High Low Index SPY Top 40

SPDR S&P 500 ETF TRUSTArca

Description

⋅ Mar 11, 2022 2:03 PM

Modification from original code for "High Low Index" by © LonesomeTheBlue https://www.tradingview.com/script/WDAaGDMJ-High-Low-Index/
- 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

⋅ Mar 11, 2022 5:56 PM

corrected an offset error on the blue line.

Release Notes

⋅ Mar 11, 2022 7:14 PM

fixed another offset error on the Record High Percent line

Release Notes

⋅ Mar 14, 2022 5:20 PM

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

⋅ Mar 3, 2023 6:38 PM

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

Release Notes

⋅ Mar 30, 2023 6:20 PM

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

Comments

Piphunter001

⋅ Jan 11, 2024 1:50 PM

Best indicator to gauge direction for US index.
Post a description or video on how you will analyse this indicator so that if i miss anything I can add it in my analysis. Thanks.