@JC_Trading, Its a custom made an indicator that only applies to sell side, ie, when the red vertical shades appear on spx plot. For now it's my last version, it ensures you can get out before major drawdowns, as you can see by comparison with the Ticker percentage drawdown from highs indicator. Beware of values of Equity Put Call / Spx indicator at green color below 0.40, meaning that are few players protecting for a drop in the market, in other words, evaluates the euphoric or depression psychological effect by the participants in the market.
JoaoPauloPires
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@JC_Trading, For buy-side, it's a different story... it's more complicated than this. in IMHO total volume its the best measure for a good resistance point... also less fewer stocks makings new lows than a few days before could be a good entry point also. Its a mix of the two I think.