NYSE Market Sentiment Oscillator - Intraday w/ alerts

2022년 10월 11일

The ULTIMATE market sentiment indicator that combines the sentiments from the MARKET INTERNALS: ADD ( NYSE ADV minus DECL ), VVOLD ( NYSE UUVOL minus DDVOL ) and TICK ( NYSE Cumulative tick ). Sentiment is based on calculating the crossovers of moving average pairs for each of the market internals. As a result, 3 corresponding signal lines are generated + 1 combined Market Sentiment Oscillator (aka MSO) signal line.

**Important** This indicator is only meant to be used for intraday 1min-5 min timeframe only *** It may not function at higher timeframes without updating some moving average periods.

WHAT IS IT SHOWING?

Each signal lines represents the trend of the 3 market internals (TICK, ADD, VOLD). If signal line is above zero, it is in a bullish trend; below zero, bearish. The oscillating frequency of these lines are dependent on the length of moving average pairs of your choosing. A combined MSO signal line shows the combined trends of those 3 market internals, hence it represents real time market sentiment of the NYSE.

FEATURES

There are 2 display modes for this indicator:
1) On a separate pane
- in this mode, the signal lines can be toggled to oscillate along the zero line

2) On the price chart
- in this mode, the signal lines can be toggled to oscillate along the OHLC line of the price chart
- comes with Nadaraya-Watson Envelope and ATR bands

BUY/SELL SIGNALS AND STRATEGIES

By default, this indicator comes with two day trading strategies and offers long and short signals with alerts. These strategies attempts to leverage on the oscillating nature of market price movement on major NYSE indices, such as SPY, SPX, QQQ, NAS, all of which have high correlation with the market internals. However, please note that these signals offers no guarantee to profitability, so use at your own risk.

BACKGROUND COLORS SIGNIFYING TRENDS

There are options to display the background colors in 2 colors and shades.
1) Short-term sentiment
- Bright green = ADD / VOLD / TICK all in up trend
- Dimmed green = ADD / VOLD in up trend, but not TICK
- Bright red = ADD / VOLD / TICK all in down trend
- Dimmed red = ADD / VOLD in down trend, but not TICK

2) Trend Convergence
- Green = ADD / VOLD / TICK all bullish
- Red = ADD / VOLD / TICK all bearish

3) MSO
- Green = MSO bullish ( MSO signal line > 0 )
- Red = MSO bearish ( MSO signal line < 0 )

MARKET INTERNALS REAL-TIME DATA TABLE

A data table can be toggled on / off that shows the real-time sentiment and values of the three market internals. It may be useful in making quick trading decisions. The table cells are colored according to their corresponding trends.

2022년 10월 13일

릴리즈 노트

Added additional option for exit strategy
Added option to show arrows for MSO reversals

2023년 2월 7일

릴리즈 노트

Updated script to fix bug on MSO reversal arrows not lining up between 'on chart' vs 'on separate pane'

2023년 2월 10일

릴리즈 노트

Updated default to plot on price chart instead.

2023년 2월 20일

릴리즈 노트

Fixed "1 hr delay" bug when using on exhanges that are in different timezone then NYSE (ie. NQ, ES)

2023년 3월 10일

릴리즈 노트

Added 2 new columns on data table for NASDAQ and AMEX. *Note that trend analysis is still based on NYSE.

Changed UVOL/DVOL data display format to one ratio number.
- Positive ratio = UVOL > DVOL
- Negative ratio = UVOL < DVOL
Added UVOL/DVOL (VOLD) trend threshold input for NASDAQ and AMEX. Default values are 2.5, 2.0, 1.5 for NYSE, NASDAQ, and AMEX respectively. Cell colors are dependent on these threshold values.

Added 2 more positions options for data table

https://www.tradingview.com/x/pxqGtXOc/

2023년 3월 10일

릴리즈 노트

updated with option to allow or disable signal repaint on the real time candle

2023년 3월 16일

릴리즈 노트

Updated alerts with alert () functions. To use alerts, create alerts using 'Any alert() function calls'. Messages are customizable in the setting.
Updated with option to display entry price on Buy/Sell signals.

2023년 3월 16일

릴리즈 노트

Added options for enable/disabling buy/sell alerts. This allow for different alert combinations to be made.

2023년 3월 16일

릴리즈 노트

Minor typo fix in setting

5월 28일

릴리즈 노트

Bug fixed:
- wasn't working on seconds chart