Institutional Breadth Suite (Universal) - Advanced Market Partic

Overview
The Institutional Breadth Suite (Universal) is a powerhouse indicator designed for professional traders and analysts who want to gauge the true health of the market beyond just price action. Market breadth measures how many stocks (or assets) are participating in a move—essential for spotting divergences, confirming trends, and avoiding traps where prices rise/fall on narrow participation.
This indicator is universal: It works on ANY chart (stocks, indices, crypto, forex) by intelligently auto-detecting real breadth data for major indices (like S&P 500 via SPY/SPX) or falling back to a sophisticated synthetic calculation based on multi-factor analysis (price momentum, RSI, and MA distances). No more data limitations—it's plug-and-play!
Inspired by classics like Zweig's Breadth Thrust, McClellan Oscillator, and IBD Follow-Through Days, but enhanced with modern stats (Z-Score, Percentile Rank) and divergence detection. Institutions watch breadth religiously; now you can too.
Why Use It?

Early Warnings: Catch hidden weakness (e.g., price highs with declining breadth) before crashes.
Confirmation: Validate rallies with broad participation.
Regime Awareness: Instant visual cues on bull/bear/neutral markets.
Versatile: Free users get synthetic mode; premium data unlocks real tickers.
Backed by History: Zweig Thrust has ~95% accuracy on major bull markets since 1945.

Key Features

Multi-Mode Data Sourcing: Auto-detect real breadth (e.g., % S&P stocks above 200-MA), custom tickers (like SPXA200R), or synthetic calc from any chart.
Core Breadth Lines: % above 50/150/200-day MAs (primary: 200-MA, the institutional gold standard).
Momentum Oscillator: McClellan-style (19/39 EMA) for acceleration/deceleration.
Statistical Overlays: Z-Score (±2 extremes for overbought/oversold) and Percentile Rank (0-100 historical context).
Signal Generators:

Breadth Thrust (BT): Oversold (<40%) to strong (>61.5%) surge—major bull signal.
Follow-Through Day (FTD): IBD-style confirmation post-selloff.
Breadth Expansion (EXP): Rapid participation growth.
Divergences: Bullish (↗) / Bearish (↘) arrows for reversals.


Regime Background: Color-coded chart (Green: Bull, Red: Bear) for at-a-glance context.
Dashboard Table: Real-time metrics (regime, Z-Score, ROC) in top-right.
Alerts: 10+ conditions (thrusts, crosses, extremes) for email/SMS notifications.
Customizable: 20+ inputs for lengths, thresholds, and display toggles.

How to Use This Indicator
1. Installation

Copy the Pine Script code above.
Open TradingView > Chart > Pine Editor (bottom panel).
Paste the code > Click "Add to Chart."
It auto-applies as a separate pane below your price chart (overlay=false).
Adjust timeframe: Best on Daily for swing trading; Weekly for long-term. Works on intraday too!

2. Recommended Settings (Start Here)
Go to Indicator Settings (gear icon) and use these defaults for most markets:

Data Source: "Auto Detect" (tries real data on SPY/QQQ; synthetic otherwise).
Index for Comparison: "SP:SPX" (for US equities; change to "NASDAQ:IXIC" for tech).
MA Lengths: Short: 50, Medium: 150, Long: 200 (don't change unless advanced).
Thrust Params: Lookback: 10, Low: 40%, High: 61.5% (Zweig originals).
Oscillator EMAs: Fast: 19, Slow: 39 (McClellan standard).
Divergence: Lookback: 50 bars, Threshold: 5%.
Stats Period: 252 (1 trading year).
Display: Enable Primary Breadth, Momentum Osc, Regime BG, Divergences. (Toggle Z-Score/Percentile for stats focus.)

Pro Tip: For crypto/forex (no real breadth), stick to "Current Chart Only." For premium users: Set "Custom Symbols" + ticker like "SPXA200R."
3. Interpreting the Plots
The indicator plots on a 0-100% scale (breadth strength):

Blue Thick Line (% Above 200-MA): Core metric.



70%: Strong bull (broad rally).


50-70%: Healthy bull.
30-50%: Choppy/neutral.
<30%: Bearish weakness.


Gray Line (% Above 50-MA): Short-term sensitivity (leads the 200-MA).
Purple Line (Momentum Osc): Scaled to 0-100. Above 50 = improving; crosses zero = momentum shift.
Orange Circles (Z-Score, optional): >60 = overbought (+1σ); <40 = oversold (-1σ).
Fuchsia Crosses (Percentile, optional): >90 = top 10% strength historically.
Horizontal Lines: 70/50/30/10 (regimes); 61.5/40 (thrust levels).
Background Colors: Green (bull), Yellow (neutral), Red (bear)—fades for subtlety.

Dashboard (Top-Right): Quick stats like "Regime: Bull" or "Z-Score: -1.2" (red = negative).
4. Key Signals & Trading Strategies
Watch for these in the lower pane—combine with price action/volume for entries.

Signal,Shape/Text,Meaning,Action Strategy

Breadth Thrust (BT),"Lime Triangle ↑ ""BT""",Rare bull confirmation after selloff. 95%+ historical win rate.,"Buy: Enter long on close above signal bar. Target: Next resistance. Stop: Below recent low. (E.g., 2020 COVID bottom.)"

Follow-Through Day (FTD),"Green Diamond ""FTD""",Rally confirmation 3-5 days post-low.,Buy: Scale in if price +1.5% on high volume. Trail stops with 50-MA.

Breadth Expansion (EXP),"Aqua Circle ""EXP""",Improving participation mid-trend.,Add to Position: Pyramid longs in uptrends.

Bullish Divergence (↗),Lime Label Below,"Price lower low, breadth higher low—bottom signal.",Buy Reversal: Wait for price close > prior swing high. High R:R setups at extremes.

Bearish Divergence (↘),Red Label Above,"Price higher high, breadth lower high—top warning.",Sell/Short: Exit longs or enter shorts on breakdown.

Regime Crosses,Background Shift,"E.g., Green >70% = bull entry.",Trend Follow: Long above 50%; short below 30%.

Momentum Cross,Purple Line >50,Bullish shift.,Confirmation: Pair with price breakout.


Alert Setup: Right-click indicator > "Add Alert" > Select conditions (e.g., "Breadth Thrust Alert"). Get notified: "Zweig Thrust detected!"

5. Trading Tips & Best Practices

Markets: Ideal for indices (SPY, QQQ) or broad ETFs. On single stocks, it proxies "relative strength" vs. S&P.
Timeframes: Daily/Weekly for direction; 4H for swings. Avoid <1H (noisy).
Combine With: RSI/MACD on price chart; volume spikes. For divergences, zoom out to 50+ bars.
Risk Management: Never trade signals alone—use stops (e.g., 2% below entry). Backtest on your symbols.
Limitations: Synthetic mode estimates (not exact for non-indices). Real data needs premium feed. Thrusts are rare (1-2/year).
Customization: Tweak thresholds for your style (e.g., lower thrust low to 30% for extremes).

This suite turns breadth into actionable intel—level up your edge! Questions? Drop a comment. Like/fave if it helps your trading. 🚀
Disclaimer: Not financial advice. Past performance ≠ future results. Test thoroughly.