PROTECTED SOURCE SCRIPT
Nasdaq main tickers strength gauge
A kind of bandwidth indicator for Nasdaq index.
A widget to get an overview to the current market.
Part 1: Strength index
How the indexing work:
For each ticker, we obtain an indexed value (base on the distance from central price value) which gauge the relative strength of each global index.
How to read the curve:
The value is based on the location from the band.
1 : price is reached its level 1 upper band.
-1 : price is reached its level 1 lower band.
Above zero, means the price is above mid-price of the day. It is probably receiving a positive capital inflow
Exceed the boundary(-1, 1): more likely there is a drift on that direction for that moment.
The calculation method is discussed on my last publication: https://www.tradingview.com/script/QN1mKsPL-Global-indices-strength-gauge-Indexed/
Part 2: All time high table
How to read the table (new update):
It is how far from the "All time high " Value
If the percentage is smaller than 1% (very close to break all time high), it will be shown in red.
If the percentage is smaller than 3% (close to break all time high), it will be shown in yellow.
Those highlighted tickers are considered as the leader stocks for the Nasdaq
A widget to get an overview to the current market.
Part 1: Strength index
How the indexing work:
For each ticker, we obtain an indexed value (base on the distance from central price value) which gauge the relative strength of each global index.
How to read the curve:
The value is based on the location from the band.
1 : price is reached its level 1 upper band.
-1 : price is reached its level 1 lower band.
Above zero, means the price is above mid-price of the day. It is probably receiving a positive capital inflow
Exceed the boundary(-1, 1): more likely there is a drift on that direction for that moment.
The calculation method is discussed on my last publication: https://www.tradingview.com/script/QN1mKsPL-Global-indices-strength-gauge-Indexed/
Part 2: All time high table
How to read the table (new update):
It is how far from the "All time high " Value
If the percentage is smaller than 1% (very close to break all time high), it will be shown in red.
If the percentage is smaller than 3% (close to break all time high), it will be shown in yellow.
Those highlighted tickers are considered as the leader stocks for the Nasdaq
Script protégé
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