OPEN-SOURCE SCRIPT
ES Cross-Market Sentiment Confirmation
I like to scalp trade the ES. I am always looking for "leading indicators" to help me predict short term direction.
What this indicator does
This indicator gives ES scalpers a quick, at-a-glance read on whether broader market conditions support a bullish or bearish move, by combining three independent confirmation signals into a single composite score. It's designed to sit alongside your primary entry signals (RSI divergence, EMA cross, etc.) as a filter — not a standalone trade trigger.
The three components
NQ Trend Agreement — Compares the short-term rate of change of ES against NQ (Nasdaq futures). When both are moving the same direction, it's treated as confirmation. When they diverge (e.g., ES pushing higher while NQ lags or falls), it's flagged as a caution signal, since divergence often precedes stalls or reversals rather than clean continuation.
VIX Rate of Change — Tracks how fast the VIX is moving. A falling VIX signals risk-on conditions (supportive of long scalps); a sharp VIX spike signals risk-off conditions (supportive of short scalps or standing aside).
NYSE TICK — Reads breadth in two ways: a smoothed general trend (mildly positive/negative), and extreme readings at user-defined thresholds (default ±800). Extreme readings can be interpreted either as continuation confirmation or exhaustion warnings, depending on which mode is selected.
How the score works
Each of the three components casts a vote of +1 (bullish), -1 (bearish), or 0 (neutral/mixed). The votes sum into a total score from -3 to +3, which maps to a label:
+2 to +3 → Strong Bullish
+1 → Lean Bullish
0 → Neutral / Mixed
-1 → Lean Bearish
-2 to -3 → Strong Bearish
This score and a breakdown of each component are displayed in a table on the chart, with an optional background tint that shifts color with the current bias.
How to interpret it
Use it as a filter, not a trigger — a Strong Bullish or Strong Bearish reading means the broader tape supports that direction, which is a better environment to act on your existing entry signals.
A Neutral/Mixed reading, or an active NQ divergence warning, suggests conditions are choppy or conflicting — a reasonable cue to reduce size or stand aside rather than force a scalp.
The three components are intentionally kept separate in the table (not just the total) so you can see which market is agreeing or disagreeing — for example, a bullish TICK reading with a bearish VIX spike is a very different situation than all three agreeing.
Because it's a confirmation layer, it works best combined with your existing price-action/divergence entries rather than used in isolation.
What this indicator does
This indicator gives ES scalpers a quick, at-a-glance read on whether broader market conditions support a bullish or bearish move, by combining three independent confirmation signals into a single composite score. It's designed to sit alongside your primary entry signals (RSI divergence, EMA cross, etc.) as a filter — not a standalone trade trigger.
The three components
NQ Trend Agreement — Compares the short-term rate of change of ES against NQ (Nasdaq futures). When both are moving the same direction, it's treated as confirmation. When they diverge (e.g., ES pushing higher while NQ lags or falls), it's flagged as a caution signal, since divergence often precedes stalls or reversals rather than clean continuation.
VIX Rate of Change — Tracks how fast the VIX is moving. A falling VIX signals risk-on conditions (supportive of long scalps); a sharp VIX spike signals risk-off conditions (supportive of short scalps or standing aside).
NYSE TICK — Reads breadth in two ways: a smoothed general trend (mildly positive/negative), and extreme readings at user-defined thresholds (default ±800). Extreme readings can be interpreted either as continuation confirmation or exhaustion warnings, depending on which mode is selected.
How the score works
Each of the three components casts a vote of +1 (bullish), -1 (bearish), or 0 (neutral/mixed). The votes sum into a total score from -3 to +3, which maps to a label:
+2 to +3 → Strong Bullish
+1 → Lean Bullish
0 → Neutral / Mixed
-1 → Lean Bearish
-2 to -3 → Strong Bearish
This score and a breakdown of each component are displayed in a table on the chart, with an optional background tint that shifts color with the current bias.
How to interpret it
Use it as a filter, not a trigger — a Strong Bullish or Strong Bearish reading means the broader tape supports that direction, which is a better environment to act on your existing entry signals.
A Neutral/Mixed reading, or an active NQ divergence warning, suggests conditions are choppy or conflicting — a reasonable cue to reduce size or stand aside rather than force a scalp.
The three components are intentionally kept separate in the table (not just the total) so you can see which market is agreeing or disagreeing — for example, a bullish TICK reading with a bearish VIX spike is a very different situation than all three agreeing.
Because it's a confirmation layer, it works best combined with your existing price-action/divergence entries rather than used in isolation.
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。