OPEN-SOURCE SCRIPT
Aura Breadth Thrust Oscillator [Pineify]
Aura Breadth Thrust Oscillator [Pineify]
Aura Breadth Thrust Oscillator measures market participation by dividing advancing issues by total advancing plus declining issues, then smoothing the ratio with a 10-period EMA. It borrows from Zweig breadth thrust analysis, but its signals are threshold crosses, not the full classic timed thrust rule.
Key Features
How It Works
For NYSE, the script requests NYSE:AADV and NYSE:$DEC. For NASDAQ, it requests NASDAQ:AADVQ and NASDAQ:$DECQ. It builds a breadth ratio from 0 to 100, then applies a 10-period EMA.
If external breadth is missing, proxy mode counts up candles as advancing and down candles as declining. Proxy readings are useful context, but they are not exchange-wide breadth.
How the Components Work Together
The ratio supplies participation context, the EMA filters noise, and the thresholds define zones. The table matters because external signals describe broad participation, while proxy signals only describe the current chart.
Trading Ideas and Insights
This is a context tool, not a complete system. Breadth can lag during fast reversals, and proxy mode is approximate.
Unique Aspects
How to Use
Customization
Conclusion
Aura Breadth Thrust Oscillator gives a compact read on participation behind index moves, breakouts, and reversals. Read each signal with the active data source.
Aura Breadth Thrust Oscillator measures market participation by dividing advancing issues by total advancing plus declining issues, then smoothing the ratio with a 10-period EMA. It borrows from Zweig breadth thrust analysis, but its signals are threshold crosses, not the full classic timed thrust rule.
Key Features
- Requests NYSE or NASDAQ advance/decline data when available.
- Uses a rolling price-action proxy when breadth symbols are unavailable.
- Shows a gradient oscillator, zones, markers, alerts, and source table.
How It Works
For NYSE, the script requests NYSE:AADV and NYSE:$DEC. For NASDAQ, it requests NASDAQ:AADVQ and NASDAQ:$DECQ. It builds a breadth ratio from 0 to 100, then applies a 10-period EMA.
- Advancing issues are compared with total advancing plus declining issues.
- The smoothed ratio becomes the Aura Breadth oscillator.
- Crosses above 61.5 mark bullish participation. Crosses below 40 mark breadth weakness.
If external breadth is missing, proxy mode counts up candles as advancing and down candles as declining. Proxy readings are useful context, but they are not exchange-wide breadth.
How the Components Work Together
The ratio supplies participation context, the EMA filters noise, and the thresholds define zones. The table matters because external signals describe broad participation, while proxy signals only describe the current chart.
Trading Ideas and Insights
- A cross above 61.5 may be useful after a weak range, especially if price is reclaiming structure.
- A move below 40 may show selling pressure or exhaustion; waiting for stabilization can reduce whipsaw risk.
- If price rises while breadth fails near the midline, participation may be narrowing.
This is a context tool, not a complete system. Breadth can lag during fast reversals, and proxy mode is approximate.
Unique Aspects
- External breadth is preferred automatically, with proxy mode used only when feeds are invalid.
- The active data source is shown directly in the pane.
How to Use
- Choose NYSE or NASDAQ, then check the table's active source.
- Watch crosses around 61.5 and 40, using 50 as a midpoint.
- Use the built-in alerts for bullish thrust or breadth breakdown crosses.
Customization
- Market Data Exchange (default: NYSE) - Selects the breadth universe.
- Proxy Lookback Period (default: 20) - Higher values smooth proxy mode.
- Bullish Thrust Level (default: 61.5) - Adjusts the bullish threshold.
- Oversold Level (default: 40.0) - Adjusts the weakness threshold.
Conclusion
Aura Breadth Thrust Oscillator gives a compact read on participation behind index moves, breakouts, and reversals. Read each signal with the active data source.
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.
🚀🚀🚀 Pineify - pineify.app
Essential Toolkit for Every Trader
- AI Pine Script Generator
- Finance AI Agent
- AI Stock Picker
- Pine Script Visual Editor
- Invited indicators
- Strategy Optimizer
- Trading Journal
- Backtest Report
Essential Toolkit for Every Trader
- AI Pine Script Generator
- Finance AI Agent
- AI Stock Picker
- Pine Script Visual Editor
- Invited indicators
- Strategy Optimizer
- Trading Journal
- Backtest Report
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.
🚀🚀🚀 Pineify - pineify.app
Essential Toolkit for Every Trader
- AI Pine Script Generator
- Finance AI Agent
- AI Stock Picker
- Pine Script Visual Editor
- Invited indicators
- Strategy Optimizer
- Trading Journal
- Backtest Report
Essential Toolkit for Every Trader
- AI Pine Script Generator
- Finance AI Agent
- AI Stock Picker
- Pine Script Visual Editor
- Invited indicators
- Strategy Optimizer
- Trading Journal
- Backtest Report
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.