OPEN-SOURCE SCRIPT

Benchmark Above MA Signal

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Benchmark Above MA Signal (Configurable Visual)
This tool provides a simple ON/OFF signal showing whether a selected benchmark asset (e.g., SPY, BTC, QQQ, etc.) is currently trading above a specified moving average.

🔧 Customizable Settings:

Choose the benchmark symbol

Set the timeframe (e.g., daily, 4H, weekly)

Select SMA or EMA type

Define the MA length (e.g., 21, 50, 200)

Pick between two display modes:

Stepline (default): plots a clean binary signal in the lower pane

Background Only: visually highlights confluence periods without a line plot

✅ Ideal for macro filters, trend confirmation, or dashboard-style layouts
📊 Common use case: staying aware of the daily trend of SPY while trading lower intraday timeframes

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