OPEN-SOURCE SCRIPT
market sentiment
This code acts as a Market Momentum & Intensity Tracker. It converts raw price and volume data into a clear "Mood Dashboard" to help you identify the strength of a trend.
Simple Breakdown of What the Code Does:
* Data Extraction:
It automatically pulls data (Price and Volume) for the asset you select from the menu, such as NIFTY, BANKNIFTY, CNXFINANCE, or HDFCBANK, regardless of which chart you are currently viewing.
* The "Intensity" Logic:
The code calculates a Speed Ratio. It compares today's Candle Body Size and Trading Volume against their 20-day averages.
* High Ratio (> 2.0): Means the move is twice as strong as usual (Institutional activity).
* Low Ratio (< 1.2): Means the move is weak or standard (Retail activity).
* Classification into 6 Stages:
Based on the color of the candle (Red for Selling, Green for Buying) and the Speed Ratio, it classifies the market into 6 specific "Sentiments":
* Stage 1 (Heavy): Panic selling or aggressive FOMO buying.
* Stage 2 (Normal): A steady, healthy trend.
* Stage 3 (Low): Exhaustion; the move is slowing down or stabilizing.
* Visual Dashboard:
It creates a clean, customizable table on your chart showing the last 7 days of data. This allows you to see at a glance if the market is shifting from "Panic Selling" to "Stable Buying."
The Main Benefit:
It filters out "Market Noise." By looking at the Sentiment column, you can avoid "catching a falling knife" during Heavy Selling or chasing a rally that has already reached Low Buying (Exhaustion) levels.
In short: It tells you not just where the price is going, but with how much force it is moving.
Simple Breakdown of What the Code Does:
* Data Extraction:
It automatically pulls data (Price and Volume) for the asset you select from the menu, such as NIFTY, BANKNIFTY, CNXFINANCE, or HDFCBANK, regardless of which chart you are currently viewing.
* The "Intensity" Logic:
The code calculates a Speed Ratio. It compares today's Candle Body Size and Trading Volume against their 20-day averages.
* High Ratio (> 2.0): Means the move is twice as strong as usual (Institutional activity).
* Low Ratio (< 1.2): Means the move is weak or standard (Retail activity).
* Classification into 6 Stages:
Based on the color of the candle (Red for Selling, Green for Buying) and the Speed Ratio, it classifies the market into 6 specific "Sentiments":
* Stage 1 (Heavy): Panic selling or aggressive FOMO buying.
* Stage 2 (Normal): A steady, healthy trend.
* Stage 3 (Low): Exhaustion; the move is slowing down or stabilizing.
* Visual Dashboard:
It creates a clean, customizable table on your chart showing the last 7 days of data. This allows you to see at a glance if the market is shifting from "Panic Selling" to "Stable Buying."
The Main Benefit:
It filters out "Market Noise." By looking at the Sentiment column, you can avoid "catching a falling knife" during Heavy Selling or chasing a rally that has already reached Low Buying (Exhaustion) levels.
In short: It tells you not just where the price is going, but with how much force it is moving.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.