Market Breadth - Primary Indicator

Market Breath is the equilibrium between number of stocks in advance to those in a decline, in other words a method to determine the current market environment. In a positive phase bullish setups will have improved probabilities and presence, whereas in a bearish phase the opposite would be true.

The primary indicator measure the trend in SPY and correlation between different EMA's.
- Green Columns: Positive Breadth
- Red Columns: Negative Breadth

This indicator can be combined with the secondary breadth indicator to further note excessive movement and risk of mean reversion.

Release Notes

You can now customize which symbol / market the indicator will be based on.

Release Notes

This version is now based on NASDAQ:CRSPTM1, which tracks the US Total Market Index. This expands coverage to a broader spectrum of U.S. equities.

Release Notes

Updated chart and color scheme.

Protected script

This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.

StockLeave

Technical Trading: Research and Application
stockleave.com/

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Protected script

This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.

StockLeave

Technical Trading: Research and Application
stockleave.com/

Also on: