OPEN-SOURCE SCRIPT
MARKET CONDITIONS TOOLBOX PRO
MARKET CONDITIONS TOOLBOX PRO** is a visual market-state dashboard designed to summarize multiple technical conditions of the S&P 500 ETF (SPY) in a single table.
The script pulls SPY data from user-selectable higher timeframes (daily by default) and evaluates several widely used technical indicators, converting each into a simple **Bullish / Neutral / Bearish** status. The results are displayed in a compact table for quick reference.
Indicators included:
-Directional Strength (based on directional movement)
-MACD (positive vs. negative momentum)
-RSI (above or below midpoint)
-Stochastic Oscillator
-CCI
-Momentum Velocity (custom weighted momentum calculation)
-SPY daily candle direction (green/red/neutral)
Each indicator is assessed independently using objective threshold rules (for example, above or below zero or 50). No indicator is modified to repaint or look ahead.
An overall Market Condition is shown:
-Bullish when all indicators and the SPY daily candle align positively
-Bearish* when all indicators and the SPY daily candle align negatively
-Neutral when conditions are mixed
A simplified -Risk Status- (“Risk On”, “Risk Off”, or “Neutral”) mirrors this alignment to provide a high-level market context.
Key characteristics:
-Uses SPY as a broad market proxy
-Multi-timeframe capable via user inputs
-Non-predictive, informational display only
-No alerts, trade entries, exits, or signals
-Designed for market context, not automation
I use this tool really to gauge risk, when i'm paying with the direction of the market, when to risk off.
The script pulls SPY data from user-selectable higher timeframes (daily by default) and evaluates several widely used technical indicators, converting each into a simple **Bullish / Neutral / Bearish** status. The results are displayed in a compact table for quick reference.
Indicators included:
-Directional Strength (based on directional movement)
-MACD (positive vs. negative momentum)
-RSI (above or below midpoint)
-Stochastic Oscillator
-CCI
-Momentum Velocity (custom weighted momentum calculation)
-SPY daily candle direction (green/red/neutral)
Each indicator is assessed independently using objective threshold rules (for example, above or below zero or 50). No indicator is modified to repaint or look ahead.
An overall Market Condition is shown:
-Bullish when all indicators and the SPY daily candle align positively
-Bearish* when all indicators and the SPY daily candle align negatively
-Neutral when conditions are mixed
A simplified -Risk Status- (“Risk On”, “Risk Off”, or “Neutral”) mirrors this alignment to provide a high-level market context.
Key characteristics:
-Uses SPY as a broad market proxy
-Multi-timeframe capable via user inputs
-Non-predictive, informational display only
-No alerts, trade entries, exits, or signals
-Designed for market context, not automation
I use this tool really to gauge risk, when i'm paying with the direction of the market, when to risk off.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.