PROTECTED SOURCE SCRIPT
AD Line of S&P Sectors
Advance-Decline Line of S&P 500 Sectors
This indicator tracks the breadth strength of the S&P 500 by combining an unweighted Advance-Decline (A/D) Line and a market-cap weighted A/D Histogram across all 11 major S&P sectors.
Key Features
Sector A/D Histogram: Measures sector breadth based on whether each sector advanced or declined, then weights it by its current estimated market cap share.
Unweighted A/D Line: Smooth average of sectors equally weighted, giving an alternative breadth view that’s less biased by large sectors.
Top Weighted Stocks Tracker: Tracks the daily percentage change of the top 10 highest-weighted S&P 500 stocks, scaled by their index weights, and overlays them as a background area plot.
Zero Crossovers: Histogram and line crossing zero can help highlight broadening strength or weakness.
Customizable Sector Weights: Sector weights can be adjusted in the settings. It is recommended to review and update these periodically to reflect changes in S&P sector allocations.
Repaint Option: Uses a user-selectable repaint mode for flexible bar update logic.
How to Use
Trend Confirmation: When the weighted histogram and unweighted line are above zero together, it indicates broad sector strength; below zero suggests broad weakness.
Neutral Zone: Values between +0.5 and -0.5 (or your custom thresholds) may imply a ranging market or slower movement.
Top Names Context: The top-weighted stocks area shows how much the index’s largest components are pulling the market up or down, relative to the broader sector breadth.
⚠️ Disclaimer
This script is for educational and informational purposes only and does not constitute financial advice. Always do your own research and consult with a qualified financial professional before making trading decisions. Use at your own risk.
This indicator tracks the breadth strength of the S&P 500 by combining an unweighted Advance-Decline (A/D) Line and a market-cap weighted A/D Histogram across all 11 major S&P sectors.
Key Features
Sector A/D Histogram: Measures sector breadth based on whether each sector advanced or declined, then weights it by its current estimated market cap share.
Unweighted A/D Line: Smooth average of sectors equally weighted, giving an alternative breadth view that’s less biased by large sectors.
Top Weighted Stocks Tracker: Tracks the daily percentage change of the top 10 highest-weighted S&P 500 stocks, scaled by their index weights, and overlays them as a background area plot.
Zero Crossovers: Histogram and line crossing zero can help highlight broadening strength or weakness.
Customizable Sector Weights: Sector weights can be adjusted in the settings. It is recommended to review and update these periodically to reflect changes in S&P sector allocations.
Repaint Option: Uses a user-selectable repaint mode for flexible bar update logic.
How to Use
Trend Confirmation: When the weighted histogram and unweighted line are above zero together, it indicates broad sector strength; below zero suggests broad weakness.
Neutral Zone: Values between +0.5 and -0.5 (or your custom thresholds) may imply a ranging market or slower movement.
Top Names Context: The top-weighted stocks area shows how much the index’s largest components are pulling the market up or down, relative to the broader sector breadth.
⚠️ Disclaimer
This script is for educational and informational purposes only and does not constitute financial advice. Always do your own research and consult with a qualified financial professional before making trading decisions. Use at your own risk.
Korumalı komut dosyası
Bu komut dosyası kapalı kaynak olarak yayınlanmaktadır. Ancak, özgürce ve herhangi bir sınırlama olmaksızın kullanabilirsiniz – daha fazla bilgi burada.
Futures analysis focused on our Weighted Greeks Exposure Profile, AMT, VWAP & dealer positioning mechanics
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Korumalı komut dosyası
Bu komut dosyası kapalı kaynak olarak yayınlanmaktadır. Ancak, özgürce ve herhangi bir sınırlama olmaksızın kullanabilirsiniz – daha fazla bilgi burada.
Futures analysis focused on our Weighted Greeks Exposure Profile, AMT, VWAP & dealer positioning mechanics
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.