Find where market leadership is clustering before drilling into names.
Market leadership and rotation board
Relative Strength Heatmap
A ranked heatmap that compares sectors and themes against a benchmark across rolling 21, 63, and 126 trading-day windows.
SMH+8.4+13.2+24.1
XLK+5.1+9.7+18.4
IBIT+3.8+7.2+15.0
XLF-0.9+2.1+5.8
KRE-3.4-6.2-9.1
PriceFree and open source
PlatformTradingView Pine Script
Best forSwing traders and market scanners looking for leadership clusters.
MarketsSPDR sectors, SMH, KRE
Problem
What it solves
The Relative Strength Heatmap is a top-down market rotation view. It ranks important sectors and themes by rolling performance versus a benchmark so leadership and weakness are easier to see at a glance.
The point is not to outsource your decision. It is to make structure, leadership, and location easier to see so your own trade plan has cleaner context.
Visual read
How to read the screen
Confirm whether a theme is outperforming or simply moving with the index.
Pair with scans to prioritize the strongest areas of the market.
Core Features
What the script includes
Ranks 18 sectors and themes by composite relative strength.
Uses rolling trading-day windows instead of fixed calendar months.
Compares each symbol against a configurable benchmark.
Highlights leadership, laggards, and neutral zones in a compact table.
Setup
Add it without overcomplicating the chart
- 1
Add the heatmap to a TradingView chart.
- 2
Set the benchmark you care about, such as SPX, QQQ, or IWM.
- 3
Review the top and bottom ranked groups before building a watchlist.
- 4
Use the heatmap as a top-down filter, not as an entry trigger.
Limits
Important notes
Daily data is the intended context for cleaner relative strength reads.
Neutral zones help filter small differences that may not matter.
The heatmap is visual analysis only and does not forecast future performance.