Market Snapshot — A Clean, Concise Read of Market ToneIf you want the market to make sense at a glance, this is the snapshot I built for that.
Most “market watch” scripts dump data.
This one gives you a clear, narrative snapshot of what the market is actually doing — in real time, without the noise.
Example (yesterday’s Market Snapshot)
Yesterday’s Read
- Market Pulse: Mixed / Fragmented
- Leadership: Small Caps Leading
- Risk Tone: Risk‑On (but without real conviction)
- Economic Tone: Weakening
- Breadth: Split across indices — some green, some red
This Morning’s Read
- Market Pulse: Mild Buying
- Leadership: Broad participation
- Risk Tone: Mixed Risk‑Off (cautious but constructive)
- Economic Tone: Improving
- Breadth: Cleaner alignment across major indices
Study Link
Market Snapshot
It focuses on four key dimensions:
1. Market Pulse
Are the major indices aligned or fighting each other?
- Broad Buying
- Mild Buying
- Mixed / Fragmented
- Mild Selling
- Broad Selling
Who’s driving the tape today?
- Tech
- Small Caps
- Broad Risk‑On
- Broad Risk‑Off
- Balanced
Where is the money flowing?
- Risk‑On = growth, small caps, high beta
- Risk‑Off = value, defensives, low volatility
(Risk‑On doesn’t mean “dangerous” — it means the market is favoring risk assets.)
A modern take on transports vs SPY.
Is the real economy participating?
- Strong
- Improving
- Neutral
- Weakening
- Contracting
It’s a market narrator — a quick, honest read of what’s happening right now.
The Fundamental Snippet above and the Market Snapshot below complement one another — at least for me. Together they give a clean, honest read of both the company and the market environment it’s trading in.
Ruby:
#===============================
# Market Snapshot Panel
# Pulse + Leadership + Risk Tone + Economic Tone
#===============================
declare lower;
input showMarket = yes;
#-------------------------------
# GLOBAL COLORS
#-------------------------------
DefineGlobalColor("Buy0", CreateColor(140, 220, 140)); # light green
DefineGlobalColor("Buy1", CreateColor(0, 180, 0)); # medium green
DefineGlobalColor("Buy2", CreateColor(0, 255, 0)); # bright green
DefineGlobalColor("Sell0", CreateColor(255,150,150)); # light red
DefineGlobalColor("Sell1", CreateColor(255,80,80)); # medium red
DefineGlobalColor("Sell2", CreateColor(200,0,0)); # dark red
DefineGlobalColor("Neutral", Color.YELLOW);
#-------------------------------
# RAW UVOL / DVOL DATA
#-------------------------------
def UVOL = close("$UVOL");
def DVOL = close("$DVOL");
def UVOLD = close("$UVOLI");
def DVOLD = close("$DVOLI");
def UVOLS = close("$UVOLSP");
def DVOLS = close("$DVOLSP");
def UVOLN = close("$UVOL/Q");
def DVOLN = close("$DVOL/Q");
def UVOLR = close("$UVOLRL");
def DVOLR = close("$DVOLRL");
#-------------------------------
# SIGNED RATIOS
#-------------------------------
def SPYRatio =
if UVOLS >= DVOLS then (UVOLS / DVOLS)
else -(DVOLS / UVOLS);
def DJIRatio =
if UVOLD >= DVOLD then (UVOLD / DVOLD)
else -(DVOLD / UVOLD);
def NDXRatio =
if UVOLN >= DVOLN then (UVOLN / DVOLN)
else -(DVOLN / UVOLN);
def RUTRatio =
if UVOLR >= DVOLR then (UVOLR / DVOLR)
else -(DVOLR / UVOLR);
def NYSERatio =
if UVOL >= DVOL then (UVOL / DVOL)
else -(DVOL / UVOL);
#-------------------------------
# BUCKETS BASED ON ABS VALUE
#-------------------------------
def bucketSPY =
if AbsValue(SPYRatio) >= 2 then 3 else
if AbsValue(SPYRatio) >= 1.3 then 2 else
if AbsValue(SPYRatio) >= 1 then 1 else
0;
def bucketDJI =
if AbsValue(DJIRatio) >= 2 then 3 else
if AbsValue(DJIRatio) >= 1.3 then 2 else
if AbsValue(DJIRatio) >= 1 then 1 else
0;
def bucketNDX =
if AbsValue(NDXRatio) >= 2 then 3 else
if AbsValue(NDXRatio) >= 1.3 then 2 else
if AbsValue(NDXRatio) >= 1 then 1 else
0;
def bucketRUT =
if AbsValue(RUTRatio) >= 2 then 3 else
if AbsValue(RUTRatio) >= 1.3 then 2 else
if AbsValue(RUTRatio) >= 1 then 1 else
0;
def bucketNYSE =
if AbsValue(NYSERatio) >= 2 then 3 else
if AbsValue(NYSERatio) >= 1.3 then 2 else
if AbsValue(NYSERatio) >= 1 then 1 else
0;
#-------------------------------
# VOLD UP / DOWN LABEL
#-------------------------------
def VOLD_Up = UVOL / DVOL;
def VOLD_Dn = DVOL / UVOL;
AddLabel(
showMarket,
if VOLD_Up > 1 then "VOLD_Up: " + Round(VOLD_Up, 4)
else "VOLD_Dn: " + Round(VOLD_Dn, 4),
if VOLD_Up > 1 then Color.CYAN else Color.RED
);
#-------------------------------
# HEADER
#-------------------------------
AddLabel(showMarket, "Market Snapshot", Color.WHITE);
#-------------------------------
# INDEX LABELS
#-------------------------------
AddLabel(
showMarket,
"S&P500: " + Round(SPYRatio, 2) + " :1",
if SPYRatio > 0 then
(if bucketSPY == 3 then GlobalColor("Buy2")
else if bucketSPY == 2 then GlobalColor("Buy1")
else GlobalColor("Buy0"))
else
(if bucketSPY == 3 then GlobalColor("Sell2")
else if bucketSPY == 2 then GlobalColor("Sell1")
else GlobalColor("Sell0"))
);
AddLabel(
showMarket,
"DJI: " + Round(DJIRatio, 2) + " :1",
if DJIRatio > 0 then
(if bucketDJI == 3 then GlobalColor("Buy2")
else if bucketDJI == 2 then GlobalColor("Buy1")
else GlobalColor("Buy0"))
else
(if bucketDJI == 3 then GlobalColor("Sell2")
else if bucketDJI == 2 then GlobalColor("Sell1")
else GlobalColor("Sell0"))
);
AddLabel(
showMarket,
"QQQ: " + Round(NDXRatio, 2) + " :1",
if NDXRatio > 0 then
(if bucketNDX == 3 then GlobalColor("Buy2")
else if bucketNDX == 2 then GlobalColor("Buy1")
else GlobalColor("Buy0"))
else
(if bucketNDX == 3 then GlobalColor("Sell2")
else if bucketNDX == 2 then GlobalColor("Sell1")
else GlobalColor("Sell0"))
);
AddLabel(
showMarket,
"R2000: " + Round(RUTRatio, 2) + " :1",
if RUTRatio > 0 then
(if bucketRUT == 3 then GlobalColor("Buy2")
else if bucketRUT == 2 then GlobalColor("Buy1")
else GlobalColor("Buy0"))
else
(if bucketRUT == 3 then GlobalColor("Sell2")
else if bucketRUT == 2 then GlobalColor("Sell1")
else GlobalColor("Sell0"))
);
AddLabel(
showMarket,
"NYSE: " + Round(NYSERatio, 2) + " :1",
if NYSERatio > 0 then
(if bucketNYSE == 3 then GlobalColor("Buy2")
else if bucketNYSE == 2 then GlobalColor("Buy1")
else GlobalColor("Buy0"))
else
(if bucketNYSE == 3 then GlobalColor("Sell2")
else if bucketNYSE == 2 then GlobalColor("Sell1")
else GlobalColor("Sell0"))
);
#-------------------------------
# MARKET PULSE SUMMARY
#-------------------------------
def posCount =
(SPYRatio > 0) +
(DJIRatio > 0) +
(NDXRatio > 0) +
(RUTRatio > 0) +
(NYSERatio > 0);
def negCount = 5 - posCount;
def avgBucket =
(bucketSPY + bucketDJI + bucketNDX + bucketRUT + bucketNYSE) / 5;
AddLabel(
showMarket,
if posCount >= 4 and avgBucket >= 2 then "Market Pulse: Broad Buying" else
if posCount >= 4 then "Market Pulse: Mild Buying" else
if posCount == 3 then "Market Pulse: Mixed / Fragmented" else
if negCount >= 4 and avgBucket >= 2 then "Market Pulse: Broad Selling" else
if negCount >= 4 then "Market Pulse: Mild Selling" else
"Market Pulse: Indecisive",
if posCount >= 4 and avgBucket >= 2 then GlobalColor("Buy2") else
if posCount >= 4 then GlobalColor("Buy0") else
if posCount == 3 then GlobalColor("Neutral") else
if negCount >= 4 and avgBucket >= 2 then GlobalColor("Sell2") else
if negCount >= 4 then GlobalColor("Sell0") else
Color.GRAY
);
#-------------------------------
# LEADERSHIP TILT (Tech vs Small Caps vs SPY)
#-------------------------------
def techLead = NDXRatio - SPYRatio;
def smallLead = RUTRatio - SPYRatio;
AddLabel(
showMarket,
if techLead > 0.3 and techLead > smallLead then "Leadership: Tech Leading" else
if smallLead > 0.3 and smallLead > techLead then "Leadership: Small Caps Leading" else
if techLead > 0 and smallLead > 0 then "Leadership: Broad Risk-On" else
if techLead < 0 and smallLead < 0 then "Leadership: Broad Risk-Off" else
"Leadership: Balanced",
if techLead > 0.3 and techLead > smallLead then GlobalColor("Buy1") else
if smallLead > 0.3 and smallLead > techLead then GlobalColor("Buy1") else
if techLead > 0 and smallLead > 0 then GlobalColor("Buy0") else
if techLead < 0 and smallLead < 0 then GlobalColor("Sell0") else
GlobalColor("Neutral")
);
#-------------------------------
# RISK TONE (Growth vs Value vs SPY)
#-------------------------------
def growthLead = NDXRatio - SPYRatio;
def valueLead = DJIRatio - SPYRatio;
AddLabel(
showMarket,
if growthLead > 0.3 and growthLead > valueLead then "Risk Tone: Risk-On" else
if valueLead > 0.3 and valueLead > growthLead then "Risk Tone: Risk-Off" else
if growthLead > 0 and valueLead > 0 then "Risk Tone: Mixed Risk-On" else
if growthLead < 0 and valueLead < 0 then "Risk Tone: Mixed Risk-Off" else
"Risk Tone: Neutral",
if growthLead > 0.3 and growthLead > valueLead then GlobalColor("Buy2") else
if valueLead > 0.3 and valueLead > growthLead then GlobalColor("Sell2") else
if growthLead > 0 and valueLead > 0 then GlobalColor("Buy0") else
if growthLead < 0 and valueLead < 0 then GlobalColor("Sell0") else
GlobalColor("Neutral")
);
#-------------------------------
# ECONOMIC TONE (Modern TRAN Interpretation)
#-------------------------------
def TRAN = close("TRAN");
def SPYc = close("SPY");
# Relative Strength vs SPY (10-day)
def RS_TRAN = TRAN / SPYc;
def RS_TRAN_10 = RS_TRAN / RS_TRAN[10] - 1;
# Momentum (10-day deviation)
def MA10_TRAN = Average(TRAN, 10);
def Dev10 = (TRAN - MA10_TRAN) / MA10_TRAN;
# RSI (Wilder)
def NetChgAvg = WildersAverage(TRAN - TRAN[1], 14);
def TotChgAvg = WildersAverage(AbsValue(TRAN - TRAN[1]), 14);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def RSI_TRAN = 50 * (ChgRatio + 1);
AddLabel(
showMarket,
"Economic Tone: " +
(if RS_TRAN_10 > 0.02 and Dev10 > 0 and RSI_TRAN > 55 then "Strong"
else if RS_TRAN_10 > 0 and Dev10 > 0 then "Improving"
else if RS_TRAN_10 < -0.02 and Dev10 < 0 and RSI_TRAN < 45 then "Contracting"
else if RS_TRAN_10 < 0 and Dev10 < 0 then "Weakening"
else "Neutral"),
(if RS_TRAN_10 > 0.02 and Dev10 > 0 and RSI_TRAN > 55 then GlobalColor("Buy2")
else if RS_TRAN_10 > 0 and Dev10 > 0 then GlobalColor("Buy0")
else if RS_TRAN_10 < -0.02 and Dev10 < 0 and RSI_TRAN < 45 then GlobalColor("Sell2")
else if RS_TRAN_10 < 0 and Dev10 < 0 then GlobalColor("Sell0")
else GlobalColor("Neutral"))
);
#-------------------------------
# HIDDEN ANCHOR
#-------------------------------
plot Anchor = 0;
Anchor.Hide();
#===========================================================
# HOW TO READ THIS PANEL
#-----------------------------------------------------------
# This panel gives a quick, honest read of the overall market.
# It does NOT tell you what to trade — it tells you where the
# money is flowing so you can make better decisions.
#
# 1. VOLD (Up/Down Volume)
# - Shows broad buying or selling pressure across the market.
#
# 2. Index Ratios (S&P, DJI, QQQ, R2000, NYSE)
# - Green = more buying volume than selling volume.
# - Red = more selling volume than buying volume.
# - Bigger numbers = stronger conviction.
#
# 3. Market Pulse
# - Broad Buying = strong, unified market.
# - Mild Buying/Selling = leaning one way, but not strong.
# - Mixed/Fragmented = no agreement; choppy conditions.
#
# 4. Leadership Tilt (Tech vs Small Caps vs SPY)
# - Tech Leading = growth stocks driving.
# - Small Caps Leading = risk-taking in smaller names.
# - Broad Risk-On = both are strong.
# - Broad Risk-Off = both are weak.
#
# 5. Risk Tone (Growth vs Value)
# - Risk-On = Money flowing into growth, small caps,
# and high-beta stocks.
# It does NOT mean “dangerous” — it means
# the market is favoring risk assets.
# - Risk-Off = Money flowing into value, defensive sectors,
# and safer names.
#
# 6. Economic Tone (Transports vs SPY)
# - Strong/Improving = real economy participating.
# - Weakening/Contracting = transports lagging; economic softness.
# - Neutral = no clear signal.
#
# Use this panel as a narrative guide:
# It tells you *where* the market is leaning, not what to buy.
#===========================================================
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