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RS Alpha by The Noiseless Trader

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RS Alpha by The Noiseless Trader plots a clean, benchmark‑relative strength line for any symbol and (optionally) a mean line to assess trend and momentum in relative performance. It’s designed for uncluttered, professional RS analysis and works across any timeframe.
  • Compare any symbol vs a benchmark (default: NSE:NIFTY).
  • Optional log‑normalized RS for return‑aware comparisons.
  • Optional RS Mean with trend coloring (rising/falling).
  • Optional RS Trend zero‑line coloring based on short‑range slope.
  • Lightweight alerts for rising/falling RS mean.

Tip: Use RS to identify leaders (RS > 0 with rising mean) and laggards (RS < 0 with falling mean), then align setups with your price action rules.

Reading the indicator
  • Leadership: RS > 0 and RS Mean rising → outperformance vs benchmark.
  • Weakness: RS < 0 and RS Mean falling → underperformance vs benchmark.
  • Inflections: Watch RS crossing above/below its Mean for early shifts.
  • Zero‑line context: With RS Trend on, the zero line subtly reflects short‑term slope (green for positive, maroon for negative).

Alerts
  • Rising Strength – RS Mean turning/remaining upward.
  • Declining Strength – RS Mean turning/remaining downward.

(Use these as context; execute entries on your price‑action rules.)

Best practices
  • Pair RS with your trend/structure rules (e.g., higher highs + RS leadership).
  • For sectors/baskets, keep the Comparative Symbol consistent to rank peers.
  • Log‑normalized RS helps when comparing assets with very different volatilities or large base effects.
  • Test multiple length and Mean settings; 60 is a balanced default for swing/positional work.

Credits
Original concept & code: © bharatTrader
Modifications & refinements: The Noiseless Trader

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