I’m not talking about RSI but simply relative strength, it’s an indicator which allows us to compare the strength of one instrument against another to figure out which one is stronger, which one is leading and which one is lagging, generally traders use relative strength to analyze stocks which are leading the general market, they do this by comparing them to general indices like Nifty 50 or sensex, this hepls us to spot leading sectors, leading stocks and also where the money is being shifted to, almost every profession and successful trader use relative strength, This technique was also popularized by William o Neil and his Publication Investors business daily, you can find it on marketsmith platforms, to do this analysis I currently use tradingview, I would love to see this being implemented into dhan’s tradingivew, recently you’ve added CPR Indicator, I hope you do the same with relative strength.
Your request is noted. We have request for some other indicators as well. We will try to incorporate this as well in our roadmap.
Will wait patiently
If you need pine script i could provide that as well can you please add this ASAP
study(“Comparative Relative Strength”, shorttitle=“RS”)
compare_ticker = input(“NIFTY”, type=input.symbol, title=“Comparative Symbol”)
base_sym = security(syminfo.tickerid, timeframe.period, close)
compare_sym = security(compare_ticker, timeframe.period, close)
rs = base_sym/compare_sym
plot(rs, title=“RS”, color=color.yellow, linewidth=1)
Lol … They are concentrating on some useless stuffs at the moment I believe instead of the request posted in this community.
Relative Strength Indicator is already WIP. We are making it on priority. You will soon get an update on this.
@Naman Thanks for comparitive relative strength. Dhan is only broker who provide it. Just wanted to quickly check the moving avarage used in it is simple MA or expontial MA.
Also, If you have any article that provide these details please share as you haven’t written much about it but in actual it is your differentiators.