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40 Market Breadth
This is a Market Breadth Indicator designed to track how many stocks within a specific group (in this case, 40 Thai stocks from the SET index) are trading above or below a chosen Moving Average.
It’s essentially a "health check" for a sector or index: if most stocks are above their MA, the trend is broad and strong; if only a few are, the market might be fragile.
This Pine Script is a Market Breadth Indicator designed to track how many stocks within a specific group (in this case, 40 Thai stocks from the SET index) are trading above or below a chosen Moving Average.
It’s essentially a "health check" for a sector or index: if most stocks are above their MA, the trend is broad and strong; if only a few are, the market might be fragile.
Core Functions
Customizable Symbol List: It takes a list of up to 40 stock tickers (defaulting to major Thai stocks like ADVANC, AOT, PTT).
Breadth Calculation: It checks the price of every stock in that list against a Moving Average (SMA or EMA).
Visual Output:
Green Line: Number of stocks trading above the MA.
Red Line: Number of stocks trading below the MA.
50% Line: A baseline to see if the majority (bullish) or minority (bearish) are performing well.
It’s essentially a "health check" for a sector or index: if most stocks are above their MA, the trend is broad and strong; if only a few are, the market might be fragile.
This Pine Script is a Market Breadth Indicator designed to track how many stocks within a specific group (in this case, 40 Thai stocks from the SET index) are trading above or below a chosen Moving Average.
It’s essentially a "health check" for a sector or index: if most stocks are above their MA, the trend is broad and strong; if only a few are, the market might be fragile.
Core Functions
Customizable Symbol List: It takes a list of up to 40 stock tickers (defaulting to major Thai stocks like ADVANC, AOT, PTT).
Breadth Calculation: It checks the price of every stock in that list against a Moving Average (SMA or EMA).
Visual Output:
Green Line: Number of stocks trading above the MA.
Red Line: Number of stocks trading below the MA.
50% Line: A baseline to see if the majority (bullish) or minority (bearish) are performing well.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya secara bebas dan tanpa apa-apa had – ketahui lebih di sini.
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 dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya secara bebas dan tanpa apa-apa had – ketahui lebih di sini.
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.