High Low Index SPY Top 40 — Indicator by PtGambler

forecasting movingaverage sentiment spy sentimentalanalysis marketsentiment

Modification from original code for "High Low Index" by © LonesomeTheBlue

- Made modification specifically for Top 40 AMEX:SPY holdings
- Added Market sentiment histogram (Total count green vs red), and SMA line for it
- Added arrows for peaks and dips on High Low Index and Market Sentiment MA

Idea behind this indicator is that SPY should follow the overall sentiment of its top holdings. I believe this bring great value to SPY traders.

Enjoy~!

Release Notes:

corrected an offset error on the blue line.

Release Notes:

fixed another offset error on the Record High Percent line

Release Notes:

I am such a noob~ can't get an offset right. This should fix the scaling error. Everything should be scaled from -40 to 40.

Release Notes:

updated SPY Top 40 list
old list is left in the code if anyone want to still use them.

Release Notes:

Updated with option for Top 10, 20, 30
Updated with option to remove exchange from ticker on table

If you make $$$ off it, consider donating some of your juicy gain :)
Buy me a coffee - www.buymeacoffee.com/PtGambler
PayPal - paypal.me/PtGambler

You can reach me privately through my Discord Channel: discord.gg/WMQfaVGyQC

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.

Want to use this script on a chart?