OPEN-SOURCE SCRIPT
MM Sector Intraday Tracker
What this script does:
This script tracks the percent that price has moved from the opening print of each of the 9 sector ETFs. It color codes the values so you can see which sectors are down (red color) and which sectors are up (green color). If a sector is only up or down half of one ATR, it the color will be light, but if it is beyond half of one ATR, it is a darker color.
How this script works:
It simply measures the distance that price has moved from the opening print today, and presents that information in an easy to read table on your chart.
How to use this script:
If all sectors are moving in one direction, it indicates that the entire market is in a trend day in that direction. You can use this information to decide which direction you should be trading (ie. with trend). For example, in order for there to be healthy bullish moves in the market, you would want this indicator to show you that all sectors are green, or at least that some sectors are green, which would indicate that there is healthy rotation of capital across the market sectors.
What makes this script original:
Most indicators and even the TradingView watchlist measure the percent changed on the day from the closing price of a stock on the prior trading day, essentially telling you what sentiment is since yesterday. This script tells you the sentiment today since it is priced from the opening print.
This script tracks the percent that price has moved from the opening print of each of the 9 sector ETFs. It color codes the values so you can see which sectors are down (red color) and which sectors are up (green color). If a sector is only up or down half of one ATR, it the color will be light, but if it is beyond half of one ATR, it is a darker color.
How this script works:
It simply measures the distance that price has moved from the opening print today, and presents that information in an easy to read table on your chart.
How to use this script:
If all sectors are moving in one direction, it indicates that the entire market is in a trend day in that direction. You can use this information to decide which direction you should be trading (ie. with trend). For example, in order for there to be healthy bullish moves in the market, you would want this indicator to show you that all sectors are green, or at least that some sectors are green, which would indicate that there is healthy rotation of capital across the market sectors.
What makes this script original:
Most indicators and even the TradingView watchlist measure the percent changed on the day from the closing price of a stock on the prior trading day, essentially telling you what sentiment is since yesterday. This script tells you the sentiment today since it is priced from the opening print.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
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