ETF x STOCKS SCREENER - [RZ]

ETFS x Stocks Screener

Overview
The ETFS Screener is a comprehensive sector-based ETF analysis tool designed to help traders identify trend direction and relative strength across multiple ETF sectors. This indicator combines automated sector screening with a customizable manual watchlist, providing a dual-table dashboard for efficient market analysis.

Features

Table 1 — Automated Sector ETF Screener
This table dynamically lists ETFs organized by sector, automatically calculating and displaying:

• Ticker Symbol & Label: Quick identification of each ETF
  
• Trend Status: Current trend direction (Bullish/Bearish)
  
• RS Score: Relative Strength score measured against SPY as the benchmark index
  
• Automatic Ranking: ETFs are sorted by RS Score for easy identification of sector leaders and laggards
  

Table 2 — Manual Watchlist
A customizable watchlist allowing users to:

• Add up to 3 custom sectors via indicator inputs
  
• Add up to 4 tickers per sector via indicator inputs
  
• View computed trend status for each manually added ticker
  

How It Works
Trend Calculation Logic
The indicator determines trend direction using a triple EMA confirmation system:

• Bullish: 10 EMA > 20 EMA AND Close Price > 50 EMA
  
• Bearish: 10 EMA < 20 EMA
  

This approach requires both short-term momentum alignment and price position above the medium-term average for bullish confirmation.

Relative Strength (RS) Score Calculation
The RS Score measures an ETF's performance relative to the SPY index:

• Ratio Calculation: Ticker Close Price ÷ SPY Close Price
  
• Spread Computation: Calculated using the spread between the 10/20 EMA and 50 EMA of the ratio
  

Higher RS Scores indicate stronger relative performance compared to the broader market.

Technical Notes

• No Repainting: The indicator uses barstate.isconfirmed to ensure all calculations are performed only on confirmed (closed) bars, preventing any repainting issues
  
• Performance Optimized: External library integration is utilized for trend and RS score calculations to maintain optimal performance.
  How to UseApply the indicator to your chart
• For the Automated Screener: Monitor the first table to identify sector ETFs ranked by relative strength and their current trend status
  
• For the Manual Watchlist: Configure your preferred sectors and tickers in the indicator settings to track specific instruments
  

Mapping ETFs - TV sectors

• XLC - Communications
  
• XLY - Consumer Durables + Consumer Serivces + Retail Trade
  
• XLP - Consumer Non-Durables + Retail Trade
  
• XLE - Energy Minerals
  
• XLF - Finance
  
• XLV - Health Services + Health Technology
  
• XLI - Industrial Services + Producer Manufacturing + Transportation + Distribution Services + Commercial Services
  
• XLK - Electronic Technology + Technology Services
  
• XLB - Non-Energy Minerals + Process Industries
  
• XLRE - Real Estate only
  
• XLU - Utilities
  

Disclaimer
⚠️ This indicator is for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or a solicitation to buy or sell any securities.

Past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. Trading involves significant risk of loss and is not suitable for all investors.