Relative Strength (RS) Line

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ThinkorSwim Edition

Relative Strength Script

Features

Number 1

Pink Dot

013 number 2

Raw RS Rating

024 number 3

Direction-Based

034 number four

Fully Customizable

045 number 5

Green Dot

Audio RS Alerts

Relative Strength Script

Pink Dot & Green Dot

The Pink Dot symbolizes the RS Line reaching new highs before price.

RS New Highs Before Price (RSNHBP) is often indicative of a break out emerging.

The Green Dot signals the RS line is making a new high. (RSNH)


Relative Strength Script

Raw Relative Strength Rating

The RS Line Script features an RS Rating from 1-99 with 99 being the strongest rating. This measures the stock’s performance relative to the S&P 500.


Relative Strength Script

Direction-Based

The RS Line is color coated depending on its most recent direction.

Easily glance and see phases of relative strength on the chart.


Relative Strength Script

Fully Customizable

Make it your own! In settings you can:

  • Hide Relative Strength Rating
  • Hide Green Dot
  • Hide Pink Dot
  • Calculate Relative Strength vs Any Index
  • Change Line Up/Line Down Colors
  • & More

Relative Strength Script

Audio RS Alerts

Right click on the Relative Strength Line to set alerts based on two conditions: Relative Strength New High (Green Dot) or Relative Strength New Highs Before Price (Pink Dot).

Instructions

  1. Launch ThinkorSwim on your computer
  2. Click Set Up on the top right of your ThinkorSwim application and click Open Shared Item
  3. Under Shared Item URL: https://tos.mx/sR2gdev
  4. Click Preview then Click Import
  5. Right Click the Chart, look for Studies > Edit Studies
  6. Under Studies Tab search for TraderLion Relative Strength Line
  7. Double Click The Script to add it.
  8. Click Apply
Script instructions

Contributors

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