Matt Caruso CARS
you can choose the banchmark index in t settings. for more information about this indicator.
https://www.carusoinsights.com/caruso-adaptive-relative-strength/
HI,
im actually working on a script that emulates matt caruso cars.
I created this script that actually does a really good work, but need upgrades
I will leave the code below if someone is interested in helping me.
thanks.
declare lower;
INPUT Betalength = 40;
input Index = "SPY";
DEF avgfast = 50;
DEF avgfast1 = 10;
DEF avgslow = 100;
DEF avgslow1 = 10;
DEF avgs40 =40;
def logic = close(Index);
#RETORNOS DEL ACTIVO Y DEL ACTIVO Y COMPARABLE
def ret1 = (close - close[1]) / close[1];
def ret2 = (logic - logic[1]) / logic[1];
#BETA
def Beta = Covariance(ret1, ret2, Betalength) / Sqr(StDev(ret2, Betalength));
#ALPHA
plot alpha = ret1 - (ret2 * Beta);
alpha.AssignValueColor(if alpha >= 0 then Color.UPTICK else Color.DOWNTICK);
alpha.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
alpha.SetLineWeight(3);
#LABELS
AddLabel(yes, "Beta : " + Round(Beta, 3), Color.LIGHT_GRAY);
AddLabel(yes, "IndexChange% : " + Round(ret2, 3), Color.LIGHT_GRAY);
AddLabel(yes, "Change% : " + Round(ret1, 3), Color.LIGHT_GRAY);
#Media movil rapida + otra que la suavice
def avg1 = expaverage(alpha, avgfast);
DEF avg11 = expaverage(avg1, avgfast1);
#Media movil lenta + otra que la suavice
DEF avg2 = average(alpha, avgslow);
DEF avg22 = expaverage(avg2, avgslow1);
#SM50
DEF SM50 = WMA(alpha, avgs40);
#conditions
#def conditions1 = if ( (avg11 < avg22) and (avg11 > 0 and avg22 > 0)and (ratio>1) ) then 1 else Double.NaN;
def conditions2 = if ( (avg11 > 0 and avg22 > 0) and (SM50 > 0)) then 1 else Double.NaN;
#plot
#plot histograma1 = conditions1;
#histograma1.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
#histograma1.AssignValueColor (Color.GRAY);
#histograma1.SetLineWeight(3);
plot histograma2 = conditions2;
histograma2.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
histograma2.AssignValueColor (Color.YELLOW);
histograma2.SetLineWeight(3);
DEF line = 0;
plot zeroline = line;