PROTECTED SOURCE SCRIPT
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.