The Hidden Relative Strength indicator normalizes price changes of a symbol by dividing them by ATR volatility, then subtracts the normalized move of a benchmark symbol such as QQQ to derive raw relative strength.
This value is accumulated over time, scaled by 10 for visualization, and optionally smoothed with a signal line SMA. It plots the RS line and signal line in a separate pane. Users can select the benchmark symbol, ATR period and type, signal visibility, and signal period. The script issues crossover alerts when the RS line breaks above the signal. It is suitable for stocks and indices across any timeframes but requires manual interpretation since there are no predefined exit rules.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Benchmark Symbol
symbol
NASDAQ:QQQ
sym_bench
ATR Period
int
5
len_atr
ATR Type
string
Simple (SMA)
calc_type
Show Signal Line?
bool
false
show_sig
Signal MA Period
int
20
len_sig
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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