Volume Weighted Real Relative Strength (RS/RW)

Volume Weighted Real Relative Strength (VRRS) measures the relative strength of a tickers vs. a benchmark ticker for the market, i.e. , and a benchmark ticker for the sector it is in. The calculation of VRRS is done as follow:

VRRS = [ ( Close - smaClose) / smaClose - ( RefClose - RefsmaClose) / RefsmaClose ] * VolWeighted * 100

Where:
Close is Close price
smaClose is the last simple moving average value.
Ref is Reference ticker
VolWeighted is the volume weighted factor and is defined as (smaVol_short / smaVol_long); where smaVol_short, smaVol_long are the simple moving average of volume calculated for a short period (i.e. 21 period) and long period (i.e. 5 days), respectively.

Feature:
1. It can show two VRRS, one calculated against a market benchmark (i.e. ) and one for a sector benchmark.
2. It shows also the bar plot of the benchmark ticker.

Notes de version

This update:
- Updating default value
- Cleaning the code
- Using better default color

In previous description, the formula was cutoff. It should be read
VRRS = ( (Close - smaClose)/smaClose - (RefClose - RefsmaClose)/RefsmaClose ) * VolWeighted * 100

Notes de version

Fix bug for accurate reference plotting

Notes de version

This update includes

Fix bug on displaying SPY intra day change
Add change rate of VRRS. This measure the rate at which the VRRS changes from bar to bar. It is calculated by using linear regression of the last number of bar (set by user). The Certainty measures how good this calculation is. 100% means completely linearly growth.
Select sector automatically for sector VRRS

Notes de version

Add option to disable/enable Auto Sector Selection

Notes de version

Volume Weighted is now optional
Faster loading

Notes de version

Add comment

Notes de version

Fix typo

Notes de version

Improve loading time

Notes de version

The automatic option to select sector reference causes about 5-10 second delay on the first load. I am still trying to find solution for it. If user does not want this option and want to do manual sector selection (much faster), please do the following

Comment out line 130 (add // at the beginning of the line)
Uncomment out lines 132 and 133 (remove // at the beginning of the lines)
Save the code (Ctrl + S)

Script open-source

Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.

dealsatm

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Script open-source

dealsatm