NAS100 Component Sentiment Scanner

# NAS100 Component Sentiment Scanner

## 🎯 Overview
The NAS100 Component Sentiment Scanner analyzes the top-weighted stocks in the NASDAQ-100 index to provide real-time bullish/bearish sentiment signals that can help predict NAS100 price movements. This indicator combines multiple technical analysis methods to give traders a comprehensive view of underlying market sentiment.

## 📊 How It Works
The indicator calculates sentiment scores for major NASDAQ-100 components (AAPL, MSFT, NVDA, GOOGL, AMZN, META, TSLA, AVGO, COST, NFLX) using:

- **RSI Analysis**: Identifies overbought/oversold conditions
- **Moving Average Trends**: Compares fast vs slow MA positioning
- **Volume Confirmation**: Validates moves with volume thresholds
- **Price Momentum**: Analyzes recent price direction
- **Market Cap Weighting**: Uses actual NASDAQ-100 weightings for accuracy

## 🚀 Key Features

### Real-Time Sentiment Analysis
- Weighted composite score based on individual stock analysis
- Color-coded sentiment line (Green = Bullish, Red = Bearish)
- Dynamic background coloring for strong signals

### Interactive Data Table
- Shows individual stock scores and signals
- Bullish/Bearish stock count summary
- Customizable position and size

### Smart Signal System
- **Bullish Signals**: Green triangle up when sentiment crosses threshold
- **Bearish Signals**: Red triangle down when sentiment falls below threshold
- **Alert Conditions**: Automatic notifications for signal changes

## ⚙️ Customization Options

### Technical Analysis Settings
- **RSI Period**: Adjust lookback period (default: 14)
- **RSI Levels**: Set overbought/oversold thresholds
- **Moving Averages**: Configure fast/slow MA periods
- **Volume Threshold**: Set volume confirmation multiplier

### Signal Thresholds
- **Bullish/Bearish Levels**: Customize trigger points
- **Strong Signal Levels**: Set extreme sentiment thresholds
- Fine-tune sensitivity to market conditions

### Display Options
- **Toggle Table**: Show/hide sentiment data table
- **Table Position**: 6 position options (Top/Bottom/Middle + Left/Right)
- **Table Size**: Choose from Tiny, Small, Normal, or Large
- **Background Colors**: Enable/disable signal backgrounds
- **Signal Arrows**: Show/hide buy/sell indicators

### Stock Selection
- **Individual Control**: Enable/disable any of the 10 major stocks
- **Dynamic Weighting**: Automatically adjusts calculations based on selected stocks
- **Flexible Analysis**: Focus on specific sectors or market leaders

## 📈 How to Use

### 1. Basic Setup
1. Add the indicator to your NAS100 chart
2. Default settings work well for most traders
3. Observe the sentiment line and signals

### 2. Signal Interpretation
- **Score > 30**: Bullish bias for NAS100
- **Score > 50**: Strong bullish signal
- **Score -30 to 30**: Neutral/consolidation
- **Score < -30**: Bearish bias for NAS100
- **Score < -50**: Strong bearish signal

### 3. Trading Strategies

**Trend Following:**
- Buy NAS100 when bullish signals appear
- Sell/short when bearish signals trigger
- Use background colors for quick visual confirmation

**Divergence Trading:**
- Watch for sentiment/price divergences
- Strong sentiment with weak NAS100 price = potential breakout
- Weak sentiment with strong NAS100 price = potential reversal

**Consensus Trading:**
- Monitor bullish/bearish stock counts in table
- 8+ stocks aligned = strong directional bias
- Mixed signals = wait for clearer consensus

### 4. Advanced Usage
- Combine with your existing NAS100 trading strategy
- Use multiple timeframes for confirmation
- Adjust thresholds based on market volatility
- Focus on specific stocks by disabling others

## 🔔 Alert Setup
The indicator includes built-in alert conditions:
1. Go to TradingView Alerts
2. Select "NAS100 Component Sentiment Scanner"
3. Choose from available alert types:
- NAS100 Bullish Signal
- NAS100 Bearish Signal
- Strong Bullish Consensus
- Strong Bearish Consensus

## 💡 Pro Tips

### Optimization
- **High Volatility**: Increase signal thresholds (±40, ±60)
- **Low Volatility**: Decrease thresholds (±20, ±40)
- **Day Trading**: Use smaller table, focus on real-time signals
- **Swing Trading**: Enable background colors, larger thresholds

### Best Practices
- Don't use as a standalone system - combine with price action
- Check individual stock table for context
- Monitor during market open for most reliable signals
- Consider earnings seasons for individual stock impacts

### Market Conditions
- **Trending Markets**: Higher accuracy, use with trend following
- **Ranging Markets**: Watch for false signals, increase thresholds
- **News Events**: Individual stock news can skew sentiment temporarily

## 🎨 Visual Guide
- **Green Line Above Zero**: Bullish sentiment building
- **Red Line Below Zero**: Bearish sentiment building
- **Background Color Changes**: Strong signal confirmation
- **Triangle Arrows**: Entry/exit signal points
- **Table Colors**: Quick sentiment overview

## ⚠️ Important Notes
- This indicator analyzes component stocks, not NAS100 directly
- Market cap weightings approximate real NASDAQ-100 weightings
- Sentiment can change rapidly during volatile periods
- Always use proper risk management
- Combine with other technical analysis tools

## 🔧 Troubleshooting
- **No signals**: Check if thresholds are too extreme
- **Too many signals**: Increase threshold sensitivity
- **Table not showing**: Ensure "Show Sentiment Table" is enabled
- **Missing stocks**: Verify individual stock toggles in settings

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**Suitable for**: Day traders, swing traders, NAS100 specialists, index traders
**Best Timeframes**: 5min, 15min, 1H, 4H
**Market Sessions**: US market hours for highest accuracy