OPEN-SOURCE SCRIPT

Indices trends

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According to the Dow theory, indices must confirm each other. Based on this idea, I develop an indices trends indicator, including SPY, DIA, and QQQ. The indices trends were calculated based on the average of the short- (blue) and intermediate-term (orange) changes of indices moving average slopes. In addition, IWM trends are shown as a reference in gray color.

Use this indicator together with one of SPY, DIA, QQQ, or IWM to show the overall market conditions.

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