OPEN-SOURCE SCRIPT
MM Market Range Map
Diupdate
What this script does:
The purpose of this script is to help traders identify when the major sectors of the market are moving in one direction - also known as a "market trend day".
How this script works:
The indicator uses QQQ, SMH and NVDA to represent the technology side of the market, and XLF, XLV & IWM to represent everything else. It tracks where price is within the day's range for each of those symbols, and presents that data in a table and in also in a dot-based "map".
How to use this script:
Using the dot-based map, you can see if all symbols were ever at the highs or lows of their range together. You can use this information to decide which direction you should be trading (ie. with trend). For example, in order for there to be healthy bullish moves in the market, you would want this indicator to show you that all sectors are at the highs or trending in that direction.
What makes this script original:
Most indicators and even the TradingView watchlist measure the percent changed on the day from the closing price of a stock on the prior trading day, essentially telling you what sentiment is since yesterday. This script tells you the sentiment today since it is priced from the opening print. It also provides the map so you can see if they were ever at the highs or lows together throughout the day, which can be an early indicator that the market will trend.
The purpose of this script is to help traders identify when the major sectors of the market are moving in one direction - also known as a "market trend day".
How this script works:
The indicator uses QQQ, SMH and NVDA to represent the technology side of the market, and XLF, XLV & IWM to represent everything else. It tracks where price is within the day's range for each of those symbols, and presents that data in a table and in also in a dot-based "map".
How to use this script:
Using the dot-based map, you can see if all symbols were ever at the highs or lows of their range together. You can use this information to decide which direction you should be trading (ie. with trend). For example, in order for there to be healthy bullish moves in the market, you would want this indicator to show you that all sectors are at the highs or trending in that direction.
What makes this script original:
Most indicators and even the TradingView watchlist measure the percent changed on the day from the closing price of a stock on the prior trading day, essentially telling you what sentiment is since yesterday. This script tells you the sentiment today since it is priced from the opening print. It also provides the map so you can see if they were ever at the highs or lows together throughout the day, which can be an early indicator that the market will trend.
Catatan Rilis
Updates:- Switched NVDA with AAPL to get a better sense of tech overall (SMH should account for NVDA)
- Added sentiment thresholds & lines for those levels (optionally)
- Added alerts for (a) all sectors at lows, (b) all sectors at highs, and (c) healthy sector rotation
- Added strong buy or sell signal messages
Catatan Rilis
Added alerts for just QQQ, XLF, XLV at highs/lows. Updating chart.Catatan Rilis
Fixed a bug where the values didn't display on non-equities charts.Catatan Rilis
Changed the indicator to allow users to customize or disable the symbols. Had to change the alerts also to account for this change. Now it will only alert when all enabled symbols are at highs or lows.Skrip open-source
Dengan semangat TradingView yang sesungguhnya, penulis skrip ini telah menerbitkannya sebagai sumber terbuka, sehingga para trader dapat memahami dan memverifikasinya. Hormat untuk penulisnya! Anda dapat menggunakannya secara gratis, namun penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk digunakan pada chart
Inggin menggunakan skrip ini pada chart?
I release TradingView indicators and libraries designed to make you a better trader. For detailed info about them, head over to improve.trading
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.