Volume Weighted Real Relative Strength (VRRS) measures the relative strength of a tickers vs. a benchmark ticker for the market, i.e. SPY, and a benchmark ticker for the sector it is in. The calculation of VRRS is done as follow:
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. SPY) and one for a sector benchmark. 2. It shows also the bar plot of the benchmark ticker.
ملاحظات الأخبار
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
ملاحظات الأخبار
Fix bug for accurate reference plotting
ملاحظات الأخبار
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
ملاحظات الأخبار
Add option to disable/enable Auto Sector Selection
ملاحظات الأخبار
Volume Weighted is now optional
Faster loading
ملاحظات الأخبار
Add comment
ملاحظات الأخبار
Fix typo
ملاحظات الأخبار
Improve loading time
ملاحظات الأخبار
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)
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. يمكنك جعله مفضلاً لاستخدامه على الرسم البياني.
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