OPEN-SOURCE SCRIPT
Internals Elite NASDAQ
Internals Elite NASDAQ Indicator: Overview and Functionality
Overview:
The Internals Elite NASDAQ indicator is a market breadth tool designed for **NASDAQ market internals analysis**. It provides traders with a **table-based visualization** of various key market metrics that help gauge overall market strength, sentiment, and momentum.
Key Features and What It Does:
The indicator fetches and displays **real-time market internals** by monitoring various breadth indicators, price action, and macroeconomic influences. It presents this data in a **color-coded table overlay** that updates dynamically to reflect changes in market sentiment.
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Market Internals Monitored:
1. TICK Index (TICKQ)
- Measures short-term market sentiment by tracking the number of advancing vs. declining stocks at a given moment.
- Green: Strong positive sentiment (above threshold).
- Red: Weak sentiment (below threshold).
2. Advance-Decline Line (ADDQ) & Moving Average Sentiment
- Tracks the net difference between advancing and declining stocks on the NASDAQ.
- EMA-Based Trend Signal:
- Uses a 10-period EMA to smooth ADDQ values and identify trends.
- Rising EMA suggests broad market strength (bullish momentum).
- Falling EMA** indicates market weakness** (bearish pressure).
- Directional Arrow System:
- 📈 Rising → Market internals improving (bullish).
- 📉 Falling → Weakening breadth (bearish).
3. VIX (Volatility Index) & EMA Sentiment
- Measures market volatility and risk sentiment.
- EMA-Based VIX Trend Analysis:
- Uses a 10-period EMA to track VIX momentum.
- Falling VIX EMA → Market stability & bullish sentiment.
- Rising VIX EMA → Increased fear & bearish conditions.
- Color-Coded Risk Levels:
- Green: Low VIX (market confidence).
- Orange: Neutral/transition phase.
- Red: High VIX (risk-off environment).
4. VWAP Deviation (% Above VWAP)
- Indicates how many stocks are trading above or below the VWAP (Volume Weighted Average Price).
- Used for tracking institutional activity and potential market reversals.
5. M7 VWAP (Mega-Cap 7 VWAP)
- Tracks VWAP levels for AAPL, MSFT, GOOGL, AMZN, META, NVDA, TSLA.
- Indicates whether **major tech stocks** are supporting or dragging the market.
6. Dollar Index (DXY)
- Measures the strength of the U.S. Dollar relative to other currencies.
- Impacts NASDAQ stocks as a weaker dollar tends to benefit tech stocks.
7. US 10-Year Treasury Yield (US10Y)
- Tracks interest rate trends, which influence market liquidity and risk appetite.
8. Bitcoin Price (BTCUSD)
- Cryptocurrency correlation tracking; used as a speculative risk indicator.
9. QQQ Price & Change (%)
- The performance of the *ASDAQ-100 ETF (QQQ) for broader index trend confirmation.
10. Current Ticker Price Change (%)
- Shows the **percentage change** of the selected stock relative to its previous close.
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### How It Helps Traders:
✅ Identifies Trend Strength → Using EMA-based ADDQ & VIX signals for sentiment confirmation.
✅ Detects Market Turning Points → Through TICKQ, VWAP deviation, and M7 VWAP.
✅ Tracks Institutional Activity→ Watching whether mega-cap tech stocks are supporting the market.
✅ Measures Risk Appetite → By integrating VIX, DXY, US10Y, and BTC into the analysis.
✅ Provides Macro Confirmation → Understanding if external factors (like bond yields) are impacting NASDAQ moves.
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Final Summary:
The Internals Elite NASDAQ is a market internals dashboard that consolidates essential breadth, volatility, macro, and risk indicators into a single view. By incorporating EMA-based trend tracking for ADDQ and VIX, the indicator helps traders confirm bullish or bearish sentiment shifts and make data-driven trading decisions.
Would you like any additional refinements? 🚀
Overview:
The Internals Elite NASDAQ indicator is a market breadth tool designed for **NASDAQ market internals analysis**. It provides traders with a **table-based visualization** of various key market metrics that help gauge overall market strength, sentiment, and momentum.
Key Features and What It Does:
The indicator fetches and displays **real-time market internals** by monitoring various breadth indicators, price action, and macroeconomic influences. It presents this data in a **color-coded table overlay** that updates dynamically to reflect changes in market sentiment.
---
Market Internals Monitored:
1. TICK Index (TICKQ)
- Measures short-term market sentiment by tracking the number of advancing vs. declining stocks at a given moment.
- Green: Strong positive sentiment (above threshold).
- Red: Weak sentiment (below threshold).
2. Advance-Decline Line (ADDQ) & Moving Average Sentiment
- Tracks the net difference between advancing and declining stocks on the NASDAQ.
- EMA-Based Trend Signal:
- Uses a 10-period EMA to smooth ADDQ values and identify trends.
- Rising EMA suggests broad market strength (bullish momentum).
- Falling EMA** indicates market weakness** (bearish pressure).
- Directional Arrow System:
- 📈 Rising → Market internals improving (bullish).
- 📉 Falling → Weakening breadth (bearish).
3. VIX (Volatility Index) & EMA Sentiment
- Measures market volatility and risk sentiment.
- EMA-Based VIX Trend Analysis:
- Uses a 10-period EMA to track VIX momentum.
- Falling VIX EMA → Market stability & bullish sentiment.
- Rising VIX EMA → Increased fear & bearish conditions.
- Color-Coded Risk Levels:
- Green: Low VIX (market confidence).
- Orange: Neutral/transition phase.
- Red: High VIX (risk-off environment).
4. VWAP Deviation (% Above VWAP)
- Indicates how many stocks are trading above or below the VWAP (Volume Weighted Average Price).
- Used for tracking institutional activity and potential market reversals.
5. M7 VWAP (Mega-Cap 7 VWAP)
- Tracks VWAP levels for AAPL, MSFT, GOOGL, AMZN, META, NVDA, TSLA.
- Indicates whether **major tech stocks** are supporting or dragging the market.
6. Dollar Index (DXY)
- Measures the strength of the U.S. Dollar relative to other currencies.
- Impacts NASDAQ stocks as a weaker dollar tends to benefit tech stocks.
7. US 10-Year Treasury Yield (US10Y)
- Tracks interest rate trends, which influence market liquidity and risk appetite.
8. Bitcoin Price (BTCUSD)
- Cryptocurrency correlation tracking; used as a speculative risk indicator.
9. QQQ Price & Change (%)
- The performance of the *ASDAQ-100 ETF (QQQ) for broader index trend confirmation.
10. Current Ticker Price Change (%)
- Shows the **percentage change** of the selected stock relative to its previous close.
---
### How It Helps Traders:
✅ Identifies Trend Strength → Using EMA-based ADDQ & VIX signals for sentiment confirmation.
✅ Detects Market Turning Points → Through TICKQ, VWAP deviation, and M7 VWAP.
✅ Tracks Institutional Activity→ Watching whether mega-cap tech stocks are supporting the market.
✅ Measures Risk Appetite → By integrating VIX, DXY, US10Y, and BTC into the analysis.
✅ Provides Macro Confirmation → Understanding if external factors (like bond yields) are impacting NASDAQ moves.
---
Final Summary:
The Internals Elite NASDAQ is a market internals dashboard that consolidates essential breadth, volatility, macro, and risk indicators into a single view. By incorporating EMA-based trend tracking for ADDQ and VIX, the indicator helps traders confirm bullish or bearish sentiment shifts and make data-driven trading decisions.
Would you like any additional refinements? 🚀
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. You can favorite it to use it on a chart.
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