Mervaleta Breadth — Indicator by FractalTrade_

Fellow Merval investors/traders , I'm sharing this script with you that allows you to calculate a breadth indicator using the components of the Merval Index (IMV) from Argentina.

This breadth indicator shows the percentage of stocks that are above a moving average. In this case, you can choose between an EMA or SMA, and you can select the period of the moving average.

The components that make up the index and were used for this script are as follows:

AGRO
ALUA
BBAR
BMA
BYMA
CEPU
COME
CRES
CVH
EDN
GGAL
HARG
LOMA
MIRG
PAMP
SUPV
TECO2
TGNO4
TGSU2
TRAN
TXAR
VALO
YPFD

For all of them, their dollar value in CCL was used, calculated with GGAL.

Enjoy :)

Release Notes:

Cleaned and made the code more efficient

@FractalTrade_

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

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