OPEN-SOURCE SCRIPT
Dollar Weighted Cumulative SPY Sectors Volume
Diupdate
This plots the combined volume of the subsectors of the SPY using (open+close)/2, both per bar (narrow candles) and cumulative (wide faded candles).
This aims to use dollar volume and weights each sector individually in dollar amounts. NOT with the weighting used in the SPY index. This indicator is NOT equally weighted., it is weighted according to each subsector's own dollar volume.
Green lines means there is more money flowing into the subsectors combined than out. This is a breadth indicator.
Green and red crosses indicate divergence.
Green crosses are shown when the SPY is outperforming this indicator.
Red crosses are shown when this indicator is outperforming the SPY.
Perhaps the best use of this indicator is to stop you from being aggressive when the whole market isn't moving with you.
Enjoy! Feel free to ask any questions.
This aims to use dollar volume and weights each sector individually in dollar amounts. NOT with the weighting used in the SPY index. This indicator is NOT equally weighted., it is weighted according to each subsector's own dollar volume.
Green lines means there is more money flowing into the subsectors combined than out. This is a breadth indicator.
Green and red crosses indicate divergence.
Green crosses are shown when the SPY is outperforming this indicator.
Red crosses are shown when this indicator is outperforming the SPY.
Perhaps the best use of this indicator is to stop you from being aggressive when the whole market isn't moving with you.
Enjoy! Feel free to ask any questions.
Catatan Rilis
Modified the workings of the script to better display momentum. If the script is going sideways, the SPY probably is too! I think this is much more useful for staying out of trades during chop.
Catatan Rilis
Updating the colouring and added some customization. The colouring is expected to work with a black background to better indicate acceleration/deceleration. 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
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