Market Trend & Breadth Checklist [Kulturdesken]

Description
Concept & Inspiration This indicator serves as a disciplined "Pre-Flight Checklist" for swing traders, combining two powerful methodologies into one objective dashboard.

The Foundation (kulturdesken): The core checklist structure is inspired by the workflow of kulturdesken, utilizing the QQQE (Nasdaq 100 Equal Weighted Index). By focusing on the equal-weighted index rather than the market-cap weighted QQQ, we avoid distortions caused by mega-cap stocks and gauge the true price trend of the average stock.

The Enhancement (StockBee): To further filter out "hollow rallies," we integrated Pradeep Bonde’s (StockBee) "Market Monitor" logic. This adds a layer of analysis based on the Total US Universe (Wilshire 5000) to ensure market breadth is expanding, not just price.

Why StockBee Logic Was Added While QQQE tells us if the average price is trending, the StockBee logic tells us if the market structure is healthy. We added the "Universe" checks (Total US Market Breadth) because price trends can sometimes be deceptive during low-volume corrections.

By incorporating the Market Monitor concept (specifically checking if the % of stocks above their 50-day Moving Average is rising), this tool acts as a "Traffic Light." It prevents the trader from entering aggressive long positions even if QQQE is green, provided the underlying participation (Market Breadth) is weak.

How It Works (The 7 Checks)

1. Price Momentum (Kulturdesken): QQQE > Rising 5 SMA

Verifies short-term momentum is aggressive (Price > 5SMA) and the 5SMA itself is curling up.

2. Daily Trend Structure: Daily Buy Signal

Verifies a "stacked" bullish alignment where Price > 10 SMA > 20 SMA.

3. Macro Trend: Weekly Buy Signal

Verifies the Weekly Price > 10 WMA > 20 WMA (Weighted Moving Averages).

4. Universe Breadth (StockBee/McClellan): Summation Uptrend

We aggregate Nasdaq + NYSE data to create a "Total Universe" McClellan Summation Index.

Check: Is the Summation Index rising? (Indicates long-term money flow entering the system).

5. Short-Term Thrust: Oscillator Positive

Uses the "Total Universe" McClellan Oscillator.

Check: Is the Oscillator > 0? (Indicates immediate buying pressure is dominant).

6. Leadership: Net Highs/Lows

Check: Are Net New Highs (Highs minus Lows) trending positive?

7. Performance Filter (Manual): Traction Check

A psychological guardrail. If you toggle this off in settings (indicating you are losing money/getting stopped out), the checklist forces a "WAIT" signal, protecting you from overtrading during choppy conditions.

Settings & Customization

Data Feeds: The script is pre-configured with USI (United States Indices) and INDEX tickers to ensure accurate breadth data, but these can be customized in the settings.

Main Ticker: Defaults to QQQE.

Disclaimer: This tool is for educational purposes and market analysis only. It does not constitute financial advice. Past performance is not indicative of future results.