––––HISTORY & CREDITS 🏦 The [TTI] Eric Krull's Index and Sector Performance Indicator is a powerful tool designed to provide users with a comprehensive view of the market's health and leading sectors. This innovative indicator analyzes various indexes and sectors, including the Nasdaq Composite, Renaissance IPO ETF, NYSE Composite, DJIA, and SP500, as well as 11 custom (user input) ETFs representing major sectors. By offering a detailed look at these indexes and sectors, users can better understand market trends and make informed trading decisions. Credit for the indicator goes to Eric Krull from the Lifecycle Trade team who has showcased the idea for it.
––––WHAT IT DOES 💡 The [TTI] Eric Krull's Index and Sector Performance Indicator allows traders to:
👉 Monitor the performance of various market indexes, such as the Nasdaq Composite, Renaissance IPO ETF, NYSE Composite, DJIA, and SP500 and compare them to one another 👉Track the performance of 11 user input tickers or ETFs representing major sectors, providing insights into market trends and sector strength (could also compare stocks or other instruments like bonds, crypto or FOREX) 👉Assess overall market health by analyzing the Year-to-Date (YTD) performance of the selected indexes and input tickers. 👉Calculate where in the year to date range is the ticker/sector currently since the beginning of the year.
––––HOW TO USE IT 🔧 Using the [TTI] Eric Krull's Index and Sector Performance Indicator is simple:
👉Add the indicator to your TradingView chart by searching for "[TTI] Eric Krull's YTD Market Indexes" in the indicators list. 👉Customize the indicator by entering your desired symbols for the 11 custom ETFs, representing the major sectors you wish to analyze. 👉Adjust the table position on your chart by selecting from the available options: Top Left, Top Center, Top Right, Middle Left, Middle Center, Middle Right, Bottom Left, Bottom Center, or Bottom Right. 👉Review the table to analyze the YTD performance, percentage change, and range of each index and sector, which will help you identify leading sectors and gauge overall market health. Compare the sectors against one another to see where money are flowing in and also compare the overall performance in the index.
By utilizing the [TTI] Eric Krull's Index and Sector Performance Indicator, you can make informed trading decisions based on the current market trends and sector performance. Stay ahead of the market by understanding which sectors are leading and use this knowledge to adapt your trading strategy accordingly.