Market Width: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.

Overview

Market Width automatically detects the main chart symbol and switches to the corresponding index ticker such as S&P or NDX, or allows manual selection when auto switch is disabled. Each percentage is displayed as a separate line in a dedicated pane with distinct colors. Input controls enable or disable individual periods and adjust horizontal reference lines. The tool provides market breadth analysis for stocks and indices traders.

market breadth
percentage above MA
auto symbol switch
separate pane plots
multi period levels

Details

Published by

iceberg211 on GitHub

Type

Indicator, Pine Script v4

Draws

Separate pane below the chart

Markets

Stocks, Indices

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

pine/市场宽度v4.pine

Repository

github.com/iceberg211/pine. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Auto switch with the main chart symbol [coverage: 'SPX'=S&P; 'NDX'=NQ100; 'IXIC'=NQ Comp; 'DJI'=Dow Indu; 'RUI'=Rus1000	`bool`	`true`	`auto1`
select Market manually when above 'Auto-switch' box is unchecked	`string`	`S&P`	`mk2`
% of stocks above 20 day	`bool`	`true`	`show1`
% of stocks above 50 day	`bool`	`true`	`show2`
% of stocks above 200 day	`bool`	`true`	`show3`
% of stocks above 5 day	`bool`	`false`	`show5`
% of stocks above 100 day	`bool`	`true`	`show4`
% of stocks above 150 day	`bool`	`false`	`show6`
horizontal reference line 1	`int`	`80`	`line_m`
horizontal reference line 2	`int`	`20`	`line_m1`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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