Ibotrade Relative Strength Leadership Engine

Ibotrade Relative Strength Leadership Engine (IRSI)

The Ibotrade Relative Strength Leadership Engine (IRSI) is a benchmark-relative leadership classification indicator designed to evaluate whether a symbol is behaving like a market leader versus a chosen benchmark (default: SPY).

IRSI measures leadership using multiple objective components, including:

Relative strength versus a dynamic baseline

Momentum confirmation via volatility-adjusted RS slope

Proximity to recent relative-strength highs

Optional weekly and monthly confirmation for higher-timeframe context

These components are combined into a transparent 0–100 leadership score, which is then mapped into a clear, deterministic permission state:

FULL – leadership conditions are strong and intact

CAUTION – leadership exists but is aging or momentum is cooling

BLOCKED – leadership has degraded or broken

IRSI is indicator-only, evaluated on confirmed bar close, and is intended as a decision-support tool, not a trading signal or execution system. Optional alerts are included for leadership state changes and relative-strength new-high events.

This script does not place trades, does not predict future price movement, and is designed to help traders prioritize stronger relative performers while standing down during leadership deterioration.