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Add NASDAQ Cumulative New Highs New Lows breadth indicator

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moshferatu 2024-07-03 12:18:55 -07:00
parent fb60515e1f
commit 46fe64f59c
1 changed files with 18 additions and 0 deletions
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nasdaq_cumulative_new_highs_new_lows.pine Normal file
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//@version = 5
indicator("NASDAQ Cumulative New Highs New Lows", overlay = true)
var cumulativeNewHighsLows = float(na)
newHighs = request.security("HIGQ", "D", close)
newLows = request.security("LOWQ", "D", close)
newHighsLows = nz(cumulativeNewHighsLows) + (newHighs - newLows)
cumulativeNewHighsLows := newHighsLows
mean = ta.sma(cumulativeNewHighsLows, 252)
stdev = ta.stdev(cumulativeNewHighsLows, 252)
zScore = (cumulativeNewHighsLows - mean) / stdev
plot(zScore)
regimeColor = zScore > 0 ? color.green : color.red
bgcolor(color.new(regimeColor, transp = 75))