RS vs KLCI 63d measures the relative strength of a stock compared to a benchmark index over a customizable lookback period, defaulting to 63 trading days against the FTSE Malaysia KLCI.
1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
RS vs KLCI 63d calculates the difference between the stock's percentage return and the benchmark's return, plotting a color-coded performance line in a separate pane alongside key threshold lines. Additionally, it displays a status table in the top-right corner with the score and performance tier label.
Relative strength calculation vs benchmark index
Color-coded performance tier threshold lines
Summary status table displaying score and tier rank
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Lookback (trading days)
int
63
lookback
Benchmark
symbol
FTSEMYX:FBMKLCI
benchmark
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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