Market Trend — Indicator by morzor61

movingaverage sentiment breadthstudies setindex

This indicator show how is the trend of 40 stock in SET Index Thailand ordered by market capitalization.

RSI, Moving Average and MACD is used to calculate vale of each stocks.

The trend will be assigned and cumulative as 1 represent uptrend while -1 represents downtrend.

For example RSI
If RSI > RSI moving average, it will be uptrend and return 1.
If RSI < RSI moving average, it will be downtrend and return-1.

The calculation will return positive and negative of total 40 stocks (or other tickers).
If positive is greater than negative, it mean that the market is uptrend and vise versa.

Here some examples
RSI

Moving Average

MACD

You can change to other tickers.

Enjoy..

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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