Minervini Relative Price Performance (RPR)
The Minervini Relative Price Performance (RPR) is a comprehensive trading indicator designed to assess the relative strength of a given asset compared to the S&P 500 index. It features an RS Line and an Exponential Moving Average (EMA) of the RS Line. The indicator also identifies new highs and lows in the RS Line, incorporates a Relative Strength (RS) Rating, and provides crossover/crossunder signals.
📜 ––––HISTORY & CREDITS––––
The Minervini Relative Price Performance (RPR) indicator is inspired by the teaching of Mark Minervin and the way he explains the principles of market outperformance and trend-following. Built on the TradingView platform, the script utilizes P a multi-faceted tool for assessing the relative strength of a financial asset against the S&P 500 index (or other index). The indicator serves as a comprehensive tool for traders and market analysts, providing insights into asset performance relative to market benchmarks.
🎯 ––––WHAT IT DOES––––
- RS Line: Measures the asset's performance relative to the S&P 500 index, allowing traders to gauge relative strength.
- RS Line EMA: Smoothens the RS Line using an Exponential Moving Average (EMA), providing a less volatile curve for better trend identification.
- New Highs and Lows: Identifies and marks new highs and lows in the RS Line over a specified lookback period.
- RS Rating: Generates a proprietary score, offering a percentile ranking of the asset's performance compared to the broader market.
- Crossover and Crossunder Signals: Alerts traders when the RS Line crosses above or below its EMA, signaling potential entry or exit points.
🛠️ ––––HOW TO USE IT––––
Customizable Inputs: Prior to deploying the indicator, traders can adjust the following:
- S&P 500 Symbol (Default: 'SPX')
- Lookback Period for new highs and lows (Default: 250)
- Line Width of the RS Line (Default: 3)
- EMA Length for RS Line (Default: 20)
Long Entry Strategy:
- Consider entering a long position when the RS Line crosses above its EMA.
- It's advisable to take positions where the RS Rating is above 70 for better outperformance prospects.
Short Entry Strategy:
- Consider entering a short position when the RS Line crosses below its EMA.
- Opt for assets where the RS Rating is below 30 for shorting opportunities.
- For long positions, consider exiting when the RS Line makes a new low or crosses below its EMA.
- For short positions, consider exiting when the RS Line makes a new high or crosses above its EMA.
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.
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.