BIST30 % Above Moving Average (Breadth)

BIST30 % Above Moving Average (Breadth)

This indicator shows the percentage of BIST30 stocks trading above a selected moving average.
It is a market breadth tool, designed to measure the overall health and participation of the market.

How it works

By default, it uses the 50-day SMA.

You can switch between SMA/EMA and choose different periods (5 / 20 / 50 / 200).

The script checks each BIST30 stock individually and counts how many are closing above the chosen MA.

Interpretation

Above 80% → Overbought zone (short-term correction likely).

Below 20% → Oversold zone (potential rebound).

Around 50% → Neutral / indecisive market.

If the index (BIST:XU030) rises while this indicator falls → the rally is narrow-based, led by only a few stocks (a warning sign).

Use cases

Short-term traders → Use MA=5 or 20 for momentum signals.

Swing / Medium-term investors → Use MA=50 for market health.

Long-term investors → Use MA=200 to track bull/bear market cycles.

Notes

This script covers only BIST30 stocks by default.

The list can be updated for BIST100 or specific sectors (e.g., banks, industrials).

Breadth indicators should not be used as standalone buy/sell signals — combine them with price action, volume, and other technical tools for confirmation.