Determine the relative strength of a stock vis-a-vis a larger benchmark. Default is NIFTY50.
Key Features: Sector Mapping: The script identifies the stock's sector using predefined arrays for sector stocks (e.g., healthcareStocks, energyStocks). It maps the stock to its sector index, like NSE:CNXIT for IT stocks. Relative Strength Calculation: The RS is calculated by comparing the stock's price movements with its sector index or the default index. Customizable Options: Period (length) for RS calculation. Display options like zero line, reference labels, trend color, etc. Visual Enhancements: Trend colors for RS crossovers. Option to show moving averages of RS or price for confirmation.
Determine the relative strength of a stock vis-a-vis a larger benchmark. Default is NIFTY50.
Key Features: Sector Mapping: The script identifies the stock's sector using predefined arrays for sector stocks (e.g., healthcareStocks, energyStocks). It maps the stock to its sector index, like NSE:CNXIT for IT stocks. Relative Strength Calculation: The RS is calculated by comparing the stock's price movements with its sector index or the default index. Customizable Options: Period (length) for RS calculation. Display options like zero line, reference labels, trend color, etc. Visual Enhancements: Trend colors for RS crossovers. Option to show moving averages of RS or price for confirmation.
updated by: Sheladiya_Aakash , Vijay0388
note:- original author bharatTrader original script :