Relative Strength Line

TradingView: (unpublished)

Designed for momentum equities (Tesla, Cloudflare, Microsoft, Apple, …) where relative strength vs. the index is the primary stock-selection filter.

The key idea: confluence, not raw RS

Relative strength alone is decoupled from price — a stock can be relatively strong (falling less than the market) while its own chart falls. A signal on raw RS would then say “long” while price drops, which is useless. So a signal here fires only when both agree:

• LONG — the stock outperforms the benchmark (Mansfield > 0) and is in its own uptrend (price above its trend EMA)
• SHORT — it underperforms and is in its own downtrend

That makes a green mark a genuine leader that is also rising, and structurally rules out the “green while price falls” contradiction.

Features

• Two display modes (one pane, no scale conflict):
  • Mansfield RS (default) — normalized oscillator around zero: the % distance of the RS line from its own moving average. Above 0 = outperforming the benchmark, below 0 = lagging.
  • Raw RS Line — the price ÷ benchmark ratio itself, with its moving average.
• Confluence markers — green up-triangle below the line on a long setup, red down-triangle above on a short (standard trading convention). Fires on entry into the regime, throttled by a minimum bar gap.
• Dashboard — relative strength (leads/lags + Mansfield %), absolute price trend, and the Setup verdict (LONG / SHORT / Neutral)
• Right-edge tag with the live setup
• Alerts — long/short confluence, Mansfield zero-cross up/down

How to read it

• Setup = LONG → the stock beats the market and is trending up — a momentum-leader long candidate.
• Mansfield > 0 but Price Trend = Down → relatively strong but absolutely falling → no signal (this is the case that used to mislead). It tells you the stock is holding up better than the index, but it is not a long.
• Mansfield crossing below 0 → the stock has started lagging the benchmark; rotate attention elsewhere even if price still rises.

Benchmark choice

• AMEX:SPY (default) — broad market, S&P 500. The IBD standard.
• NASDAQ:QQQ — Nasdaq 100; usually the better reference for tech/momentum names.
• Any symbol works (e.g. a sector ETF) via the symbol picker.

Settings

Group	Input	Default	Purpose
Relative Strength	Benchmark	AMEX:SPY	Symbol to measure against
Relative Strength	Display	Mansfield RS	Oscillator vs. raw ratio
Relative Strength	Mansfield MA Length	50	MA the RS distance is measured from
Confluence Signal	Price Trend EMA	50	EMA of the stock’s price defining its absolute trend (the long/short filter)
Confluence Signal	Min Bars Between Markers	5	De-clutter repeated markers
Confluence Signal	Marker Distance from Line	0.4	Vertical gap of the marker from the line (× stdev)

Notes

• The RS line uses request.security with lookahead_off — no repainting beyond the standard same-timeframe behavior.
• On a symbol where the benchmark has no data for the timeframe, RS is na and the dashboard shows “—”.