MomentumQ Breadth 2.0

MomentumQ Breadth 2.0

The MomentumQ Breadth 2.0 is a user-friendly overlay tool that helps traders analyze market breadth directly on the price chart. It supports multiple indices, flexible time frames, and optional background coloring to highlight bullish, neutral, and bearish conditions.

How It Works:

Index Selection
Choose between major market indices for analysis:

• S&P 500
  
• NASDAQ
  
• Dow Jones Industrial Average (DJIA)
  
• Russell 2000
  

Time Period Customization
Select from different moving-average periods to suit your strategy:

• 5-Day
  
• 20-Day
  
• 50-Day
  
• 100-Day
  
• 150-Day
  
• 200-Day
  

Shorter periods react faster to changes in participation, while longer periods show broader market trends.

Dynamic Symbol Mapping
The indicator automatically selects the correct breadth symbol based on the chosen index and time period using TradingView’s request.security() function. No manual lookup is needed.

Symbols Used

S&P 500

• 5-Day: S5FD
  
• 20-Day: S5TW
  
• 50-Day: S5FI
  
• 100-Day: S5OH
  
• 150-Day: S5OF
  
• 200-Day: S5TH
  

NASDAQ

• 5-Day: NDFD
  
• 20-Day: NDTW
  
• 50-Day: NDFI
  
• 100-Day: NDOH
  
• 150-Day: NDOF
  
• 200-Day: NDTH
  

Dow Jones Industrial Average (DJIA)

• 5-Day: DIFD
  
• 20-Day: DITW
  
• 50-Day: DIFI
  
• 100-Day: DIOH
  
• 150-Day: DIOF
  
• 200-Day: DITH
  

Russell 2000

• 5-Day: R2FD
  
• 20-Day: R2TW
  
• 50-Day: R2FI
  
• 100-Day: R2OH
  
• 150-Day: R2OF
  
• 200-Day: R2TH
  

Key Features

• Overlay mode displays the breadth line directly on the price chart.
  
• Dynamic background coloring highlights key breadth zones:
  Above 70 = Bearish/Overbought, 50–70 = Slightly Bearish, 30–50 = Slightly Bullish, Below 30 = Bullish/Oversold.
  
• Fully customizable colors and transparency.
  
• Automatic adjustment for dark or light chart themes.
  
• Toggle background coloring on or off in the settings.
  

Concepts and Calculations
Market breadth measures how many stocks are participating in a market move. The indicator uses predefined symbols showing the percentage of index constituents trading above their chosen moving average. A rising breadth line indicates strong participation, while a falling line signals weakness or narrowing leadership.

How to Use

• Add the MomentumQ Breadth 2.0 to your TradingView chart.
  
• Open the settings panel.
  
• Select your preferred index and time period.
  
• Enable or disable background coloring as desired.
  
• Interpret the breadth readings:
  Above 70 = strong momentum (possible overbought), around 50 = neutral, below 30 = weak momentum (possible oversold).
  

Why It’s Useful

• Shows market participation directly over price action.
  
• Covers four major indices and six time frames.
  
• Highlights sentiment transitions through color shading.
  
• Helps identify overbought, oversold, or neutral conditions quickly.
  

Disclaimer
The MomentumQ Breadth 2.0 is for analytical purposes only and does not guarantee profitability. All trading involves risk, and market conditions can change quickly. Always use appropriate risk management. Past performance does not guarantee future results.

Thank You for Your Support
This is a free tool created to help traders visualize market breadth with clarity and flexibility. Feedback and suggestions are welcome to guide future updates.