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Market Breadth - Primary Indicator

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Market Breath is the equilibrium between number of stocks in advance to those in a decline, in other words a method to determine the current market environment. In a positive phase bullish setups will have improved probabilities and presence, whereas in a bearish phase the opposite would be true.

The primary indicator measure the trend in SPY and correlation between different EMA's.
- Green Columns: Positive Breadth
- Red Columns: Negative Breadth

This indicator can be combined with the secondary breadth indicator to further note excessive movement and risk of mean reversion.
版本注释
You can now customize which symbol / market the indicator will be based on.
版本注释
This version is now based on NASDAQ:CRSPTM1, which tracks the US Total Market Index. This expands coverage to a broader spectrum of U.S. equities.
版本注释
Updated chart and color scheme.

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