krishnadeshmukh/NIFTY50 Micro Sentiment Part 1

📘 Script Description: NIFTY50 Micro Sentiment — Part 1

This indicator tracks real-time micro sentiment across the top 25 weighted stocks of the NIFTY50 index using a volume-based distribution model.

🔍 How it works:

Scans last N bars (configurable) for each stock.

Divides each stock’s price range into equal bins.

Measures bullish vs bearish volume in each bin based on:

Candle Color (Close > Open) or

Close Near High (Close > Midpoint).

Assigns a sentiment value:

+1 → Bullish dominance

-1 → Bearish dominance

0 → Neutral

📊 Each stock's sentiment is weighted by its contribution to the index.

🧮 Displays:

Weighted Sentiment Score

Bullish / Bearish / Neutral Components

Updated every 5 bars with an easy-to-read table.

Use this to gauge underlying micro shifts in sentiment before broader market moves.