OPEN-SOURCE SCRIPT

Market Average Trend

This indicator aims to be complimentary to SPDR Tracker, but I've adjusted the name as I've been able to utilize the "INDEX" data provider to support essentially every US market.

This is a breadth market internal indicator that allows quick review of strength given the 5, 20, 50, 100, 150 and 200 simple moving averages. Each can be toggled to build whatever combinations are desired, I recommend reviewing classic combinations such as 5 & 20 as well as 50 & 200.

It's entirely possible that I've missed some markets that "INDEX" provides data for, if you find any feel free to drop a comment and I'll add support for them in an update.

Markets currently supported:

S&P 100
S&P 500
S&P ENERGIES
S&P INFO TECH
S&P MATERIALS
S&P UTILITIES
S&P FINANCIALS
S&P REAL ESTATE
S&P CON STAPLES
S&P HEALTH CARE
S&P INDUSTRIALS
S&P TELECOM SRVS
S&P CONSUMER DISC
S&P GROWTH
NAS 100
NAS COMP
DOW INDUSTRIAL
DOW COMP
DOW UTILITIES
DOW TRANSPORTATION
RUSSELL 1000
RUSSELL 2000
RUSSELL 3000

You can utilize this to watch stocks for dip buys or potential trend continuation entries, short entries, swing exits or numerous other portfolio management strategies.

If using it with stocks, it's advisable to ensure the stock often follows the index, otherwise obviously it's great to use with major indexes and determine holdings sentiment.

Important!
The "INDEX" data provider only supplies updates to all of the various data feeds at the end of day, I've noticed quite some delays even after market close and not taken time to review their actual update schedule (if even published). Therefore, it's strongly recommended to mostly ignore the last value in the series until it's the day after.

Only works on daily timeframes and above, please don't comment that it's not working if on other timeframes lower than daily :)

Feedback and suggestions are always welcome, enjoy!