Global Market Strength and Breadth StanceIntroduction
The Market Strength and Breadth Dashboard is a comprehensive, institutional-grade market monitoring tool designed for swing traders and active investors. Instead of trading in a vacuum, this dashboard scans the internal health of a chosen market across cap sizes, sector leaders, equal-weighted indices, and growth/value proxies. By analyzing multiple dimensions of trend strength and rolling them up into a live dashboard, the indicator calculates an overall Market Stance and provides actionable guidance on Total Open Risk (TOR).
Whether you trade in the US, India, Japan, China, Taiwan, or South Korea, this dashboard provides a top-down view of market breadth so you can trade with the wind at your back.
Key Features
1. Multi-Market & Sector Breadth Coverage
The dashboard automatically maps a curated list of index benchmarks, equal-weight indices, growth/tech proxies, and sector ETFs based on your selected country:
United States (US): SPY (S&P 500), QQQ (Nasdaq 100), RSP (S&P 500 Equal Weight), IWM (Russell 2000), MDY (S&P MidCap 400), SMH (Semiconductors), IGV (Tech-Software).
India (IN): Nifty 50, Nifty 50 Equal Weight, Nifty 500, Nifty Midcap 100, Nifty Smallcap 100, Nifty IT, Nifty Finance, Nifty Auto, Nifty Banking, Manufacturing, Nifty India Digital.
Japan (JP): Nikkei 225, TOPIX, TOPIX 100, TOPIX Mid 400, Nikkei Mid Small ETF, TOPIX Small Index, Nikkei Semiconductor, Semiconductor ETF, Electric Appliances, TOPIX Machinery.
China (CN): Total Stock Market, Top 300 Index (Weighted & Equal Weight), 50 Large Cap, 500 Mid Cap, 1000 Small Cap, ChiNext 100, Tech/Semis/AI/Biotech.
Taiwan (TW): TAIEX, Top 50 ETF, Mid-Cap 100 ETF, TPEX Weighted Index, Semiconductors Sub-Index, Electronics Sub-Index, Electronic Parts/Components, Market Leader Equal Weight ETF, IT Growth Equal Weight ETF.
South Korea (KR): KOSPI, KOSPI 200, KOSPI Large, KOSPI Mid, KOSPI Small, KOSDAQ, KOSDAQ 150, KOSPI 200 Equal Weight, KQ150 Equal Weight.
2. Timeframe-Adaptive Moving Averages
Moving average lengths are automatically adjusted based on your selected Analysis Timeframe to ensure the technical signals match the trend structure of that horizon:
Daily Timeframe: 20 SMA (Short-term), 50 SMA (Medium-term), 200 SMA (Long-term / Macro).
Weekly Timeframe: 10 SMA, 30 SMA, 40 SMA.
Monthly Timeframe: 3 SMA, 6 SMA, 10 SMA.
3. Advanced Hybrid Trend Engine
Rather than relying on a single moving average, the dashboard calculates a Hybrid Trend for each index by combining two distinct methodologies:
SMA Ribbon Trend: Evaluates alignment. A full bullish alignment requires:
Price > SMA 1 > SMA 2 > SMA 3, while a bearish alignment requires:
Price < SMA 1 < SMA 2 < SMA3
Donchian Channel Trend: Checks price relative to the 20-period Donchian mid-line. If the price is within 15% of the Donchian mid-line, the trend is treated as Sideways (congestion). If it breaks out above or below this corridor, it triggers a trend state.
The Hybrid Nuance: A ticker is only marked in an Uptrend if the Donchian trend is bullish and the SMA Ribbon is not bearish. It is marked in a Downtrend if the Donchian trend is bearish and the SMA Ribbon is not bullish. Otherwise, it is classified as Sideways.
4. Granular Status Classification
Every monitored index is evaluated and categorized into one of five states:
🟢 Very Bullish: Macro bullish (SMA 2 > SMA 3), short-term bullish (SMA1 > SMA2), price trading above the short-term SMA 1, and the Hybrid Trend is actively upward.
🟢 Bullish: Macro and short-term bullish alignments are in place, price is above
SMA 1, but the Hybrid Trend has turned sideways.
🔵 Pullback: Macro and short-term bullish alignments are intact, but price has pulled back below the short-term SMA 1 (while holding above the medium-term SMA 2). Ideal for dip-buying setups.
🟡 Caution: Signals are mixed. This occurs during transitional phases, such as when price is below SMA 2 in a macro uptrend, or when price trades above SMA 1 but the macro alignment is bearish (SMA 2 ≤ SMA 3).
🔴 Bearish: Macro bearish alignment (SMA 2 ≤ SMA 3) and the price is below its short-term
SMA 1.
The Breadth & Stance Engine (Dashboard Footer)
The bottom row of the dashboard acts as the command center, compiling all individual metrics into market breadth stats and a singular directional bias:
1. Market Stance & Total Open Risk (TOR)
The dashboard calculates a global market posture based on the state of the primary index (e.g., SPY for US, Nifty 50 for India) and the percentage of overall constructive indices:
Risk-On (Aggressive) | TOR Open (6-8R): The primary index is Bullish/Very Bullish, ≥ 70% of the market is constructive, and ≤ 10% is Bearish. This is the green light for aggressive long positioning.
Risk-On (Selective) | TOR Normal (4-5R): The primary index is constructive, and ≥ 50% of the market is constructive. Longs are favored, but selectivity and tight setups are required.
Risk-Off (Defensive) | TOR Tight (1-2R): The primary index is bearish or ≥ 50% of the indices are in a Bearish status. Capital should be defensively positioned; focus shifts to short exposure or hedging.
Capital Preservation | TOR Cash (0R): The primary index is Bearish, and ≥ 75% of all indices are in a Bearish status. The system advises sitting in cash.
Caution / Neutral | TOR Max 3R: Outlines range-bound or highly rotational conditions. Open risk should be strictly capped.
2. Breadth Ratio Columns
The dashboard displays raw breadth ratios for three structural checkpoints:
Price > MA1 (Short-term momentum breadth)
MA1 > MA2 (Medium-term structural health)
MA2 > MA3 (Long-term structural alignment)
Format: L / S (Long / Short). E.g., 5L / 2S means 5 indices are bullish on that metric, and 2 are bearish.
Color Coding: Automatically highlights in Green if ≥ 70% of the indices are positive, Red if ≥ 60% are negative, and Yellow for rotational/neutral conditions.
Under the Hood: Pine Script v6 Optimization
This script has been engineered to prevent chart lag. All calculations are requested dynamically using a single, optimized request.security tuple call per ticker.
No Repainting : The dashboard is calculated strictly on closed historical bars and the live real-time bar using barstate.islast, ensuring that historical data is not distorted and the dashboard is lightweight.
Declarative Layouts : The UI adapts row heights dynamically based on the number of active indices for the selected country, preventing empty table cells from wasting screen real estate.
User Input Settings
Active Market / Country : Switch between US, Korea, China, Taiwan, Japan, and India.
Analysis Timeframe : Select Daily, Weekly, or Monthly.
Table Position : Choose from 9 positions on your chart canvas.
Text Size : Small, Normal, or Large text configurations.
Styling & Colors : Fully customize table frames, title background, warning cells, risk stances, and text colors to match your dark or light chart theme.
⚠️ Important Caution & Risk Disclaimer
Please read and understand the following before incorporating this dashboard into your trading:
Index Decoupling: Sector weightings in modern index products are often heavily skewed toward mega-cap stocks. An index may print "Very Bullish" while the vast majority of individual mid-and-small-cap stocks are struggling. Always cross-reference index breadth with individual stock scans.
Breadth is a Filter, Not a Trigger: The dashboard's output (such as "Risk-On" or "Risk-Off") represents a statistical regime filter of market conditions. It is not a direct buy or sell signal. Trade execution must still rely on your own verified setups, trigger criteria, and risk-reward calculations.
Data & Calculation Lag: Because the dashboard aggregates multiple indices and ETFs, there may be temporary divergences in fast-moving markets or discrepancies between local index data feeds.
No Guarantee of Accuracy: Historical performance of these filters is not indicative of future results. Market regimes can shift rapidly without warning. You must use your own judgment, manage your trade sizing, and implement hard stops on every position. Never risk more capital than you can afford to lose.
Indicator
