Description: The Power Market Indicator is designed to help traders assess market strength and make informed decisions for entering and exiting positions. This innovative indicator provides a comprehensive view of the evolution of Simple Moving Averages (SMA) over different periods and offers a clear measure of market strength through a total score.
Key Features:
Multi-Period SMA Analysis:
Calculates Simple Moving Averages (SMA) for 10 different periods ranging from 10 to 100. Provides detailed analysis by comparing the current closing price with these SMAs. Market Strength Measurement:
Assesses market strength by calculating a total score based on the relationship between the closing price and the SMAs. The total score is displayed as a histogram with distinct colors for positive and negative values. Smoothed Curve for Better View:
A smoothing of the total score is applied using a 5-period Simple Moving Average to represent the overall trend more smoothly. Dynamic Information Table:
Real-time display of the maximum and minimum values among the SMAs, as well as the difference between these values, providing valuable insights into the variability of moving averages. Visual Reference Lines:
Horizontal lines at zero, +50, and -50 for easy evaluation of key score levels. How to Use the Indicator:
Position Entries: Use high positive scores to identify buying opportunities when market strength is strong. Position Exits: Negative scores may signal market weakness, allowing you to exit positions or wait for a better opportunity. Data Analysis: The table helps you understand the variability of SMAs, offering additional context for your trading decisions. This powerful tool provides an in-depth view of market dynamics and helps you navigate your trading strategies with greater confidence. Embrace the Power Market Indicator and optimize your trading decisions today!
진정한 TradingView 정신에 따라, 이 스크립트의 저자는 트레이더들이 이해하고 검증할 수 있도록 오픈 소스로 공개했습니다. 저자에게 박수를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 출판물에서 이 코드를 재사용하는 것은 하우스 룰에 의해 관리됩니다. 님은 즐겨찾기로 이 스크립트를 차트에서 쓸 수 있습니다.