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Pristine Market Analysis Dashboard
The Pristine Market Analysis indicator enables users to perform comprehensive top-down analysis of global risk assets in a fraction of the time! 🏆
Top-down analysis is important because the overall market environment has a significant impact on the success of individual trading setups.
💠 Market Analysis Insights
▪ Identify if money is flowing into equities, or equity alternatives like bonds,gold,and bitcoin
▪ Perform relative strength analysis of US vs International equities
▪ Identify rotation into risk-on or risk-off assets to determine overall market health
▪ Detect leading sectors to enable targeted stock screening, or to trade the ETFs themselves
💠 Market Analysis Metrics to Improve Your Situational Awareness!
▪ %Δ - 1-day percent change
▪ ATR Δ - 1-day percent change/ ATR %
▪ DCR - Daily closing range
▪ 52WR - Measures where a security is trading in relation to it’s 52wk high and 52wk low
▪ MAx - Measures how extended price is from a key moving average of your choosing in ATR% multiple terms
▪ ST ↑↓ (Short- Term Stage) - Measures the short-term trend using key moving averages of your choosing
▪ LT ↑↓ (Long-Term Stage) - Measures the long-term trend using key moving averages of your choosing
The indicator automatically sorts from greatest to least based on the %Δ column 👇
What is ATR?
The average true range (ATR) is a technical analysis indicator introduced by market technician J. Welles Wilder Jr. in his book New Concepts in Technical Trading Systems that measures security volatility by decomposing the entire range of an asset price for a time period.
Why do we use it?
Because converting price moves into ATR terms better contextualizes them relative to the asset's historical volatility!
Example: If the ATR is $2.50, it means the average price range each day is roughly $2.50.
We use an ATR length of 20 days in our calculation, and convert the 20D ATR into a 20D ATR %. The formula for ATR % is as follows:
ATR % = (ATR/Current Price) * 100
Why does MAx matter?
MAx measures the number of ATR % multiples a security is trading away from a key moving average.The default moving average length is 50 days.
MAx can be used to identify mean reversion trades. When a security trends strongly in one direction and moves significantly above or below its moving average, the price often tends to revert back toward the average.
Example, if the ATR % of the security is 5%, and the stock is trading 50% higher than the 50D SMA, the MAx would be 50%/5% = 10. A user might opt to take a countertrend trade when the MAx exceeds a predetermined level.
The MAx can also be useful when trading breakouts above or below the key moving average of your choosing. The lower the MAx, the tighter stop loss one can take if trading against that level.
Identifying an extreme price extension using MAx 👇
Price mean reverted immediately following the high MAx 👇
Why does 52WR matter?
Historical analysis conducted by market legends like William O’Neill and Mark Minervini indicates that stocks trading at or near 52wk highs tend to outperform over time, and vice versa for stocks trading close to 52wk lows. Avoiding stocks trading with a low 52WR metric can help traders avoid buying stocks in downtrends. Likewise, focusing on stocks trading with a high 52WR provides a technical edge.
💠 Stage Analysis Guide
Short-term and long-term stage analysis data is provided in the two rightmost columns of each table. The columns are labeled ST ⇅ and LT ⇅.
Why is Stage Analysis important? Popularized by Stan Weinstein, stage analysis is a trend following system that classifies assets into four stages based on price-trend analysis.
The problem? The interpretation of stage analysis is highly subjective. Based on the methodology provided in Stan Weinstein’s books, five different traders could look at the same chart, and come to different conclusions as to which stage the security is in!
We solved for this by creating our own methodology for classifying stocks into stages using moving averages. This indicator automates that analysis, and produces short-term and long-term trend signals based on user-defined key moving averages. You won’t find this in any textbook or course, because it’s completely unique to the Pristine trading methodology.
Our indicator calculates a short-term trend signal using two moving averages; a fast moving average, and a slow moving average. We default to the 10D EMA as the fast moving average & the 20D SMA as the slow moving average. A trend signal is generated based on where price is currently trading with respect to the fast moving average and the slow moving average. We use the signal to guide shorter-term swing trades.
In general, we want to take long trades in stocks with strengthening trends, and short trades in stocks with weakening trends. The user is free to change the moving averages based on their own short-term timeframe. Every trader is unique!
The same process is applied to calculate the long-term trend signal. We default to the 50D SMA as our fast moving average, and the 200D SMA as the slow moving average for the LT ⇅ signal calculation, but users can change these to fit their own unique trading style.
What is Stage 1?
Stage 1 identifies stocks that transitioned from downtrends, into bottoming bases.
Stage 1A - Bottom Signal: Marks the first day a security shows initial signs of recovery after a downtrend, with early indications of strength emerging.👇
Stage 1B - Bottoming Process: Identifies the ongoing phase where the security continues to stabilize and strengthen, confirming the base-building process after the initial signal.👇
Stage 1R - Failed Uptrend: Detects when a security that had entered an early uptrend loses momentum and slips back into a bottoming phase, signaling a failed breakout.👇
What is Stage 2?
Stage 2 identifies stocks that transitioned from bottoming bases to uptrends.
Stage 2A - Breakout: Marks the first day a security decisively breaks out, signaling the start of a new uptrend.👇
Stage 2B - Uptrend: Identifies when the security continues to trade in an established uptrend following the initial breakout, with momentum building but not yet showing full strength.👇
Stage 2C - Strong Uptrend: Detects when the uptrend strengthens further, with the security displaying clear signs of accelerating strength and buying pressure.👇
Stage 2R - Failed Breakdown: Detects when a security that had recently entered a corrective phase reverses course and reclaims its upward trajectory, moving back into an uptrend.👇
What is Stage 3?
Stage 3 identifies stocks that transitioned from uptrends to topping bases.
Stage 3A - Top Signal: Marks the first day a security shows initial signs of weakness after an uptrend, indicating the start of a potential topping phase.👇
Stage 3B - Topping Process: Identifies the period following the initial signal when the security continues to show signs of distribution and potential trend exhaustion.👇
Stage 3R - Failed Breakdown: Detects when a security that had entered a deeper corrective phase reverses upward, recovering enough strength to re-enter the topping phase.👇
What is Stage 4?
Stage 4 identifies stocks that transitioned from topping bases to downtrends.
Stage 4A - Breakdown: Marks the first day a security decisively breaks below key support levels, signaling the start of a new downward trend.👇
Stage 4B - Downtrend: Identifies when the security continues to trend lower following the initial breakdown, with sustained bearish momentum, though not yet fully entrenched.👇
Stage 4C - Strong Downtrend: Detects when the downtrend intensifies, with the security displaying clear signs of accelerating weakness and selling pressure.👇
Stage 4R - Failed Bottom: Detects when a security that had begun to show early signs of bottoming reverses course and resumes its decline, falling back into a downtrend.👇
Stage N/A - Recent IPO: Applies to stocks that recently IPO’ed and don’t have enough data to calculate all necessary moving averages.
💠 Historical Analysis
Users can leverage the Replay feature in TradingView to perform historical analysis and see how the overall configuration of global risk assets looked at key turning points in the market!
To perform historical analysis:
1) Show the chart if previously hidden (see Tips and Tricks).
2) Click the Replay button on the toolbar at the top of the chart.
3) Use the slider on the chart to select the bar to begin the analysis.
💠 Comprehensive Tooltips
Hover over header labels to get detailed information about the data and relevant calculations.
For stage analysis (Short Term and Long Term), the tooltips provide a complete key of all the relevant stages.
💠 Settings and Preferences
▪ Customize this script by setting preferred colors and thresholds.
▪ There are two tables that can be customized, one on each side of the chart. For each table you can configure the location and show/hide each table. You can also specify colors for header and row data, including your preferred text size.
▪ You can customize the moving averages that are used in stage analysis. Specify your preferred fast and slow moving averages for both short-term and long-term analysis.
▪ For the ATR extension, the default moving average is 50D SMA. You can choose the length and type (SMA or EMA) to align with your trading preferences.
💠 Tips and Tricks
▪ Hide/Show Chart:
To provide a clean backdrop for the tables, it can be helpful to hide the chart. Hover your mouse over the symbol information in the upper right. Select the "..." option and choose "Hide" option. Choose the option "Show" to see the chart details if hidden.
▪ Futures Outside Regular Trading Hours (RTH):
In order for the data in the “%Δ” column of the the “Equity Alternatives” table to populate correctly when outside of regular trading hours, you must have your chart displaying a futures contract. Examples: ES, NQ, RTY, GC.
Top-down analysis is important because the overall market environment has a significant impact on the success of individual trading setups.
💠 Market Analysis Insights
▪ Identify if money is flowing into equities, or equity alternatives like bonds,gold,and bitcoin
▪ Perform relative strength analysis of US vs International equities
▪ Identify rotation into risk-on or risk-off assets to determine overall market health
▪ Detect leading sectors to enable targeted stock screening, or to trade the ETFs themselves
💠 Market Analysis Metrics to Improve Your Situational Awareness!
▪ %Δ - 1-day percent change
▪ ATR Δ - 1-day percent change/ ATR %
▪ DCR - Daily closing range
▪ 52WR - Measures where a security is trading in relation to it’s 52wk high and 52wk low
▪ MAx - Measures how extended price is from a key moving average of your choosing in ATR% multiple terms
▪ ST ↑↓ (Short- Term Stage) - Measures the short-term trend using key moving averages of your choosing
▪ LT ↑↓ (Long-Term Stage) - Measures the long-term trend using key moving averages of your choosing
The indicator automatically sorts from greatest to least based on the %Δ column 👇
What is ATR?
The average true range (ATR) is a technical analysis indicator introduced by market technician J. Welles Wilder Jr. in his book New Concepts in Technical Trading Systems that measures security volatility by decomposing the entire range of an asset price for a time period.
Why do we use it?
Because converting price moves into ATR terms better contextualizes them relative to the asset's historical volatility!
Example: If the ATR is $2.50, it means the average price range each day is roughly $2.50.
We use an ATR length of 20 days in our calculation, and convert the 20D ATR into a 20D ATR %. The formula for ATR % is as follows:
ATR % = (ATR/Current Price) * 100
Why does MAx matter?
MAx measures the number of ATR % multiples a security is trading away from a key moving average.The default moving average length is 50 days.
MAx can be used to identify mean reversion trades. When a security trends strongly in one direction and moves significantly above or below its moving average, the price often tends to revert back toward the average.
Example, if the ATR % of the security is 5%, and the stock is trading 50% higher than the 50D SMA, the MAx would be 50%/5% = 10. A user might opt to take a countertrend trade when the MAx exceeds a predetermined level.
The MAx can also be useful when trading breakouts above or below the key moving average of your choosing. The lower the MAx, the tighter stop loss one can take if trading against that level.
Identifying an extreme price extension using MAx 👇
Price mean reverted immediately following the high MAx 👇
Why does 52WR matter?
Historical analysis conducted by market legends like William O’Neill and Mark Minervini indicates that stocks trading at or near 52wk highs tend to outperform over time, and vice versa for stocks trading close to 52wk lows. Avoiding stocks trading with a low 52WR metric can help traders avoid buying stocks in downtrends. Likewise, focusing on stocks trading with a high 52WR provides a technical edge.
💠 Stage Analysis Guide
Short-term and long-term stage analysis data is provided in the two rightmost columns of each table. The columns are labeled ST ⇅ and LT ⇅.
Why is Stage Analysis important? Popularized by Stan Weinstein, stage analysis is a trend following system that classifies assets into four stages based on price-trend analysis.
The problem? The interpretation of stage analysis is highly subjective. Based on the methodology provided in Stan Weinstein’s books, five different traders could look at the same chart, and come to different conclusions as to which stage the security is in!
We solved for this by creating our own methodology for classifying stocks into stages using moving averages. This indicator automates that analysis, and produces short-term and long-term trend signals based on user-defined key moving averages. You won’t find this in any textbook or course, because it’s completely unique to the Pristine trading methodology.
Our indicator calculates a short-term trend signal using two moving averages; a fast moving average, and a slow moving average. We default to the 10D EMA as the fast moving average & the 20D SMA as the slow moving average. A trend signal is generated based on where price is currently trading with respect to the fast moving average and the slow moving average. We use the signal to guide shorter-term swing trades.
In general, we want to take long trades in stocks with strengthening trends, and short trades in stocks with weakening trends. The user is free to change the moving averages based on their own short-term timeframe. Every trader is unique!
The same process is applied to calculate the long-term trend signal. We default to the 50D SMA as our fast moving average, and the 200D SMA as the slow moving average for the LT ⇅ signal calculation, but users can change these to fit their own unique trading style.
What is Stage 1?
Stage 1 identifies stocks that transitioned from downtrends, into bottoming bases.
Stage 1A - Bottom Signal: Marks the first day a security shows initial signs of recovery after a downtrend, with early indications of strength emerging.👇
Stage 1B - Bottoming Process: Identifies the ongoing phase where the security continues to stabilize and strengthen, confirming the base-building process after the initial signal.👇
Stage 1R - Failed Uptrend: Detects when a security that had entered an early uptrend loses momentum and slips back into a bottoming phase, signaling a failed breakout.👇
What is Stage 2?
Stage 2 identifies stocks that transitioned from bottoming bases to uptrends.
Stage 2A - Breakout: Marks the first day a security decisively breaks out, signaling the start of a new uptrend.👇
Stage 2B - Uptrend: Identifies when the security continues to trade in an established uptrend following the initial breakout, with momentum building but not yet showing full strength.👇
Stage 2C - Strong Uptrend: Detects when the uptrend strengthens further, with the security displaying clear signs of accelerating strength and buying pressure.👇
Stage 2R - Failed Breakdown: Detects when a security that had recently entered a corrective phase reverses course and reclaims its upward trajectory, moving back into an uptrend.👇
What is Stage 3?
Stage 3 identifies stocks that transitioned from uptrends to topping bases.
Stage 3A - Top Signal: Marks the first day a security shows initial signs of weakness after an uptrend, indicating the start of a potential topping phase.👇
Stage 3B - Topping Process: Identifies the period following the initial signal when the security continues to show signs of distribution and potential trend exhaustion.👇
Stage 3R - Failed Breakdown: Detects when a security that had entered a deeper corrective phase reverses upward, recovering enough strength to re-enter the topping phase.👇
What is Stage 4?
Stage 4 identifies stocks that transitioned from topping bases to downtrends.
Stage 4A - Breakdown: Marks the first day a security decisively breaks below key support levels, signaling the start of a new downward trend.👇
Stage 4B - Downtrend: Identifies when the security continues to trend lower following the initial breakdown, with sustained bearish momentum, though not yet fully entrenched.👇
Stage 4C - Strong Downtrend: Detects when the downtrend intensifies, with the security displaying clear signs of accelerating weakness and selling pressure.👇
Stage 4R - Failed Bottom: Detects when a security that had begun to show early signs of bottoming reverses course and resumes its decline, falling back into a downtrend.👇
Stage N/A - Recent IPO: Applies to stocks that recently IPO’ed and don’t have enough data to calculate all necessary moving averages.
💠 Historical Analysis
Users can leverage the Replay feature in TradingView to perform historical analysis and see how the overall configuration of global risk assets looked at key turning points in the market!
To perform historical analysis:
1) Show the chart if previously hidden (see Tips and Tricks).
2) Click the Replay button on the toolbar at the top of the chart.
3) Use the slider on the chart to select the bar to begin the analysis.
💠 Comprehensive Tooltips
Hover over header labels to get detailed information about the data and relevant calculations.
For stage analysis (Short Term and Long Term), the tooltips provide a complete key of all the relevant stages.
💠 Settings and Preferences
▪ Customize this script by setting preferred colors and thresholds.
▪ There are two tables that can be customized, one on each side of the chart. For each table you can configure the location and show/hide each table. You can also specify colors for header and row data, including your preferred text size.
▪ You can customize the moving averages that are used in stage analysis. Specify your preferred fast and slow moving averages for both short-term and long-term analysis.
▪ For the ATR extension, the default moving average is 50D SMA. You can choose the length and type (SMA or EMA) to align with your trading preferences.
💠 Tips and Tricks
▪ Hide/Show Chart:
To provide a clean backdrop for the tables, it can be helpful to hide the chart. Hover your mouse over the symbol information in the upper right. Select the "..." option and choose "Hide" option. Choose the option "Show" to see the chart details if hidden.
▪ Futures Outside Regular Trading Hours (RTH):
In order for the data in the “%Δ” column of the the “Equity Alternatives” table to populate correctly when outside of regular trading hours, you must have your chart displaying a futures contract. Examples: ES, NQ, RTY, GC.
Skrip jemputan sahaja
Hanya pengguna yang diberikan kebenaran oleh penulis mempunyai akses kepada skrip ini dan ini selalunya memerlukan pembayaran. Anda boleh menambahkan skrip kepada kegemaran anda tetapi anda hanya boleh menggunakannya selepas meminta kebenaran dan mendapatkannya daripada penulis — ketarhui lebih lanjut di sini. Untuk lebih butiran, ikuti arahan penulis di bawah atau hubungi pristinecap secara terus.
TradingView tidak menyarankan pembayaran untuk atau menggunakan skrip kecuali anda benar-benar mempercayai penulisnya dan memahami bagaimana ia berfungsi. Anda juga boleh mendapatkan alternatif sumber terbuka lain yang percuma dalam skrip komuniti kami.
Arahan penulis
Access our tools here: https://tools.pristinecapital.net
Amaran: sila baca panduan kami untuk skrip jemputan sahaja sebelum memohon akses.
Access our tools here: tools.pristinecapital.net
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip jemputan sahaja
Hanya pengguna yang diberikan kebenaran oleh penulis mempunyai akses kepada skrip ini dan ini selalunya memerlukan pembayaran. Anda boleh menambahkan skrip kepada kegemaran anda tetapi anda hanya boleh menggunakannya selepas meminta kebenaran dan mendapatkannya daripada penulis — ketarhui lebih lanjut di sini. Untuk lebih butiran, ikuti arahan penulis di bawah atau hubungi pristinecap secara terus.
TradingView tidak menyarankan pembayaran untuk atau menggunakan skrip kecuali anda benar-benar mempercayai penulisnya dan memahami bagaimana ia berfungsi. Anda juga boleh mendapatkan alternatif sumber terbuka lain yang percuma dalam skrip komuniti kami.
Arahan penulis
Access our tools here: https://tools.pristinecapital.net
Amaran: sila baca panduan kami untuk skrip jemputan sahaja sebelum memohon akses.
Access our tools here: tools.pristinecapital.net
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.