The relative strength meter (RSM) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The RSM is displayed as an color coded meter.
GREEN: Bullish Uptrend
RED: Bearish Downtrend
- Add to any chart or time frame
- Prints on the current bar in real time
- DOES NOT repaint several bars after the fact
- Freedom to Tune
- User can change colors