Spot vs Leverage — Lite (QQQ/NQ)
Score > +20 → “Spot dominant”
👉 The rise (or price stability) is supported by real buying:
strong cash/ETF/equity inflows,
positive price–volume correlation,
low or negative basis (futures aren’t artificially pulling price up).
→ This is a healthy, structurally solid rally.
Score < −20 → “Leverage dominant”
👉 The move is mostly driven by leverage:
overbought futures,
options speculation,
weak spot volume.
→ The trend is fragile — it can collapse quickly if leveraged positions unwind (deleverage, inverse short squeeze, etc.).
Zone between −20 and +20 → Neutral / mixed
→ The market is balanced — neither purely “air” nor purely “cash.”
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Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact sugogou directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.