This indicator provides breadth ratios for various indices/exchanges based on the up/down volume.
Breadth ratios included for NYSE, NASDAQ, AMEX, DJIA, ARCA, and and average.
Very straight forward to use, if the ratios is above 2, stocks should be in uptrend, below -2 stocks should trend down. In between 2 and -2 is going to be a choppy market.
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-Minor format changes
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--Fixed format label
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Added conditional coloring to breadth histogram
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Adjusted the default line and histogram width
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-Added user input for the threshold that will flip the breadth histogram from grey to red/green when the momentum/trend ratio passes the threshold.
thanks for sharing the script. the histogram changes from gray to positive or negative color at 2.0 / -2.0. I know 2.0 is considered by some to be strong enough to indicate trend, but I prefer a little higher ratio, like 2.5:1 or 3:1 - would you consider making that setting user editable?
Wheeelman
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@joelhwilliams, sure thing! Ill try to change it this week when Im near a computer.