OPEN-SOURCE SCRIPT
Updated Global Trend [BEA]
Do you Ever Wonder How world Market/indices are Performing Before your Market Open?
This indicator consist of 30 Major global indices and 10 local Indices which will help you get a idea of the direction of the global markets. So basically I have calculate the % change for each bar, then I am calculating the weightage of positive change with respect to total % change for all four markets separately .
How to use this indicator?
As per my experience , each regional market will follow the global trend , so I think the the local markets will tends to converge towards the average of all four market trend ( I am situated in Asia , so you need to do your own research before using this indicator )
Following four markets are being plotted :
I have provided inputs to select the indices , you can change the local index as per your location.
You can choose whichever market trend you want to display.
In the following image i have selected the American market and Local market
In the following image i have selected the American market and Local market
Sources & refences :
Big thank to pinecoders.com/faq_and_code/ and kodify.net
DISCLAIMER
Any and all liability for risks resulting from investment transactions or other asset dispositions carried out by the user based on information received or a market analysis is expressly excluded by me.
All the information made available here is generally provided to serve as an example only, without obligation and without specific recommendations for action. It does not constitute and cannot replace investment advice. We therefore recommend that you contact your personal financial advisor before carrying out specific transactions and investments.
Do your own research, This is not a financial advice.
This indicator consist of 30 Major global indices and 10 local Indices which will help you get a idea of the direction of the global markets. So basically I have calculate the % change for each bar, then I am calculating the weightage of positive change with respect to total % change for all four markets separately .
How to use this indicator?
As per my experience , each regional market will follow the global trend , so I think the the local markets will tends to converge towards the average of all four market trend ( I am situated in Asia , so you need to do your own research before using this indicator )
Following four markets are being plotted :
- American Market
- Asian Market
- European Market
- Local Market
I have provided inputs to select the indices , you can change the local index as per your location.
You can choose whichever market trend you want to display.
In the following image i have selected the American market and Local market
In the following image i have selected the American market and Local market
Sources & refences :
Big thank to pinecoders.com/faq_and_code/ and kodify.net
DISCLAIMER
Any and all liability for risks resulting from investment transactions or other asset dispositions carried out by the user based on information received or a market analysis is expressly excluded by me.
All the information made available here is generally provided to serve as an example only, without obligation and without specific recommendations for action. It does not constitute and cannot replace investment advice. We therefore recommend that you contact your personal financial advisor before carrying out specific transactions and investments.
Do your own research, This is not a financial advice.
Release Notes
-Bug resolved New option added
-Use Todays open instead of yesterdays close for calculation
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Learning to trade and coding my strategies in Pine Script. Passing Prop Firms. DM me for any inquiries.
Buy me coffee at:
paypal : tabrejalam786007@gmail.com
BTC : 15zY6PUsrV55UQvcfaSqk5hJexKZAwhpcK
Buy me coffee at:
paypal : tabrejalam786007@gmail.com
BTC : 15zY6PUsrV55UQvcfaSqk5hJexKZAwhpcK
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Learning to trade and coding my strategies in Pine Script. Passing Prop Firms. DM me for any inquiries.
Buy me coffee at:
paypal : tabrejalam786007@gmail.com
BTC : 15zY6PUsrV55UQvcfaSqk5hJexKZAwhpcK
Buy me coffee at:
paypal : tabrejalam786007@gmail.com
BTC : 15zY6PUsrV55UQvcfaSqk5hJexKZAwhpcK
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.