OPEN-SOURCE SCRIPT
Intraday Super Sectors
Aktualisiert
Motivated by Cody to finish what I'd started ...
This indicator plots the two 'Super Sectors' (Cyclical and Defensive) intraday change, viz-a-viz SPX price
* for convenience, it uses the ETF's, rather than the actual sectors. This might make it 0.0001% inaccurate.
For reference:
Defensive Sectors:
XLE Energy (not always considered a true defensive sector, but I've thrown it in here for balance)
XLP Consumer Staples
XLU Utilities
XLV Health Care
Cyclical Sectors:
XLB Materials
XLC Communication Services
XLF Financials
XLI Industrials
XLK Information Technology
XLRE Real Estate
XLY Consumer Discretionary
Why the (soft) red/green cloud?
Well, the theory says is that if the Cyclical Sector is down, while the Defensive Sector is up, this isn't exactly bullish (so a soft red cloud), or if Defensive Stocks are down, while Cyclical Stocks are up, this is perhaps bullish.
Of course, if SPX is down 10%, with Defensive Stocks down 20%, and Cyclical Stocks down 5%, you might get a green cloud, but it ain't exactly a bullish sign
This indicator plots the two 'Super Sectors' (Cyclical and Defensive) intraday change, viz-a-viz SPX price
* for convenience, it uses the ETF's, rather than the actual sectors. This might make it 0.0001% inaccurate.
For reference:
Defensive Sectors:
XLE Energy (not always considered a true defensive sector, but I've thrown it in here for balance)
XLP Consumer Staples
XLU Utilities
XLV Health Care
Cyclical Sectors:
XLB Materials
XLC Communication Services
XLF Financials
XLI Industrials
XLK Information Technology
XLRE Real Estate
XLY Consumer Discretionary
Why the (soft) red/green cloud?
Well, the theory says is that if the Cyclical Sector is down, while the Defensive Sector is up, this isn't exactly bullish (so a soft red cloud), or if Defensive Stocks are down, while Cyclical Stocks are up, this is perhaps bullish.
Of course, if SPX is down 10%, with Defensive Stocks down 20%, and Cyclical Stocks down 5%, you might get a green cloud, but it ain't exactly a bullish sign
Versionshinweise
New Features!* User can choose whether a sector is 'Cyclical' or 'Defensive'
* User can display spaghetti, if they really want!
Minor Bug Fix
* Small (display-related only) value fix
Versionshinweise
Updated to cater for main charts that show trading hours outside the regular cash session (e.g. ES1!)If you're just displaying SPX, no need to change these sessions
If you're displaying extended hours, please change the settings:
a) 'Extended Hours'
b) Is it Summer Time (daylight savings) or Winter Time?
Outside of the cash session, the indicator is dormant (don't worry - it'll come to life at 09:30!)
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
Möchten Sie dieses Skript auf einem Chart verwenden?
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