SPX Intraday Mood Indicator

The SPX Intraday Mood Indicator tries to gauge the intraday market direction of the S&P 500 (SPX) by focusing on internal market data.
Based on the 0DTE Mood Indicator concept. Overall strength/weakness is converted into a directional Mood Percentage which can help with choosing a trade type.
Use at your own risk and discretion. Potential trade ideas offer no guarantees. Intraday Charts Only. Turn off extended hours data. Only works on SPX.
This first version is untested and I am only sharing it to gather feedback on its accuracy, use at your own risk.

הערות שחרור:

Fixed many of the issues in the initial release. I now feel like this is mostly correct. Note that it uses NYSE internal data and not S&P data due to limitations from TradingView. I'm hoping it's a good proxy.

הערות שחרור:

For some reason the previous upload was of a previously saved version by mistake.

הערות שחרור:

Swapped out the Sector Pull for Highly Weighted Pull - Uses a weighted average of the 10 highest market cap stocks in the S&P and calculates the difference between their net change and the net change of the entire index. Heavily weighted stocks tend to control the direction of the index, either extending gains and losses or holding it within the current range.

הערות שחרור:

The heavily weighted pull was not displaying as I had intended in the last script. This new one does - it is the weighted average of the top 10 stocks in the S&P minus the S&P itself. So the % difference you see in the dashboard is apples-to-apples.

הערות שחרור:

Updating to Pine v5, redefining the heavily weighted stocks, and making it simpler for updating heavily weighted stocks in the future.

הערות שחרור:

Updated the weights for the top 10 heavily weighted stocks and pulled them into the input box so the user can update these themselves without having to wait for me to push code with updated weights.

הערות שחרור:

Fixed an error in how the weights were displayed in the input dialog.

הערות שחרור:

Updated top 10 stocks in S&P 500.
Added a cell for VIX in the dashboard to keep an eye on VIX right from within the indicator.