CARS (Caruso RS)

WHAT IT DOES––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
💡A significant advancement in relative strength analysis is Caruso Adaptive Relative Strength (CARS).

The CARS tool makes it quick and easy to determine whether an asset exhibits Relative Strength and is therefore subject to institutional accumulation.

CARS is not restricted to equities and may be used to find RS on any traded security like crypto, forex, bonds or ETFs. By design, CARS adjusts to a security's volatility to discover RS in a slower-moving, dividend-paying investment just as easily as in a one with strong velocity. Due to this feature, investors are able to use RS analysis on any security type that fits their objectives and risk tolerance.

When the indicator calculates a favourable, strong relative strength in the ticker it paints the background of the chart to the chosen color.

🎁 Unlike the original indicator, I have left a few customisable settings for those who wish to toggle the sensistivity:
✅. You can choose which index you compare Relative Strength against (perfect for anyone trading international)
✅. You can choose how manyDays Lookback the ticker uses to make calculations
✅. You can chooses what Timeperiod in number of bars the ticker uses to calculate Relative Strength
✅. I have made all calculations adaptable for larger and smaller timeframes (so wether you are daytrader or investor this will adapt to the way you have customised your chart).

HOW TO USE IT–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
The tool highlights the periods of time when the ticker has the highest probability of attracting institutional investors and hence result in price appreciation. The blue color appears in stages of the indicator where significant upward moves are probable.

You can use the indicator as part of the longer term trend analysis of your research.

For Tradingview:

After you have purchased the indicator have to send us your TradingView username in order to get access.

 

ThinkorSwim (available, but separate):

Please send us an email and if you would like a ThinkorSwim version of this script. ThinkorSwim version is sold separetly from the TradingView version of the script and takes 5 days of delivery.

 

Link to TradingView script

After payment is made, access to the script will be given within 2 hours

If you are looking for Promo videos, where you can compare the original indicators to what we have creted there are plenty of public information in Youtube. If you have trouble finding them shoot us a message.

Also check out this free Investor's Business Daily video: here

Here are 4 examples of comparison of the original and my twist of the indicator