Download the file below and move it to your Dashboard folder so you can open it in your VAI app. If you want to combine this gauge with your other dashboard, you have to copy paste the market breadth script to your original dashboard's script and also copy all the calculated fields and settings.
You know what they say, "a rising tide raises all boats". This is also true when it comes to markets and we wanted to have an indicator that shows whether a bullish sentiment is present or not.
Why not just look at the PSEi? Depending solely on the PSEi for a feel for sentiment can sometimes be misleading since a few big names can easily push the index higher, while the general market is actually weakening!
So the way we check market health (aka. tide level), is to count the number of stocks trading above its averages against all of the actively traded stocks. We use the 50 day SMA to check for medium term strength and the 200 day SMA for a longer strength check
If the majority of companies are trading above its SMA, then we say that the market is bullish and healthy and that the uptrend may persist! A consolidating market would show the gauge playing around 50% and lastly, the lower the gauge level, the weaker the market.
What this gauge is not, is a timing tool. Use this gauge as a supplement to your strategy, it can help you decide on whether to hold a winner (high gauge score) or aggressively protect profits (low gauge score).
2kb file size lang po ba ito? at saka error po pag extract ng file ayaw mag tuloy
pjm