Nico Mega Cap Dashboard + RSI Indicator Description: Mega Cap Dashboard + RSI (True TV Daily %)
This is a multi-symbol intraday leadership dashboard designed to monitor four major Nasdaq drivers directly on your main chart:
NVDA
MSFT
AAPL
META
It provides real-time visibility into price, daily performance, and momentum strength — all in a compact table overlay.
Core Components
1️⃣ Current Price
Displays the live close price of each stock based on your active chart timeframe (30s, 1m, 5m, etc.).
This allows you to see immediate price positioning without switching charts.
2️⃣ True Daily % Change (Matches TradingView)
Daily % is calculated correctly as:
(Current Price − Previous Daily Close) / Previous Daily Close × 100
This matches:
TradingView watchlist “Day %”
Broker daily performance
Market scanners
Color logic:
Green → Positive on the day
Red → Negative on the day
This gives you instant directional bias.
3️⃣ RSI (Relative Strength Index)
Default length: 14 (adjustable)
RSI is calculated on the same timeframe as your active chart.
Color logic:
Red → RSI > 70 (Overbought)
Lime → RSI < 30 (Oversold)
White → Neutral zone
This provides momentum and exhaustion context.
What This Indicator Is Designed For
This tool functions as a Nasdaq internal strength monitor.
Because NVDA, MSFT, AAPL, and META heavily influence:
QQQ
NQ futures
Nasdaq index movement
You can quickly determine:
Are market leaders aligned?
Is momentum broad-based or isolated?
Is QQQ strength supported internally?
Is the move extended or building?
Practical Trading Applications
1️⃣ Trend Confirmation
If:
3–4 stocks are green on the day
RSI values are above 50
→ Higher probability of continuation bias in QQQ/NQ.
2️⃣ Weak Internal Structure
If:
QQQ is pushing highs
But 2–3 leaders are red or RSI < 50
→ Potential divergence or fake breakout.
3️⃣ Exhaustion Detection
If multiple stocks show:
RSI > 70
Extended daily %
→ Increased probability of pullback or rotation.
4️⃣ Scalping Alignment (30s–2min)
Before entering a trade:
Check if leadership is aligned with your direction.
Avoid trades when dashboard shows mixed signals.
Technical Structure
The script uses:
request.security() for cross-symbol data retrieval
Daily timeframe previous close for accurate day %
Real-time intraday RSI calculation
table.new() for structured UI display
Overlay rendering (top-right of main chart)
It updates dynamically with each new bar.
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