IPB_MA_Market_Breadth_NIFTY

This is a very powerful index to guage the market breadth of an index.
By default it is configured for the top 18 stocks of Nifty.

This indicator calculates the momentum (RSI) of the no. of stocks above and below MA difference.
Divergence of shorter momentum with price gives reversal caution.
Crossing of shorter momentum over / under longer momentum provides a bullish stance / bearish stance.

It also has a MACD of no. the stocks above and below MA difference.

As usual it is better to use this indicator along with other indicators.

Notes de version:

By default, Number of stocks above 20 MA line is plotted for Nifty top 18 constituents comprising more than 90% of the index.
Has features to change the Moving average to any number.
Has provisions to manually enter the stock as well.
This is a very effective market breadth indicator for Nifty Stocks.
GoodLuck.