Industry Indices Comparison - SWE: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

213 lines of Pine Script v6 from PineScript/industry-indices-comparison-SWE.pine, published under MPL-2.0. Keep the author's credit and licence lines when you reuse it.

industry-indices-comparison-SWE.pine

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © kruskakli
//@version=6
// @description A dynamic industry sector performance comparison indicator that helps traders and investors
// track relative strength across different market sectors in real-time.
//
// Features:
// - Compares up to 5 industry sector ETFs against a benchmark index (default: SPY)
// - Displays key metrics including:
//   * Current price
//   * Performance % over selected timeframe
//   * Relative performance vs benchmark
//   * Trend direction (▲ up, ▼ down, − neutral)
//   * Volume in millions (M) of shares traded
// - Configurable timeframes: 1D, 1W, 1M, 3M, and YTD comparisons
// - Color-coded performance indicators (green for outperformance, red for underperformance)
// - Customizable table position and text size for optimal chart placement
//
// Default Configuration:
// - Benchmark: SPY (S&P 500 ETF)
// - Industry Indices: XLK (Technology), XLF (Financials), XLE (Energy), XLV (Healthcare), XLI (Industrials)
// - Timeframe: 1M (Monthly comparison)
//
// The indicator helps identify:
// 1. Sector rotation patterns through relative performance
// 2. Leading and lagging sectors vs the broader market
// 3. Volume trends across different sectors
// 4. Sector-specific momentum through trend indicators
//
// Usage:
// - Monitor sector performance relative to the market benchmark
// - Identify strong sectors for potential long positions
// - Spot weak sectors for potential short positions or sector rotation
// - Track volume patterns for confirmation of sector moves
//
// Note: Performance calculations are based on price change over the selected timeframe,
// with relative performance measured against the benchmark index.

indicator("Industry Indices Comparison - SWE", overlay=true)

// Color constants
GREEN = color.new(#26a69a, 0)
RED = color.new(#ef5350, 0)
GRAY = color.new(#787B86, 0)
TEXT_COLOR = color.new(#FFFFFF, 0)

// Input parameters
// Benchmark selection
benchmarkSymbol = input.symbol("OMXSTO:OMXSPI", "Benchmark Index", group="Index Selection")

// Industry indices selection
index1Symbol = input.symbol("SX10PI", "Technology Index", group="Index Selection")
index2Symbol = input.symbol("SX30PI", "Financials Index", group="Index Selection")
index3Symbol = input.symbol("SX60PI", "Energy Index", group="Index Selection")
index4Symbol = input.symbol("SX20PI", "Healthcare Index", group="Index Selection")
index5Symbol = input.symbol("SX50PI", "Industrials Index", group="Index Selection")
index6Symbol = input.symbol("SX55PI", "Materials Index", group="Index Selection")
index7Symbol = input.symbol("SX45PI", "Consum.Staples Index", group="Index Selection")
index8Symbol = input.symbol("SX35PI", "Real Estate Index", group="Index Selection")
index9Symbol = input.symbol("SX65PI", "Utilities Index", group="Index Selection")
index10Symbol = input.symbol("SX40PI", "Consum.Disc Index", group="Index Selection")
index11Symbol = input.symbol("SX15PI", "Telecom Index", group="Index Selection")

// Industry names
index1Name = input.string("Teknik", "Technology Name", group="Industry Names")
index2Name = input.string("Finans", "Financials Name", group="Industry Names")
index3Name = input.string("Energi", "Energy Name", group="Industry Names")
index4Name = input.string("Hälsovård", "Healthcare Name", group="Industry Names")
index5Name = input.string("Industri", "Industrials Name", group="Industry Names")
index6Name = input.string("Råvaror", "Materials Name", group="Industry Names")
index7Name = input.string("Dagligvaror", "Consum.Staples Name", group="Industry Names")
index8Name = input.string("Fastigheter", "Real Estate Name", group="Industry Names")
index9Name = input.string("Kraftförsörjning", "Utilities Name", group="Industry Names")
index10Name = input.string("Sällanköpsvaror", "Consum.Disc Name", group="Industry Names")
index11Name = input.string("Telekom", "Telecom Name", group="Industry Names")

// Timeframe selection
timeframeInput = input.string("1M", "Comparison Timeframe", options=["1D", "1W", "1M", "3M"], group="Settings")

// Visual settings
tablePosition = input.string("Top Right", "Table Position", options=["Top Right", "Top Left", "Bottom Right", "Bottom Left"], group="Appearance")
textSize = input.string("Small", "Text Size", options=["Tiny", "Small", "Normal"], group="Appearance")
outperformColor = input.color(GREEN, "Outperform Color", group="Appearance")
underperformColor = input.color(RED, "Underperform Color", group="Appearance")

// Helper functions
getTimeframeOffset() =>
    offset = switch timeframeInput
        "1D" => 1
        "1W" => 7
        "1M" => 30
        "3M" => 90
        => 30  // Default to 1M

getPerformance(sym) =>
    float performance = 0.0
    offset = getTimeframeOffset()
    [currentClose, prevClose] = request.security(sym, timeframe.period, [close, close[offset]])
    if prevClose != 0
        performance := ((currentClose - prevClose) / prevClose) * 100
    performance

// Calculate performances
var benchmarkPerf = 0.0
var index1Perf = 0.0
var index2Perf = 0.0
var index3Perf = 0.0
var index4Perf = 0.0
var index5Perf = 0.0
var index6Perf = 0.0
var index7Perf = 0.0
var index8Perf = 0.0
var index9Perf = 0.0
var index10Perf = 0.0
var index11Perf = 0.0

if barstate.islast
    benchmarkPerf := getPerformance(benchmarkSymbol)
    index1Perf := getPerformance(index1Symbol)
    index2Perf := getPerformance(index2Symbol)
    index3Perf := getPerformance(index3Symbol)
    index4Perf := getPerformance(index4Symbol)
    index5Perf := getPerformance(index5Symbol)
    index6Perf := getPerformance(index6Symbol)
    index7Perf := getPerformance(index7Symbol)
    index8Perf := getPerformance(index8Symbol)
    index9Perf := getPerformance(index9Symbol)
    index10Perf := getPerformance(index10Symbol)
    index11Perf := getPerformance(index11Symbol)

// Calculate relative performances
relativePerf1 = index1Perf - benchmarkPerf
relativePerf2 = index2Perf - benchmarkPerf
relativePerf3 = index3Perf - benchmarkPerf
relativePerf4 = index4Perf - benchmarkPerf
relativePerf5 = index5Perf - benchmarkPerf
relativePerf6 = index6Perf - benchmarkPerf
relativePerf7 = index7Perf - benchmarkPerf
relativePerf8 = index8Perf - benchmarkPerf
relativePerf9 = index9Perf - benchmarkPerf
relativePerf10 = index10Perf - benchmarkPerf
relativePerf11 = index11Perf - benchmarkPerf

// Format numbers
formatPerf(value) =>
    str.tostring(math.round(value, 2)) + "%"

// Table position
var tablePos = switch tablePosition
    "Top Right" => position.top_right
    "Top Left" => position.top_left
    "Bottom Right" => position.bottom_right
    "Bottom Left" => position.bottom_left
    => position.top_right

// Text size
var txtSize = switch textSize
    "Tiny" => size.tiny
    "Small" => size.small
    "Normal" => size.normal
    => size.small

// Create and populate table
var table perfTable = table.new(tablePos, 6, 13, border_width=1)

// Function to determine trend
getTrendSymbol(perf) =>
    perf > 0 ? "▲" : perf < 0 ? "▼" : "−"

// Function to get cell color based on performance
getCellColor(perf) =>
    perf > 0 ? outperformColor : perf < 0 ? underperformColor : GRAY

// Function to add index row
addIndexRow(sym, name, perf, relPerf, rowNum) =>
    [price, vol] = request.security(sym, timeframe.period, [close, volume])
    table.cell(perfTable, 0, rowNum, name, text_color=TEXT_COLOR, text_size=txtSize)
    table.cell(perfTable, 1, rowNum, str.tostring(math.round(price, 2)), text_color=TEXT_COLOR, text_size=txtSize)
    table.cell(perfTable, 2, rowNum, formatPerf(perf), text_color=TEXT_COLOR, bgcolor=getCellColor(perf), text_size=txtSize)
    table.cell(perfTable, 3, rowNum, formatPerf(relPerf), text_color=TEXT_COLOR, bgcolor=getCellColor(relPerf), text_size=txtSize)
    table.cell(perfTable, 4, rowNum, getTrendSymbol(perf), text_color=getCellColor(perf), text_size=txtSize)
    table.cell(perfTable, 5, rowNum, str.tostring(math.round(vol/1000000, 1)) + "M", text_color=TEXT_COLOR, text_size=txtSize)

if barstate.islast
    // Headers
    table.cell(perfTable, 0, 0, "Industry", bgcolor=GRAY, text_color=TEXT_COLOR, text_size=txtSize)
    table.cell(perfTable, 1, 0, "Price", bgcolor=GRAY, text_color=TEXT_COLOR, text_size=txtSize)
    table.cell(perfTable, 2, 0, timeframeInput + " %", bgcolor=GRAY, text_color=TEXT_COLOR, text_size=txtSize)
    table.cell(perfTable, 3, 0, "vs " + benchmarkSymbol, bgcolor=GRAY, text_color=TEXT_COLOR, text_size=txtSize)
    table.cell(perfTable, 4, 0, "Trend", bgcolor=GRAY, text_color=TEXT_COLOR, text_size=txtSize)
    table.cell(perfTable, 5, 0, "Volume", bgcolor=GRAY, text_color=TEXT_COLOR, text_size=txtSize)

    // Benchmark row
    [benchPrice, benchVol] = request.security(benchmarkSymbol, timeframe.period, [close, volume])
    table.cell(perfTable, 0, 1, benchmarkSymbol, text_color=TEXT_COLOR, text_size=txtSize)
    table.cell(perfTable, 1, 1, str.tostring(math.round(benchPrice, 2)), text_color=TEXT_COLOR, text_size=txtSize)
    table.cell(perfTable, 2, 1, formatPerf(benchmarkPerf), text_color=TEXT_COLOR, bgcolor=getCellColor(benchmarkPerf), text_size=txtSize)
    table.cell(perfTable, 3, 1, "Benchmark", text_color=TEXT_COLOR, text_size=txtSize)
    table.cell(perfTable, 4, 1, getTrendSymbol(benchmarkPerf), text_color=getCellColor(benchmarkPerf), text_size=txtSize)
    table.cell(perfTable, 5, 1, str.tostring(math.round(benchVol/1000000, 1)) + "M", text_color=TEXT_COLOR, text_size=txtSize)

    // Add industry index rows
    addIndexRow(index1Symbol, index1Name, index1Perf, relativePerf1, 2)
    addIndexRow(index2Symbol, index2Name, index2Perf, relativePerf2, 3)
    addIndexRow(index3Symbol, index3Name, index3Perf, relativePerf3, 4)
    addIndexRow(index4Symbol, index4Name, index4Perf, relativePerf4, 5)
    addIndexRow(index5Symbol, index5Name, index5Perf, relativePerf5, 6)
    addIndexRow(index6Symbol, index6Name, index6Perf, relativePerf6, 7)
    addIndexRow(index7Symbol, index7Name, index7Perf, relativePerf7, 8)
    addIndexRow(index8Symbol, index8Name, index8Perf, relativePerf8, 9)
    addIndexRow(index9Symbol, index9Name, index9Perf, relativePerf9, 10)
    addIndexRow(index10Symbol, index10Name, index10Perf, relativePerf10, 11)
    addIndexRow(index11Symbol, index11Name, index11Perf, relativePerf11, 12)

Overview

Industry Indices Comparison - SWE tracks up to eleven Swedish industry sector indices against a selected benchmark index. The indicator calculates current prices, percentage performance over a selected timeframe, relative performance vs the benchmark, trend direction, and volume. Users can customize sector symbols, display names, comparison timeframes, table placement, and status colors to quickly spot market leaders and laggards.

Relative sector performance vs benchmark
Dynamic sector dashboard table overlay
Customizable industry index tickers and names
Multi-timeframe relative strength tracking

Details

Published by

etnt on GitHub

Code credit

kruskakli, as written in the script's header

Type

Indicator, Pine Script v6

Draws

On the price chart

Markets

Stocks, Indices

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

PineScript/industry-indices-comparison-SWE.pine

Repository

github.com/etnt/stocks. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Benchmark Index	`symbol`	`OMXSTO:OMXSPI`	`benchmarkSymbol`
Technology Index	`symbol`	`SX10PI`	`index1Symbol`
Financials Index	`symbol`	`SX30PI`	`index2Symbol`
Energy Index	`symbol`	`SX60PI`	`index3Symbol`
Healthcare Index	`symbol`	`SX20PI`	`index4Symbol`
Industrials Index	`symbol`	`SX50PI`	`index5Symbol`
Materials Index	`symbol`	`SX55PI`	`index6Symbol`
Consum.Staples Index	`symbol`	`SX45PI`	`index7Symbol`
Real Estate Index	`symbol`	`SX35PI`	`index8Symbol`
Utilities Index	`symbol`	`SX65PI`	`index9Symbol`
Consum.Disc Index	`symbol`	`SX40PI`	`index10Symbol`
Telecom Index	`symbol`	`SX15PI`	`index11Symbol`

Show all 28 settings

Setting	Type	Default	Variable
Technology Name	`string`	`Teknik`	`index1Name`
Financials Name	`string`	`Finans`	`index2Name`
Energy Name	`string`	`Energi`	`index3Name`
Healthcare Name	`string`	`Hälsovård`	`index4Name`
Industrials Name	`string`	`Industri`	`index5Name`
Materials Name	`string`	`Råvaror`	`index6Name`
Consum.Staples Name	`string`	`Dagligvaror`	`index7Name`
Real Estate Name	`string`	`Fastigheter`	`index8Name`
Utilities Name	`string`	`Kraftförsörjning`	`index9Name`
Consum.Disc Name	`string`	`Sällanköpsvaror`	`index10Name`
Telecom Name	`string`	`Telekom`	`index11Name`
Comparison Timeframe	`string`	`1M`	`timeframeInput`
Table Position	`string`	`Top Right`	`tablePosition`
Text Size	`string`	`Small`	`textSize`
Outperform Color	`color`	`GREEN`	`outperformColor`
Underperform Color	`color`	`RED`	`underperformColor`

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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