Market Breath is the equilibrium between number of stocks in advance to those in a decline, in other words a method to determine the current market environment. In a positive phase bullish setups will have improved probabilities and presence, whereas in a bearish phase the opposite would be true.
The primary indicator measure the trend in SPY and correlation between different EMA's. - Green Columns: Positive Breadth - Red Columns: Negative Breadth
This indicator can be combined with the secondary breadth indicator to further note excessive movement and risk of mean reversion.
Note di rilascio
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You can now customize which symbol / market the indicator will be based on.
Hey, great indicator. Is there any possibility to create a filter where we can choose what market we want to look at? For instance if I want to look at Nasdaq or any other market I am trading. That would be a great feature. A very easy but effective tool to have in once arsenal.