OPEN-SOURCE SCRIPT
[KY]Stocks above MA Percentage
(1) What is Percentage of Stocks above Moving Average?
Percentage of Stocks above Moving Average is a breadth indicator and could
be used for both trend-followers and contrarians.
a) Trend-Follow
If 50%-70% of Stocks are above their 200MA, bullish momentum is forming and
rally could last for next several weeks, months. (Confirmation)
b) Contrarian
If only 0-5% of Stocks are above their 200MA, the market should have been horrible
but it's a good opportunity to start building equities long position.
And if you short, you want to consider about dead cat bounce next.
(2) How to use this indicator?
- Add this indicator to your chart.
- Select the market type from options (S&P500, Dow Jones Industrials, Rullsel 2000 etc)
For sector analysis, you can select from S&P500 sectors.
- Select the Days of MA length from options ("200", "150", "100", "50", "20")
Percentage of Stocks above Moving Average is a breadth indicator and could
be used for both trend-followers and contrarians.
a) Trend-Follow
If 50%-70% of Stocks are above their 200MA, bullish momentum is forming and
rally could last for next several weeks, months. (Confirmation)
b) Contrarian
If only 0-5% of Stocks are above their 200MA, the market should have been horrible
but it's a good opportunity to start building equities long position.
And if you short, you want to consider about dead cat bounce next.
(2) How to use this indicator?
- Add this indicator to your chart.
- Select the market type from options (S&P500, Dow Jones Industrials, Rullsel 2000 etc)
For sector analysis, you can select from S&P500 sectors.
- Select the Days of MA length from options ("200", "150", "100", "50", "20")
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.