Overview This Pine Script™ code generates a "Market Sentiment Dashboard" on TradingView, providing a visual summary of market sentiment across multiple timeframes. This tool aids traders in making informed decisions by displaying real-time sentiment analysis based on Exponential Moving Averages (EMA).
Key Features Panel Positioning: Custom Placement: Traders can position the dashboard at the top, middle, or bottom of the chart and align it to the left, centre, or right, ensuring optimal integration with other chart elements.
Customizable Colours: Sentiment Colours: Users can define colours for bullish, bearish, and neutral market conditions, enhancing the dashboard's readability. Text Colour: Customizable text colour ensures clarity against various background colours.
Label Size: Scalable Labels: Adjustable label sizes (from very small to very large) ensure readability across different screen sizes and resolutions.
Market Sentiment Calculation: EMA-Based Sentiment: The dashboard calculates sentiment using a 9-period EMA. If the EMA is higher than two bars ago, the sentiment is bullish; if lower, it's bearish; otherwise, it's neutral. Multiple Timeframes: Sentiment is calculated for several timeframes: 30 minute, 1 hour, 4 hour, 6 hour, 8 hour, 12 hour, 1 day, and 1 week. This broad analysis provides a comprehensive view of market conditions.
Dynamic Table: Structured Display: The dashboard uses a table to organize and display sentiment data clearly. Real-Time Updates: The table updates in real-time, providing traders with up-to-date market information.
How It Works EMA Calculation: The script requests EMA(9) values for each specified timeframe and compares the current EMA with the EMA from two bars ago to determine market sentiment. Colour Coding: Depending on the sentiment (Bullish, Bearish, or Neutral), the corresponding cell in the table is color-coded using predefined colours. Table Display: The table displays the timeframe and corresponding sentiment, allowing traders to quickly assess market trends. Benefits to Traders Quick Assessment: Traders can quickly evaluate market sentiment across multiple timeframes without switching charts or manually calculating indicators. Enhanced Visualization: The color-coded sentiment display makes it easy to identify trends at a glance. Multi-Timeframe Analysis: Provides a broad view of short-term and long-term market trends, helping traders confirm trends and avoid false signals.
This dashboard enhances the overall trading experience by providing a comprehensive, customizable, and easy-to-read summary of market sentiment.
Usage Instructions Add the Script to Your Chart: Apply the "Market Sentiment Dashboard" indicator to your TradingView chart. Customize Settings: Adjust the panel position, colours, and label sizes to fit your preferences. Interpret Sentiment: Use the color-coded table to quickly understand the market sentiment across different timeframes and make informed trading decisions.
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
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