Comparison (Malaysia Index & Sector)This is just a simple tool for convenient to compare and showing a clear image of all sector and index in Malaysia. They are just in one indicator. From this indicator, you can predict momentum of each sector in Malaysia, which is currently in bull or bear trend.
STRUCTURE
In the setting, the first line with the option of the following index (Malaysia Index) :
1. FBMKLCI
2. FTSEMYX:FBMSCAP
3. FTSEMYX:FBMACE
4. FTSEMYX:FBM70
5. FTSEMYX:FBMT100
6. FTSEMYX:FBMFLG
7. FTSEMYX:FBMEMAS
8. FTSEMYX:FA40
9. FTSEMYX:FBMMSCS
10. FTSEMYX:FBMAPMYR
11. FTSEMYX:FBMMSCAP
The rest of lines is all of the following sector (Malaysia Sector):
1. Technology
2. Telecommunication
3. Health
4. Consumer Product
5. Industrial Product
6. Construction
7. Property
8. Plantation
9. Utilities
10. Transportation
11. Energy
12. REIT
13. Finance
The last line (Line 15) is provided for other stock/index which is not available in option to manually fill.
All sector and index price are smoothen by Moving Average (MA). The default moving average is Relative Moving Average (RMA) which is used in Relative Strength Index ( RSI ) Oscillator. But the range is different from RSI , it is from -100 to 100 instead of 0 to 100. In the end, result and interpretation are just the same as RSI . Green area indicates oversold area, while red area is overbought.
Other choice of Moving Averages are available to change.
The problem of putting all together is the script may take longer to process. It is just for convenient use.
Bottom-Up or Top-Down Invest?
Sector
Sector High/LowHighlights which S&P SPDR Sector ETFs are at highs of day (green letter) or lows of day (red letter)
The first candle of the day is always all-green because by default the first candle of the day has the high of the day. So this indicator is more meaningful later in the day when sectors are making repeated highs/lows
Hersheys CoCo BarsThis is my latest attempt to show price movement differences between symbols. I want to see the buying and selling pressure... is that price movement going with the market or is it moving alone? It's VERY interesting to watch this indicator and see how things play out!
In my previous versions the arrows on the chart were too much clutter, while the single row of color under the chart was not enough info. Also, I removed the calculations to build a world index because the correlation between US and world markets is a hard nut to crack, plus it took many seconds to calculate.
So here is "CoCo Bars", which clearly show price moves with or against another symbol. The default symbol is the US index SPY. The coolest thing here is there are three rows of data in ONE INDICATOR! Many thanks to user rollas for helping with that code.
"CoCo" stands for correlation coefficient, which is what I was studying when I got the idea for this project.
GREEN bars in row #1 = Symbol up, US up, Symbol up more than US
RED bars in row #2 = Symbol down, US down, Symbol down more than US
In rows 1 and 2 the color intensity is based on the biggest difference, light, medium and dark colors.
green/red colors in bottom row are a 7 period average of the sum of price changes of both symbol and index, green = positive, red = negative
Enjoy, and good trading!
Brian Hershey
