40 Market Breadth

This is a Market Breadth Indicator designed to track how many stocks within a specific group (in this case, 40 Thai stocks from the SET index) are trading above or below a chosen Moving Average.

It’s essentially a "health check" for a sector or index: if most stocks are above their MA, the trend is broad and strong; if only a few are, the market might be fragile.

This Pine Script is a Market Breadth Indicator designed to track how many stocks within a specific group (in this case, 40 Thai stocks from the SET index) are trading above or below a chosen Moving Average.

It’s essentially a "health check" for a sector or index: if most stocks are above their MA, the trend is broad and strong; if only a few are, the market might be fragile.

Core Functions
Customizable Symbol List: It takes a list of up to 40 stock tickers (defaulting to major Thai stocks like ADVANC, AOT, PTT).

Breadth Calculation: It checks the price of every stock in that list against a Moving Average (SMA or EMA).

Visual Output:
Green Line: Number of stocks trading above the MA.
Red Line: Number of stocks trading below the MA.
50% Line: A baseline to see if the majority (bullish) or minority (bearish) are performing well.