Market Sentiment Fans [CosmonautC]

With these fans you can determine market sentiment.

Key assumption behind this is that traders are momentum focused so that majority of trades are in confluence with MA crosses.

Orange == Current trend is in bad condition and retail most likely in dire drawdown, capitulation

Red == Current trend is either flip floppy (chop) or approaching to go towards drawdown and push retail into heavy drawdown

Green == Choppy trend or approaching towards profitability for majority of retail traders

Lime (light green) = Majroity of retail in profit, euphoria

Added so you can change MA lookbacks, MA types, slope of the baseline as well as spread of the fan


Enjoy!