and calculates the z-score/standard deviation to determine whether the volume is within normal range or is an anomaly beyond a specified threshold which can also be set into an alert to aid in eyeing possible opportunities.
The code also includes Candle Coloring by Morty as it calculates a function to get the z-score for the size of the candle's body, and then compares it to the z-score for volume to determine whether the body size is a factor in the price action.
Finally, the code plots the anomalies and the normalized volume data on the chart using the first RVOL indicator mentioned, and colors the bars of the chart based on whether they are within normal range or are anomalies which comes from using code from veryfid's relative volume indicator.
Overall, this custom technical indicator is best used to identify unusual changes in trading volume, which may indicate potential price movements in the underlying.
How about some examples?
This first example is for my scalpers wanting to get in and out but not having much of an idea where or let alone how; using a tool like VWAP can be great for determining the area value to execute mean reversion trades once a speculator spots a colored candle anomaly at standard deviation band. Works best when VWAP is flat as it signals lack of conviction from both bulls and bears
This second example is for my fire and forget intraweek swing traders who want to execute a higher timeframe trend-following bias. A speculator starting 2023 off notices that the negative sentiment around Binance from late last year has quieted down and has conviction in upside after BTC began an uptrend as monthly VWAP (right chart) has began sloping up as well as a rally with momentum shown with the blue colored candle so the trader waits wait for a pullback for entry. On the chart to the left of the 4H the speculator notices a pullback into the area of interest to do business so a limit bid is left to enter for continued upside in Bitcoin through January 2023 just by keeping things simple
That’s really the main purpose of this indicator: simplicity of statistics for confluence using volume
Volume precedes price and price moves only for narrative to follow- why wait for your subjective Twitter timeline to give you a biased narrative to trade when you can use objective analysis by combining statistics and colors to allow for a cleaner execution process
“But what about risk management?” Glad you didn’t ask reader!
One last example then, we meet our trend following trader again feeling euphoric so they know profit taking season is coming soon but wants to leave emotion out of it. How to go about it? Same idea as our last trend following example: we see on the 4h chart to the right side shows Bitcoin lose and trade back within the 2nd standard deviation of quarterly VWAP which is telling our speculator that the uptrend has broken on top of which notices on the 30 minute chart on the left that aggressive market buyers have been steadily absorbed by limit sellers on multiple occasions of retesting 30,500 shown with the green colored candles and volume bars below, time to sell.
Turns out that selling was proactive risk management because price dumped thereafter
Hope this explanation gave you some useful insights on using statistics as colors from cherrypicked examples, remember that just because my examples are cherrypicked doesn’t invalidate these concepts at all as the market only does two things, initiate aggressive auctions and respond passively to auctions. This tool makes for seeing where that initiative aggressive activity is happening much simpler to deduce if others will respond to an anomaly of initiative aggressive activity or if the aggression will continue.
If there’s just one thing you take from this- simplicity above all, cheers and good luck
Relative VolumeRelative Volume label in percent. So 400% RVol means, today's volume is 4x compared to avg volume for the length you selected.
Relative Strength Comparison_FBMSCAPShows the strength of current symbol relative to strength of another symbol, defaulted to Bursa Malaysia broad market index: FBMSCAP. Best viewed in weekly chart.
Relative Strength Comparison (RSC) Indicator SignalsThis Relative Strength Comparison (RSC) indicator overlays a simple moving average (SMA) of the prior days values and changes color when the RSC crosses above and below that value as an indicator with bearish and bullish signals in comparison to another symbol.
Relative Strength Index (RSI) + Realtime DivergencesRelative Strength Index (RSI) + Realtime Divergences
This version of the RSI indicator includes the following features:
- Optional divergence lines drawn directly onto the oscillator in realtime.
- Configurable alerts to notify you when divergences occur.
- Configurable lookback periods to fine tune the divergences drawn in order to suit different trading styles and timeframes.
- Background colouring option to indicate when the RSI oscillator has crossed above or below its centerline.
- Alternate timeframe feature allows you to configure the oscillator to use data from a different timeframe than the chart it is loaded on.
- Fadeout oscillator feature will fade out all but the most recent history, leaving your chart free of visual noise.
- Flip oscillator feature can be used with the Tradingview 'Flip chart' feature (Alt+i) in order to flip both the chart and the oscillator, too. This feature is to help traders manually spot divergences that may have a strong natural bias in one direction.
- Optional centerline and range bands.
- Various optional moving average types, bollinger bands etc.
This indicator adds additional features onto the standard RSI whose core calculations remain unchanged. Namely, the configurable option to automatically, quickly and clearly draw divergence lines onto the oscillator for you as they occur in realtime. It also has the addition of unique alerts, so you can be notified when divergences occur without spending all day watching the charts. Furthermore, this version of the RSI comes with configurable lookback periods, which can be configured in order to adjust the sensitivity of the divergences, in order to suit shorter or higher timeframe trading approaches.
What is the Relative Strength Index ( RSI )?
Investopedia describes the Relative Strength Index as follows:
“The relative strength index (RSI) is a momentum indicator used in technical analysis. RSI measures the speed and magnitude of a security's recent price changes to evaluate overvalued or undervalued conditions in the price of that security. The RSI is displayed as an oscillator (a line graph) on a scale of zero to 100. The indicator was developed by J. Welles Wilder Jr. and introduced in his seminal 1978 book, New Concepts in Technical Trading Systems.
The RSI can do more than point to overbought and oversold securities. It can also indicate securities that may be primed for a trend reversal or corrective pullback in price. It can signal when to buy and sell. Traditionally, an RSI reading of 70 or above indicates an overbought situation. A reading of 30 or below indicates an oversold condition.”
The RSI is also commonly used to spot divergences.
You can read more about the RSI and its calculations here
What are divergences?
Divergence is when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, or is moving contrary to other data. Divergence warns that the current price trend may be weakening, and in some cases may lead to the price changing direction.
There are 4 main types of divergence, which are split into 2 categories;
regular divergences and hidden divergences. Regular divergences indicate possible trend reversals, and hidden divergences indicate possible trend continuation.
Regular bullish divergence: An indication of a potential trend reversal, from the current downtrend, to an uptrend.
Regular bearish divergence: An indication of a potential trend reversal, from the current uptrend, to a downtrend.
Hidden bullish divergence: An indication of a potential uptrend continuation.
Hidden bearish divergence: An indication of a potential downtrend continuation.
How do traders use divergences in their trading?
A divergence is considered a leading indicator in technical analysis , meaning it has the ability to indicate a potential price move in the short term future.
Hidden bullish and hidden bearish divergences, which indicate a potential continuation of the current trend are sometimes considered a good place for traders to begin, since trend continuation occurs more frequently than reversals, or trend changes.
When trading regular bullish divergences and regular bearish divergences, which are indications of a trend reversal, the probability of it doing so may increase when these occur at a strong support or resistance level . A common mistake new traders make is to get into a regular divergence trade too early, assuming it will immediately reverse, but these can continue to form for some time before the trend eventually changes, by using forms of support or resistance as an added confluence, such as when price reaches a moving average, the success rate when trading these patterns may increase.
Typically, traders will manually draw lines across the swing highs and swing lows of both the price chart and the oscillator to see whether they appear to present a divergence, this indicator will draw them for you, quickly and clearly, and can notify you when they occur.
Setting alerts.
With this indicator you can set alerts to notify you when any/all of the above types of divergences occur, on any chart timeframe you choose.
Configurable pivot periods.
You can adjust the default pivot periods to suit your prefered trading style and timeframe. If you like to trade a shorter time frame, lowering the default lookback values will make the divergences drawn more sensitive to short term price action.
Disclaimer: This script includes code from the stock RSI by Tradingview as well as the Divergence for Many Indicators v4 by LonesomeTheBlue.
Relative Strength Index Remastered [CHE]Relative Strength Index Remastered — Enhanced RSI with robust divergence detection using price-based pivots and line-of-sight validation to reduce false signals compared to the standard RSI indicator.
Summary
RSI Remastered builds on the classic Relative Strength Index by adding a more reliable divergence detection system that relies on price pivots rather than RSI pivots alone, incorporating a line-of-sight check to ensure the RSI path between points remains clear. This approach filters out many false divergences that occur in the original RSI indicator due to its volatile pivot detection on the RSI line itself. Users benefit from clearer reversal and continuation signals, especially in noisy markets, with optional hidden divergence support for trend confirmation. The core RSI calculation and smoothing options remain familiar, but the divergence logic provides materially fewer alerts while maintaining sensitivity.
Motivation: Why this design?
The standard RSI indicator often generates misleading divergence signals because it detects pivots directly on the RSI values, which can fluctuate erratically in volatile conditions, leading to frequent false positives that confuse traders during ranging or choppy price action. RSI Remastered addresses this by shifting pivot detection to the underlying price highs and lows, which are more stable, and adding a validation step that confirms the RSI line does not cross the direct path between pivot points. This design targets the real problem of over-signaling in the original, promoting more actionable insights without altering the RSI's core momentum measurement.
What’s different vs. standard approaches?
- Reference baseline: The classical TradingView RSI indicator, which uses simple RSI-based pivot detection for divergences.
- Architecture differences:
- Pivot identification on price extremes (highs and lows) instead of RSI values, extracting RSI levels at those points for comparison.
- Addition of a line-of-sight validation that checks the RSI path bar by bar between pivots to prevent signals where the line is interrupted.
- Inclusion of hidden divergence types alongside regular ones, using the same robust framework.
- Configurable drawing of connecting lines between validated pivot RSI points for visual clarity.
- Practical effect: Charts show fewer but higher-quality divergence markers and lines, reducing clutter from the original's frequent RSI pivot triggers; this matters for avoiding whipsaws in intraday trading, where the standard version might flag dozens of invalid setups per session.
Key Comparison Aspects
Aspect: Title/Shorttitle
Original RSI: "Relative Strength Index" / "RSI"
Robust Variant: "Relative Strength Index Remastered " / "RSI RM"
Aspect: Max. Lines/Labels
Original RSI: No specification (Standard: 50/50)
Robust Variant: max_lines_count=200, max_labels_count=200 (for more lines/markers in divergences)
Aspect: RSI Calculation & Plots
Original RSI: Identical: RSI with RMA, Plots (line, bands, gradient fills)
Robust Variant: Identical: RSI with RMA, Plots (line, bands, gradient fills)
Aspect: Smoothing (MA)
Original RSI: Identical: Inputs for MA types (SMA, EMA etc.), Bollinger Bands optional
Robust Variant: Identical: Inputs for MA types (SMA, EMA etc.), Bollinger Bands optional
Aspect: Divergence Activation
Original RSI: input.bool(false, "Calculate Divergence") (disabled by default)
Robust Variant: input.bool(true, "Calculate Divergence") (enabled by default, with tooltip)
Aspect: Pivot Calculation
Original RSI: Pivots on RSI (ta.pivotlow/high on RSI values)
Robust Variant: Pivots on price (ta.pivotlow/high on low/high), RSI values then extracted
Aspect: Lookback Values
Original RSI: Fixed: lookbackLeft=5, lookbackRight=5
Robust Variant: Input: L=5 (Pivot Left), R=5 (Pivot Right), adjustable (min=1, max=50)
Aspect: Range Between Pivots
Original RSI: Fixed: rangeUpper=60, rangeLower=5 (via _inRange function)
Robust Variant: Input: rangeUpper=60 (Max Bars), rangeLower=5 (Min Bars), adjustable (min=1–6, max=100–300)
Aspect: Divergence Types
Original RSI: Only Regular Bullish/Bearish: - Bull: Price LL + RSI HL - Bear: Price HH + RSI LH
Robust Variant: Regular + Hidden (optional via showHidden=true): - Regular Bull: Price LL + RSI HL - Regular Bear: Price HH + RSI LH - Hidden Bull: Price HL + RSI LL - Hidden Bear: Price LH + RSI HH
Aspect: Validation
Original RSI: No additional check (only pivot + range check)
Robust Variant: Line-of-Sight Check: RSI line must not cross the connecting line between pivots (line_clear function with slope calculation and loop for each bar in between)
Aspect: Signals (Plots/Shapes)
Original RSI: - Plot of pivot points (if divergence) - Shapes: "Bull"/"Bear" at RSI value, offset=-5
Robust Variant: - No pivot plots, instead shapes at RSI , offset=-R (adjustable) - Shapes: "Bull"/"Bear" (Regular), "HBull"/"HBear" (Hidden) - Colors: Lime/Red (Regular), Teal/Orange (Hidden)
Aspect: Line Drawing
Original RSI: No lines
Robust Variant: Optional (showLines=true): Lines between RSI pivots (thick for regular, dashed/thin for hidden), extend=none
Aspect: Alerts
Original RSI: Only Regular Bullish/Bearish (with pivot lookback reference)
Robust Variant: Regular Bullish/Bearish + Hidden Bullish/Bearish (specific "at latest pivot low/high")
Aspect: Robustness
Original RSI: Simple, prone to false signals (RSI pivots can be volatile)
Robust Variant: Higher: Price pivots are more stable, line-of-sight filters "broken" divergences, hidden support for trend continuations
Aspect: Code Length/Structure
Original RSI: ~100 lines, simple if-blocks for bull/bear
Robust Variant: ~150 lines, extended helper functions (e.g., inRange, line_clear), var group for inputs
How it works (technical)
The indicator first computes the core RSI value based on recent price changes, separating upward and downward movements over the specified length and smoothing them to derive a momentum reading scaled between zero and one hundred. This value is then plotted in a separate pane with fixed upper and lower reference lines at seventy and thirty, along with optional gradient fills to highlight overbought and oversold zones.
For smoothing, a moving average type is applied to the RSI if enabled, with an option to add bands around it based on the variability of recent RSI values scaled by a multiplier. Divergence detection activates on confirmed price pivots: lows for bullish checks and highs for bearish. At each new pivot, the system retrieves the bar index and values (price and RSI) for the current and prior pivot, ensuring they fall within a configurable bar range to avoid unrelated points.
Comparisons then assess whether the price has made a lower low (or higher high) while the RSI at those points moves in the opposite direction—higher for bullish regular, lower for bearish regular. For hidden types, the directions reverse to capture trend strength. The line-of-sight check calculates the straight path between the two RSI points and verifies that the actual RSI values in between stay entirely above (for bullish) or below (for bearish) that path, breaking the signal if any bar violates it. Valid signals trigger shapes at the RSI level of the new pivot and optional lines connecting the points. Initialization uses built-in functions to track prior occurrences, with states persisting across bars for accurate historical comparisons. No higher timeframe data is used, so confirmation occurs after the right pivot bars close, minimizing live-bar repaints.
Parameter Guide
Length — Controls the period for measuring price momentum changes — Default: 14 — Trade-offs/Tips: Shorter values increase responsiveness but add noise and more false signals; longer smooths trends but delays entries in fast markets.
Source — Selects the price input for RSI calculation — Default: Close — Trade-offs/Tips: Use high or low for volatility focus, but close works best for most assets; mismatches can skew overbought/oversold reads.
Calculate Divergence — Enables the enhanced divergence logic — Default: True — Trade-offs/Tips: Disable for pure RSI view to save computation; essential for signal reliability over the standard method.
Type (Smoothing) — Chooses the moving average applied to RSI — Default: SMA — Trade-offs/Tips: None for raw RSI; EMA for quicker adaptation, but SMA reduces whipsaws; Bollinger Bands option adds volatility context at cost of added lines.
Length (Smoothing) — Period for the smoothing average — Default: 14 — Trade-offs/Tips: Match RSI length for consistency; shorter boosts signal speed but amplifies noise in the smoothed line.
BB StdDev — Multiplier for band width around smoothed RSI — Default: 2.0 — Trade-offs/Tips: Lower narrows bands for tighter signals, risking more touches; higher widens for fewer but stronger breakouts.
Pivot Left — Bars to the left for confirming price pivots — Default: 5 — Trade-offs/Tips: Increase for stricter pivots in noisy data, reducing signals; too high delays confirmation excessively.
Pivot Right — Bars to the right for confirming price pivots — Default: 5 — Trade-offs/Tips: Balances with left for symmetry; longer right ensures maturity but shifts signals backward.
Max Bars Between Pivots — Upper limit on distance for valid pivot pairs — Default: 60 — Trade-offs/Tips: Tighten for short-term trades to focus recent action; widen for swing setups but risks unrelated comparisons.
Min Bars Between Pivots — Lower limit to avoid clustered pivots — Default: 5 — Trade-offs/Tips: Raise to filter micro-moves; too low invites overlapping signals like the original RSI.
Detect Hidden — Includes trend-continuation hidden types — Default: True — Trade-offs/Tips: Enable for full trend analysis; disable simplifies to reversals only, akin to basic RSI.
Draw Lines — Shows connecting lines between valid pivots — Default: True — Trade-offs/Tips: Turn off for cleaner charts; helps visually confirm line-of-sight in backtests.
Reading & Interpretation
The main RSI line oscillates between zero and one hundred, crossing above fifty suggesting building momentum and below indicating weakness; touches near seventy or thirty flag potential extremes. The optional smoothed line and bands provide a filtered view—price above the upper band on the RSI pane hints at overextension. Divergence shapes appear as upward labels for bullish (lime for regular, teal for hidden) and downward for bearish (red regular, orange hidden) at the pivot's RSI level, signaling a mismatch only after validation. Connecting lines, if drawn, slope between points without RSI interference, their color matching the shape type; a dashed style denotes hidden. Fewer shapes overall compared to the standard RSI mean higher conviction, but always confirm with price structure.
Practical Workflows & Combinations
- Trend following: Enter longs on regular bullish shapes near support with higher highs in price; filter hidden bullish for pullback buys in uptrends, pairing with a rising smoothed RSI above fifty.
- Exits/Stops: Use bearish regular as reversal warnings to tighten stops; hidden bearish in downtrends confirms continuation—exit if lines show RSI crossing the path.
- Multi-asset/Multi-TF: Defaults suit forex and stocks on one-hour charts; for crypto volatility, widen pivot ranges to ten; scale min/max bars proportionally on daily for swings, avoiding the original's intraday spam.
Behavior, Constraints & Performance
Signals confirm only after the right pivot bars close, so live bars may show tentative pivots that vanish on close, unlike the standard RSI's immediate RSI-pivot triggers—plan for this delay in automation. No higher timeframe calls, so no security-related repaints. Resources include up to two hundred lines and labels for dense charts, with a loop in validation scanning up to three hundred bars between pivots, which is efficient but could slow on very long histories. Known limits: Slight lag at pivot confirmation in trending markets; volatile RSI might rarely miss fine path violations; not ideal for gap-heavy assets where pivots skip.
Sensible Defaults & Quick Tuning
Start with defaults for balanced momentum and divergence on most timeframes. For too many signals (like the original), raise pivot left/right to eight and min bars to ten to filter noise. If sluggish in trends, shorten RSI length to nine and enable EMA smoothing for faster adaptation. In high-volatility assets, widen max bars to one hundred but disable hidden to focus essentials. For clean reversal hunts, set smoothing to none and lines on.
What this indicator is—and isn’t
RSI Remastered serves as a refined momentum and divergence visualization tool, enhancing the standard RSI for better signal quality in technical analysis setups. It is not a standalone trading system, nor does it predict price moves—pair it with volume, structure breaks, and risk rules for decisions. Use alongside position sizing and broader context, not in isolation.
Disclaimer
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
Do not use this indicator on Heikin-Ashi, Renko, Kagi, Point-and-Figure, or Range charts, as these chart types can produce unrealistic results for signal markers and alerts.
Best regards and happy trading
Chervolino
Relative Strength of 2 securities - Jayy This is an update of the Relative Strength to index as used by Leaf_West.. 4th from the top. my original RS script is 3rd from the top.
In this use of the term " Relative Strength" (RS) what is meant is a ratio of one security to another.
The RS can be inerpreted in a fashion similar to price action on a regual security chart.
If you follow his methods be aware of the different moving averages for the different time periods.
From Leaf_West: "on my weekly and monthly R/S charts, I include a 13 EMA of the R/S (brown dash line) and
an 8 SMA of the 13 EMA (pink solid line). The indicator on the bottom of the weekly/monthly charts is an
8 period momentum indicator of the R/S line. The red horizontal line is drawn at the zero line.
For daily or 130-minute time periods (or shorter), my R/S charts are slightly different
- the moving averages of the R/S line include a 20EMA (brown dash line), a 50 EMA (blue dash line) and
an 8 SMA of the20 EMA (pink solid line). The momentum indicator is also slightly different from the weekly/monthly
charts – here I use a 12 period calculation (vs 8 SMA period for the weekly/monthly charts)."
Leaf's website has gone but I if you are interested in his methods message me.
What is different from my previous RS: The RS now displays RS candles. So if you prefer to watch price action of candles to
a line chart which only plots the ratio of closes then this will be more interesting to you.
I have also thrown in a few options to have fun with.
Jayy
Relative Strength Volume ComparisonThe Relative Strength Volume Comparison is a powerful tool that can help traders identify the current trend based on volume pressure and potential reversals.
This oscillator is made of two lines and the overbought and oversold levels. Each of these two lines is a relative-strength formula that contains both the famous RSI and CCI formulas, smoothed by a Hull moving average.
The two lines are different for input. The colored line is based just on price and changes color based on the relation with the other line. The second line uses as input an average of three different popular volume indicators: The OBV, the Accumulation/Distribution, and the PVT.
Thanks to this tool, which uses 6 different formulas combined, traders can:
- Identify the current trend direction, based on the color of the area fill and the first colored line
- Identify potential reversal areas thanks to the overbought and oversold levels, customizable in the input section alongside the length and smoothing parameters.
