Relative Strength (RS) Line
ThinkorSwim Edition
Features
Pink Dot
Raw RS Rating
Direction-Based
Fully Customizable
Green Dot
Audio RS Alerts
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)
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.
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.
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
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
- Launch ThinkorSwim on your computer
- Click Set Up on the top right of your ThinkorSwim application and click Open Shared Item
- Under Shared Item URL: https://tos.mx/sR2gdev
- Click Preview then Click Import
- Right Click the Chart, look for Studies > Edit Studies
- Under Studies Tab search for TraderLion Relative Strength Line
- Double Click The Script to add it.
- Click Apply
Contributors
@Diamond_Stock
