Beat the market

[Headhunter20]

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https://usethinkscript.com/threads/s-p-500-sector-performance-for-thinkorswim.9641/​

Is there any type of indicator that displays the percentage of a stock gain over or under the percentage of the SPY? or relative percentages?
Can that even be done? I was just thinking to beat the market, you just have to own stocks that are gaining a higher percentage of the market. I am new to this. Let me know if I am way off base if you would please. Would be nice if people could scan for this. ? . ?

 

[germanburrito]

Is there any type of indicator that displays the percentage of a stock gain over or under the percentage of the SPY? or relative percentages?
Can that even be done? I was just thinking to beat the market, you just have to own stocks that are gaining a higher percentage of the market. I am new to this. Let me know if I am way off base if you would please. Would be nice if people could scan for this. ? . ?

Thats an interesting idea, I have used relative strength (not rsi) but I dont like it, I think you can win if you study when it works, but often times something that is above the SPY might be toping off, I think relative strength does work best before a SPY/MARKET reversal, meaning of everything is falling and something is falling less, when the market starts to reverse it might be a sign that that equity was strong even during a sell off, which might indicate that a stronger reversal or a higher chance of winning might be in play. Be careful with what I'm saying because I only play the SPY and sometimes the qqq, but I do look at the relationships between these and the VIX and DOW. There is an indicator by movious sort of like is like relative strength as a stochastic.

 

[Headhunter20]

I have used the "comparison" chart in TOS and found it interesting that a given stock may cross above the spy line and I began to wonder if there was a way to scan for that. I am most interested in the crossover of the two. (Stock % crossing above the SPY %) Would it be useable?

 

[germanburrito]

I have used the "comparison" chart in TOS and found it interesting that a given stock may cross above the spy line and I began to wonder if there was a way to scan for that. I am most interested in the crossover of the two. (Stock % crossing above the SPY %) Would it be useable?

Backtest, you'll probably see if it works. But im bot sure how to scan for comparison

 

[Headhunter20]

Yeeeeeah, I'll work on that .... hahahaha

 

[germanburrito]

Yeeeeeah, I'll work on that .... hahahaha

Do it, try to pick random days and predict the market, here is a video that made me think of you

Also add me on Twitter @germanbrito17

 

[Headhunter20]

Actually I thought it would be harder to do.... but your comment gave me an idea and I actually modified an indicator !!!!!!!
Thank you.
Here it is if you want to take a look. I don't remember where I got the initial indicator. On this website maybe? Here it is.

# S&P 500 Sector Performance (Percentage)
# Paris
# 4.12.2018
# After reviewing chubbyboy's S&P sector study, I thought it might
# be a good idea to display labels of relative S&P sector performance
# in percentages. At one glance this will enable us to determine
# which sectors are happening and which are not. Decided to use a
# script() to retrieve the data. Also, I changed the formula slightly.
# The percentage displayed is the current price as a percentage over
# yesterday's closing rather than the open today as was used in chubbyboy's
# study.
#====== Further Modified by Killing Hours ======#
# 5/4/2020 #
# Added Color Mapping #
# to distinguish more suddle movements #
#===============================================#
Modified slightly by Headhunter20.


######################################################################################
script Sector {
input symb = "SPX";
def c = close(symbol = symb, period = AggregationPeriod.day);
def PctChg = (c / c[1]) - 1;
plot pct = PctChg;
}

#Define the color map. Change as you see fit
DefineGlobalColor("VeryGood", CreateColor(4, 216, 22));
DefineGlobalColor("Good", CreateColor(46, 216, 4));
DefineGlobalColor("ModGood", CreateColor(121, 216, 4));
DefineGlobalColor("SlightlyGood", CreateColor(167, 216, 4));
DefineGlobalColor("SluggishGood", CreateColor(210,252,126));
DefineGlobalColor("Neutral", CreateColor(252, 231, 126));
DefineGlobalColor("SluggishBad", CreateColor(252,168,126));
DefineGlobalColor("SlightlyBad", CreateColor(216, 163, 4));
DefineGlobalColor("ModBad", CreateColor(216, 117, 4));
DefineGlobalColor("Bad", CreateColor(216, 43, 4));
DefineGlobalColor("VeryBad", CreateColor(216, 4, 4));

# SPX Overall
def SPX = Sector("SPX");
def spxPer = round(SPX,4) * 100;
AddLabel(
1,
"S&P 500: " +spxPer+"%",
if spxPer > 1.50 then GlobalColor("VeryGood") else
if spxPer > 1 && spxPer <= 1.50 then GlobalColor("Good") else
if spxPer > .5 && spxPer <= 1 then GlobalColor("ModGood") else
if spxPer > .25 && spxPer <= .5 then GlobalColor("SlightlyGood") else
if spxPer > 0 && spxPer <= .25 then GlobalColor("SluggishGood") else
if spxPer == 0 then GlobalColor("Neutral") else
if spxPer < 0 && spxPer >= -.25 then GlobalColor("SluggishBad") else
if spxPer < -.25 && spxPer >= -.5 then GlobalColor("SlightlyBad") else
if spxPer < -.5 && spxPer >= -1 then GlobalColor("ModBad") else
if spxPer < -1 && spxPer >= -1.50 then GlobalColor("Bad") else
if spxPer < -1.50 then GlobalColor("VeryBad") else
Color.black
);

# Energy Sector
def Energy = Sector("$SP500#10");
def engPer = round(Energy,4) * 100;
AddLabel(
1,
"Energy: "+engPer+"% XLE #10",
if engPer > 1.50 then GlobalColor("VeryGood") else
if engPer > 1 && engPer <= 1.50 then GlobalColor("Good") else
if engPer > .5 && engPer <= 1 then GlobalColor("ModGood") else
if engPer > .25 && engPer <= .5 then GlobalColor("SlightlyGood") else
if engPer > 0 && engPer <= .25 then GlobalColor("SluggishGood") else
if engPer == 0 then GlobalColor("Neutral") else
if engPer < 0 && engPer >= -.25 then GlobalColor("SluggishBad") else
if engPer < -.25 && engPer >= -.5 then GlobalColor("SlightlyBad") else
if engPer < -.5 && engPer >= -1 then GlobalColor("ModBad") else
if engPer < -1 && engPer >= -1.50 then GlobalColor("Bad") else
if engPer < -1.50 then GlobalColor("VeryBad") else
Color.black
);

# Consumer Discretionary Spending Sector
def ConDisr = Sector("$SP500#25");
def conDPer = round(ConDisr,4);
AddLabel(
1,
"Con. Discretionary: "+conDPer+"% XLY #25",
if conDPer > 1.50 then GlobalColor("VeryGood") else
if conDPer > 1 && conDPer <= 1.50 then GlobalColor("Good") else
if conDPer > .5 && conDPer <= 1 then GlobalColor("ModGood") else
if conDPer > .25 && conDPer <= .5 then GlobalColor("SlightlyGood") else
if conDPer > 0 && conDPer <= .25 then GlobalColor("SluggishGood") else
if conDPer == 0 then GlobalColor("Neutral") else
if conDPer < 0 && conDPer >= -.25 then GlobalColor("SluggishBad") else
if conDPer < -.25 && conDPer >= -.5 then GlobalColor("SlightlyBad") else
if conDPer < -.5 && conDPer >= -1 then GlobalColor("ModBad") else
if conDPer < -1 && conDPer >= -1.50 then GlobalColor("Bad") else
if conDPer < -1.50 then GlobalColor("VeryBad") else
Color.black
);

# Financial Sector
def Finance = Sector("$SP500#40");
def finPer = round(Finance,4) * 100;
AddLabel(
1,
"Financials: "+finPer+"% XLF #40",
if finPer > 1.50 then GlobalColor("VeryGood") else
if finPer > 1 && finPer <= 1.50 then GlobalColor("Good") else
if finPer > .5 && finPer <= 1 then GlobalColor("ModGood") else
if finPer > .25 && finPer <= .5 then GlobalColor("SlightlyGood") else
if finPer > 0 && finPer <= .25 then GlobalColor("SluggishGood") else
if finPer == 0 then GlobalColor("Neutral") else
if finPer < 0 && finPer >= -.25 then GlobalColor("SluggishBad") else
if finPer < -.25 && finPer >= -.5 then GlobalColor("SlightlyBad") else
if finPer < -.5 && finPer >= -1 then GlobalColor("ModBad") else
if finPer < -1 && finPer >= -1.50 then GlobalColor("Bad") else
if finPer < -1.50 then GlobalColor("VeryBad") else
Color.black
);

# Utilities Sector
def Utilities = Sector("$SP500#55");
def utiPer = round(Utilities,4) * 100;
AddLabel(
1,
"Utilities: "+utiPer+"% XLU #55",
if utiPer > 1.50 then GlobalColor("VeryGood") else
if utiPer > 1 && utiPer <= 1.50 then GlobalColor("Good") else
if utiPer > .5 && utiPer <= 1 then GlobalColor("ModGood") else
if utiPer > .25 && utiPer <= .5 then GlobalColor("SlightlyGood") else
if utiPer > 0 && utiPer <= .25 then GlobalColor("SluggishGood") else
if utiPer == 0 then GlobalColor("Neutral") else
if utiPer < 0 && utiPer >= -.25 then GlobalColor("SluggishBad") else
if utiPer < -.25 && utiPer >= -.5 then GlobalColor("SlightlyBad") else
if utiPer < -.5 && utiPer >= -1 then GlobalColor("ModBad") else
if utiPer < -1 && utiPer >= -1.50 then GlobalColor("Bad") else
if utiPer < -1.50 then GlobalColor("VeryBad") else
Color.black
);

# Materials Sector
def Materials = Sector("$SP500#15");
def matPer = round(Materials,4) * 100;
AddLabel(
1,
"Materials: "+matPer+"% XLB #15",
if matPer > 1.50 then GlobalColor("VeryGood") else
if matPer > 1 && matPer <= 1.50 then GlobalColor("Good") else
if matPer > .5 && matPer <= 1 then GlobalColor("ModGood") else
if matPer > .25 && matPer <= .5 then GlobalColor("SlightlyGood") else
if matPer > 0 && matPer <= .25 then GlobalColor("SluggishGood") else
if matPer == 0 then GlobalColor("Neutral") else
if matPer < 0 && matPer >= -.25 then GlobalColor("SluggishBad") else
if matPer < -.25 && matPer >= -.5 then GlobalColor("SlightlyBad") else
if matPer < -.5 && matPer >= -1 then GlobalColor("ModBad") else
if matPer < -1 && matPer >= -1.50 then GlobalColor("Bad") else
if matPer < -1.50 then GlobalColor("VeryBad") else
Color.black
);

# Consumer Staples Sector
def ConStaple = Sector("$SP500#30");
def conSPer = round(ConStaple,4) * 100;
AddLabel(
1,
"Consumer Staples: "+conSPer+"% XLP #30",
if conSPer > 1.50 then GlobalColor("VeryGood") else
if conSPer > 1 && conSPer <= 1.50 then GlobalColor("Good") else
if conSPer > .5 && conSPer <= 1 then GlobalColor("ModGood") else
if conSPer > .25 && conSPer <= .5 then GlobalColor("SlightlyGood") else
if conSPer > 0 && conSPer <= .25 then GlobalColor("SluggishGood") else
if conSPer == 0 then GlobalColor("Neutral") else
if conSPer < 0 && conSPer >= -.25 then GlobalColor("SluggishBad") else
if conSPer < -.25 && conSPer >= -.5 then GlobalColor("SlightlyBad") else
if conSPer < -.5 && conSPer >= -1 then GlobalColor("ModBad") else
if conSPer < -1 && conSPer >= -1.50 then GlobalColor("Bad") else
if conSPer < -1.50 then GlobalColor("VeryBad") else
Color.black
);

# Information Technology Sector
def InfoTech = Sector("$SP500#45");
def infPer = round(InfoTech,4) * 100;
AddLabel(
1,
"Info Tech: " +infPer+"% XLK #45",
if infPer > 1.50 then GlobalColor("VeryGood") else
if infPer > 1 && infPer <= 1.50 then GlobalColor("Good") else
if infPer > .5 && infPer <= 1 then GlobalColor("ModGood") else
if infPer > .25 && infPer <= .5 then GlobalColor("SlightlyGood") else
if infPer > 0 && infPer <= .25 then GlobalColor("SluggishGood") else
if infPer == 0 then GlobalColor("Neutral") else
if infPer < 0 && infPer >= -.25 then GlobalColor("SluggishBad") else
if infPer < -.25 && infPer >= -.5 then GlobalColor("SlightlyBad") else
if infPer < -.5 && infPer >= -1 then GlobalColor("ModBad") else
if infPer < -1 && infPer >= -1.50 then GlobalColor("Bad") else
if infPer < -1.50 then GlobalColor("VeryBad") else
Color.black
);

# Real Estate Sector
def RealEste = Sector("$SP500#60");
def reaPer = round(RealEste,4) * 100;
AddLabel(
1,
"Real Estate: " +reaPer+"% XLRE #60",
if reaPer > 1.50 then GlobalColor("VeryGood") else
if reaPer > 1 && reaPer <= 1.50 then GlobalColor("Good") else
if reaPer > .5 && reaPer <= 1 then GlobalColor("ModGood") else
if reaPer > .25 && reaPer <= .5 then GlobalColor("SlightlyGood") else
if reaPer > 0 && reaPer <= .25 then GlobalColor("SluggishGood") else
if reaPer == 0 then GlobalColor("Neutral") else
if reaPer < 0 && reaPer >= -.25 then GlobalColor("SluggishBad") else
if reaPer < -.25 && reaPer >= -.5 then GlobalColor("SlightlyBad") else
if reaPer < -.5 && reaPer >= -1 then GlobalColor("ModBad") else
if reaPer < -1 && reaPer >= -1.50 then GlobalColor("Bad") else
if reaPer < -1.50 then GlobalColor("VeryBad") else
Color.black
);


# Industrial Sector
def Industrl = Sector("$SP500#20");
def indPer = round(Industrl,4) * 100;
AddLabel(
1,
"Industrials: " +indPer+"% XLI #20",
if indPer > 1.50 then GlobalColor("VeryGood") else
if indPer > 1 && indPer <= 1.50 then GlobalColor("Good") else
if indPer > .5 && indPer <= 1 then GlobalColor("ModGood") else
if indPer > .25 && indPer <= .5 then GlobalColor("SlightlyGood") else
if indPer > 0 && indPer <= .25 then GlobalColor("SluggishGood") else
if indPer == 0 then GlobalColor("Neutral") else
if indPer < 0 && indPer >= -.25 then GlobalColor("SluggishBad") else
if indPer < -.25 && indPer >= -.5 then GlobalColor("SlightlyBad") else
if indPer < -.5 && indPer >= -1 then GlobalColor("ModBad") else
if indPer < -1 && indPer >= -1.50 then GlobalColor("Bad") else
if indPer < -1.50 then GlobalColor("VeryBad") else
Color.black
);

# Healthcare Sector
def Health = Sector("$SP500#35");
def heaPer = round(Health,4) * 100;
AddLabel(
1,
"Health Care: " +heaPer+"% XLV #35",
if heaPer > 1.50 then GlobalColor("VeryGood") else
if heaPer > 1 && heaPer <= 1.50 then GlobalColor("Good") else
if heaPer > .5 && heaPer <= 1 then GlobalColor("ModGood") else
if heaPer > .25 && heaPer <= .5 then GlobalColor("SlightlyGood") else
if heaPer > 0 && heaPer <= .25 then GlobalColor("SluggishGood") else
if heaPer == 0 then GlobalColor("Neutral") else
if heaPer < 0 && heaPer >= -.25 then GlobalColor("SluggishBad") else
if heaPer < -.25 && heaPer >= -.5 then GlobalColor("SlightlyBad") else
if heaPer < -.5 && heaPer >= -1 then GlobalColor("ModBad") else
if heaPer < -1 && heaPer >= -1.50 then GlobalColor("Bad") else
if heaPer < -1.50 then GlobalColor("VeryBad") else
Color.black
);

# Telecommunication Sector
def Telecoms = Sector("$SP500#50");
def telPef = round(Telecoms,4) * 100;
AddLabel(
1,
"Telecoms: " +telPef+"% XLC #50",
if telPef > 1.50 then GlobalColor("VeryGood") else
if telPef > 1 && telPef <= 1.50 then GlobalColor("Good") else
if telPef > .5 && telPef <= 1 then GlobalColor("ModGood") else
if telPef > .25 && telPef <= .5 then GlobalColor("SlightlyGood") else
if telPef > 0 && telPef <= .25 then GlobalColor("SluggishGood") else
if telPef == 0 then GlobalColor("Neutral") else
if telPef < 0 && telPef >= -.25 then GlobalColor("SluggishBad") else
if telPef < -.25 && telPef >= -.5 then GlobalColor("SlightlyBad") else
if telPef < -.5 && telPef >= -1 then GlobalColor("ModBad") else
if telPef < -1 && telPef >= -1.50 then GlobalColor("Bad") else
if telPef < -1.50 then GlobalColor("VeryBad") else
Color.black
);
# End Study

 

[Pensar]

@Headhunter20 This is the original header for the study you posted -

# S&P 500 Sector Performance (Percentage)
# Paris
# 4.12.2018
# After reviewing chubbyboy's S&P sector study, I thought it might
# be a good idea to display labels of relative S&P sector performance
# in percentages. At one glance this will enable us to determine
# which sectors are happening and which are not. Decided to use a
# script() to retrieve the data. Also, I changed the formula slightly.
# The percentage displayed is the current price as a percentage over
# yesterday's closing rather than the open today as was used in chubbyboy's
# study.
#====== Further Modified by Killing Hours ======#
#                   5/4/2020                    #
#             Added Color Mapping               #
#      to distinguish more suddle movements     #
#===============================================#

The code can be found under the author KillingHours in the ThinkScript Lounge OneNote - https://onedrive.live.com/redir?resid=2FF733D1BA1E1E79!404&authkey=!ABOXXFyQg1iUqFk&page=View&wd=target(04. By Author/KillingHours.one|309ae8b3-138b-4d9b-9ffb-b58774cecc93/Sector Performance Labels|0097c579-d233-4c7b-a9ce-109a8bd6e7b8/)

This Discussion Has Been Moved:
https://usethinkscript.com/threads/s-p-500-sector-performance-for-thinkorswim.9641/​