(1) What is Percentage of Stocks above Moving Average? Percentage of Stocks above Moving Average is a breadth indicator and could be used for both trend-followers and contrarians. a) Trend-Follow If 50%-70% of Stocks are above their 200MA, bullish momentum is forming and rally could last for next several weeks, months. (Confirmation) b) Contrarian If only 0-5% of Stocks are above their 200MA, the market should have been horrible but it's a good opportunity to start building equities long position. And if you short, you want to consider about dead cat bounce next. (2) How to use this indicator? - Add this indicator to your chart. - Select the market type from options (S&P500, Dow Jones Industrials, Rullsel 2000 etc) For sector analysis, you can select from S&P500 sectors. - Select the Days of MA length from options ("200", "150", "100", "50", "20")
Hi, great indicator which is very helpful to gauge the overall market sentiment.
How can I apply that for the Indian market indices (NIFTY, BANK NIFTY, SENSEX ETC).
Feedback would be highly appreciated.
Regards,
ARUN
JS_TechTrading
⋅
Hi, great indicator which is very helpful to gauge the overall market sentiment.
How can I apply that for the German market indeices (DAX, MDAX, SDAX).
Feedback would be highly appreciated.
Regards,
Juergen
HighTimesTrader
⋅
This is not visible on my charts. Does this need to be updated?