ADI Market Internals Matrix

24. Apr. 2024

Usage

This script is designed for use during market hours but is particularly useful in the last trading hour—a period known for increased volatility and volume as traders close positions and make final decisions for the day.
Trend Analysis

The histogram provides a quick visual reference for the market's direction based on ADD and $VOLSPD. A predominance of green bars suggests a bullish trend, while red bars indicate bearish conditions based on the BIAS EMA.
Volatility Assessment

The VIX label gives a quick glance at the user-inputted VIX pivot, aiding in volatility assessment and bias determination.
Features

VIX Label: Changes color (red/green) to indicate a bullish or bearish bias based on the user's input for the VIX pivot.
EMA Calculations: Calculates the EMAs for ADD and $VOLSPD based on custom input, which helps determine the market trend.
Trend Determination: Identifies the close value of ADD and $VOLSPD and whether they are above or below their respective EMAs.
Loopback Period: Calculates how far to look back to determine the trend, adjustable by the user.
Market Hours Control: Includes an input (startTime) for specifying when the histogram should start and end (9:30 AM to 4:00 PM EST).

Histogram Coloring

Green: Indicates a bullish trend (above the specified EMA length).
Red: Indicates a bearish trend (below the specified EMA length).
Gray: Indicates a neutral trend.

Customization

Users can adjust the script's sensitivity by changing the length for the EMAs, vixThreshold, startTime, and loopbackPeriod to fit their trading style or market conditions.
Note

Always use this tool in conjunction with other technical analysis tools and ensure proper risk management strategies are employed.

28. Apr. 2024

Versionshinweise

- V1.1) Added an option to select (NYSE - ADD/VOLD) or (NASDAQ - ADDQ/VOLDQ). NYSE is default.

- Fixed and improved histogram representation (Histogram bars are not capped anymore)

26. Mai 2024

Versionshinweise

- Fixed a lot of things making the histograms more easily readable in terms of weakness/strength.

4. Juni 2024

Versionshinweise

- In the last hour of trading, the script now colors the histogram bars based on the VIX trend:

Magenta: Indicates the VIX is falling, signaling decreasing market volatility.
Dark Red: Indicates the VIX is rising, signaling increasing market volatility.

10. Juni 2024

Versionshinweise

- Added the option to be able to toggle the VIX trend.


- If you trade futures. Use these settings:

Start Time for Market Hours: "830"
End Time for Market Hours: "1500"
Last Hour Start Time For Market Hours: "1357"