OPEN-SOURCE SCRIPT
Aggiornato SPY Breadth Buy Signal
This indicator identifies potential reversal opportunities in SPY by combining five key market conditions into a composite buy signal. It's designed for swing traders and position traders looking to catch relief rallies during oversold conditions.
Key Features:
🎯 Five-Condition Buy Filter:
Volume confirmation (≥150M shares)
VIX elevated (≥30) indicating fear in the market
Market breadth oversold (≤30% of S&P 500 stocks above 50-day SMA)
RSI oversold (≤30)
Slow Stochastic in extreme territory (<20)
The signal triggers when 4 out of 5 conditions are met—providing a balance between sensitivity and false-signal reduction.
How It Works:
Volume - Ensures SPY has institutional participation
VIX - Confirms market-wide volatility spikes (fear gauge)
Breadth - Detects when fewer than 30% of S&P 500 stocks trade above their 50-day moving average (extreme oversold)
RSI - Individual momentum indicator on SPY
Slow Stochastic - Smoothed stochastic %K for momentum confirmation
Display Elements:
Green upward triangle below the bar on signal confirmation
"BUY" label with green background highlight
Debug panel (top-right) showing real-time condition status and count
Customizable Inputs:
Adjust thresholds for all five conditions
Set minimum required conditions (1-5)
Toggle debug panel on/off
Select breadth index (MMFI, S5FI, SPXA50R)
Best Used With:
Daily timeframe (optimal)
As a filter/confirmation tool, not a standalone system
Combine with your own risk management and entry/exit rules
Key Features:
🎯 Five-Condition Buy Filter:
Volume confirmation (≥150M shares)
VIX elevated (≥30) indicating fear in the market
Market breadth oversold (≤30% of S&P 500 stocks above 50-day SMA)
RSI oversold (≤30)
Slow Stochastic in extreme territory (<20)
The signal triggers when 4 out of 5 conditions are met—providing a balance between sensitivity and false-signal reduction.
How It Works:
Volume - Ensures SPY has institutional participation
VIX - Confirms market-wide volatility spikes (fear gauge)
Breadth - Detects when fewer than 30% of S&P 500 stocks trade above their 50-day moving average (extreme oversold)
RSI - Individual momentum indicator on SPY
Slow Stochastic - Smoothed stochastic %K for momentum confirmation
Display Elements:
Green upward triangle below the bar on signal confirmation
"BUY" label with green background highlight
Debug panel (top-right) showing real-time condition status and count
Customizable Inputs:
Adjust thresholds for all five conditions
Set minimum required conditions (1-5)
Toggle debug panel on/off
Select breadth index (MMFI, S5FI, SPXA50R)
Best Used With:
Daily timeframe (optimal)
As a filter/confirmation tool, not a standalone system
Combine with your own risk management and entry/exit rules
Note di rilascio
minor update removing SPXA50RScript open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.