Stuart's Market Internals Clouds Indicator
If you find market internals inform your trading decisions (whether SPX, SPY or more generally) this may be helpful.
Currently available internals are:
- ADD
- TICK
- TRIN
- VIX
- VOLD
You can add this indicator to your chart multiple times, and display a different internal in each one.
I typically have two SPX charts open; one at 15 seconds or so, for exact timing of entries / exits, and one at 2-3-5-10 minutes, which I refer to when deciding whether I want to be in or out of a trade.
I don't do swing trading. Apart from (maybe) VIX, I don't think market internals are much use over longer time frames.
As the clouds use EMA values, the display during the first few bars of a session can be slightly off, particularly if there's a large gap up / down. As most people don't study market internals to make trading decisions when scalping the SPX open, this probably isn't a concern.
The Text Color is set as a mid-grey, which is readable in both TV color schemes. I prefer dark mode, and so I change the text color to white. You can't see the scheme setting from within a script, unfortunately, so this can't be automated.
Feedback, constructive criticism and suggestions for improvement / new features always welcomed!
Currently available internals are:
- ADD
- TICK
- TRIN
- VIX
- VOLD
You can add this indicator to your chart multiple times, and display a different internal in each one.
I typically have two SPX charts open; one at 15 seconds or so, for exact timing of entries / exits, and one at 2-3-5-10 minutes, which I refer to when deciding whether I want to be in or out of a trade.
I don't do swing trading. Apart from (maybe) VIX, I don't think market internals are much use over longer time frames.
As the clouds use EMA values, the display during the first few bars of a session can be slightly off, particularly if there's a large gap up / down. As most people don't study market internals to make trading decisions when scalping the SPX open, this probably isn't a concern.
The Text Color is set as a mid-grey, which is readable in both TV color schemes. I prefer dark mode, and so I change the text color to white. You can't see the scheme setting from within a script, unfortunately, so this can't be automated.
Feedback, constructive criticism and suggestions for improvement / new features always welcomed!
Release Notes:
Added 'Custom' field, to display your market internal of choice (or BTC, if you prefer!)
More user choice with respect to indicator line levels
More user choice with respect to indicator line levels