OPEN-SOURCE SCRIPT
Mag7 Combined Index vs MSTR
This indicator is ideal for analyzing the overall market impact of MSTR (Strategy) compared to the Mag7 stocks. This script is a custom TradingView indicator that calculates and visualizes the collective performance of the Magnificent 7 (Mag7) stocks—Apple, Microsoft, Alphabet, Amazon, NVIDIA, Tesla, and Meta (green line) compared to MSTR (orange line). It normalizes the daily closing prices of each stock to their initial value on the chart, scales them into percentages, and then computes their simple average to form a combined index. The result is plotted as a single blue line, offering a clear view of the aggregated performance of these influential stocks over time compared to Bitcoin.
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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Disclaimer
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