# Relative Performance Areas Relative Performance Areas is an indicator on [Vela](https://vela.luxalgo.com/chart), our next-generation charting platform, written in Pine Script®. Shades every session green or red depending on whether the charted asset beat or lagged a chosen benchmark, with SPX as the default comparison. Three display modes (net, rescaled, and standardized returns) set how the benchmark is transformed before comparison, while a dashboard tallies outperformance streaks. Relative strength made visible session by session. - Indicator in the LuxAlgo Library, by LuxAlgo, published Nov 19, 2025. - Access: free. - Concepts: [Relative Strength Comparative](https://www.luxalgo.com/library/concept/relative-strength-comparative/) (primary) - Open on Vela: https://vela.luxalgo.com/chart?pineScriptCodeId=cmpwn56ex007avhsgi5975xyx - Page: https://www.luxalgo.com/library/indicator/relative-performance-areas/ **Relative Performance Areas** shades every session by whether the charted asset beat or trailed a chosen benchmark, turning [relative performance](https://www.luxalgo.com/library/concept/relative-strength-comparative/) into something read straight off the price panel. Sessions where the asset outperforms are backed in green, underperformance shows red, and the benchmark itself is plotted as a rescaled line, SPX by default, switchable to any symbol. ## How to Trade the Relative Performance Areas? - **Green session area**: the asset outperformed the benchmark across that session. - **Red session area**: the benchmark won the session. - **Benchmark line color**: green or red depending on whether the benchmark sits above or below the asset, with an extra shaded area whenever the benchmark path travels beyond the session's high or low. - **Streak behavior**: strings of same-colored sessions flag persistent leadership or lag; the dashboard quantifies them so momentum and mean-reversion tendencies stand out. Three display modes control how benchmark returns are transformed before comparison. Net Returns uses raw session returns; Rescaled Returns adjusts them by the ratio of asset-to-benchmark volatility; Standardized Returns converts them to a z-score before rescaling by the asset's volatility, the most robust choice when the two instruments behave very differently. ## Relative Performance Areas Settings - **Benchmark**: the comparison ticker (SPX by default). - **Display Mode**: Net Returns, Rescaled Returns, or Standardized Returns. - **Dashboard**, **Position**, **Size**: toggle the statistics panel and control its placement and scale. - **Style**: show or hide the overperforming areas, underperforming areas, and benchmark line, with color choices for each. ## Frequently Asked Questions ### What does the dashboard actually count? The share of overperforming and underperforming sessions, the number of winning and losing streaks (defined as two or more consecutive sessions) plus median and mode streak durations and the share of streaks lasting at least 3, 4, 5, and 6 sessions. Together they profile how persistent relative strength has been. ### Which display mode should I start with? Net Returns is the simplest and most direct. Move to Rescaled or Standardized Returns when asset and benchmark differ meaningfully in volatility (crypto against an equity index, say), so sessions aren't colored by volatility alone. ### How do I get access, and can I compare many symbols at once? Relative Performance Areas is free on the LuxAlgo Library. It compares one asset to one benchmark per chart; for a whole basket against a single benchmark, the [Relative Strength Scatter Plot](https://www.luxalgo.com/library/indicator/relative-strength-scatter-plot/) plots every symbol on one quadrant graph. You can also copy the source code from this page and run it anywhere Pine Script® runs. ## Related indicators - [Relative Strength Scatter Plot](https://www.luxalgo.com/library/indicator/relative-strength-scatter-plot/) (Relative Strength Comparative): markdown at https://www.luxalgo.com/library/indicator/relative-strength-scatter-plot.md - [Relative Crypto Dominance Polar Chart](https://www.luxalgo.com/library/indicator/relative-crypto-dominance-polar-chart/) (Relative Strength Comparative): markdown at https://www.luxalgo.com/library/indicator/relative-crypto-dominance-polar-chart.md - [Stablecoin Dominance](https://www.luxalgo.com/library/indicator/stablecoin-dominance/) (Ratio Charts): markdown at https://www.luxalgo.com/library/indicator/stablecoin-dominance.md - [Currency Strength](https://www.luxalgo.com/library/indicator/currency-strength/) (Currency Strength Meter): markdown at https://www.luxalgo.com/library/indicator/currency-strength.md - [Volume Bubbles & Liquidity Heatmap](https://www.luxalgo.com/library/indicator/volume-bubbles-liquidity-heatmap/) (Breadth, Sentiment & External Data): markdown at https://www.luxalgo.com/library/indicator/volume-bubbles-liquidity-heatmap.md - [Crypto Liquidation Heatmap](https://www.luxalgo.com/library/indicator/crypto-liquidation-heatmap/) (Breadth, Sentiment & External Data): markdown at https://www.luxalgo.com/library/indicator/crypto-liquidation-heatmap.md - [Liquidation Levels](https://www.luxalgo.com/library/indicator/liquidation-levels/) (Breadth, Sentiment & External Data): markdown at https://www.luxalgo.com/library/indicator/liquidation-levels.md - [Market Breadth Toolkit](https://www.luxalgo.com/library/indicator/market-breadth-toolkit/) (Breadth, Sentiment & External Data): markdown at https://www.luxalgo.com/library/indicator/market-breadth-toolkit.md --- Source: https://www.luxalgo.com/library/indicator/relative-performance-areas/ (LuxAlgo Library). Free to use with attribution: https://www.luxalgo.com/library/license/