Sector Labels - Key Risk - Percent Comparison of ETFs

[markos]

Labels to keep you up to Speed on Market Risk

https://tos.mx/BwwQKR

# PctComp - Key Risk ETFs
# 01-22-2017
# Chat request by Blackhatter - Dilbert & Spectrum in TSL

def IWMPctChg = (close("IWM", period = "Day") / close("IWM", period = "Day")[1]) - 1;
AddLabel(1, "IWM" + " = " + AsPercent(IWMPctChg), if IWMPctChg > 0 then Color.GREEN else Color.RED);

def SPYPctChg = (close("SPY", period = "Day") / close("SPY", period = "Day")[1]) - 1;
AddLabel(1, "SPY" + " = " + AsPercent(SPYPctChg), if SPYPctChg > 0 then Color.GREEN else Color.RED);

def EEMPctChg = (close("EEM", period = "Day") / close("EEM", period = "Day")[1]) - 1;
AddLabel(1, "EEM" + " = " + AsPercent(EEMPctChg), if EEMPctChg > 0 then Color.GREEN else Color.RED);

def XLYPctChg = (close("XLY", period = "Day") / close("XLY", period = "Day")[1]) - 1;
AddLabel(1, "XLY" + " = " + AsPercent(XLYPctChg), if XLYPctChg > 0 then Color.GREEN else Color.RED);

def XLPPctChg = (close("XLP", period = "Day") / close("XLP", period = "Day")[1]) - 1;
AddLabel(1, "XLP" + " = " + AsPercent(XLPPctChg), if XLPPctChg > 0 then Color.GREEN else Color.RED);

def XLUPctChg = (close("XLU", period = "Day") / close("XLU", period = "Day")[1]) - 1;
AddLabel(1, "XLU" + " = " + AsPercent(XLUPctChg), if XLUPctChg > 0 then Color.GREEN else Color.RED);

def JNKPctChg = (close("JNK", period = "Day") / close("JNK", period = "Day")[1]) - 1;
AddLabel(1, "JNK" + "  = " + AsPercent(JNKPctChg), if JNKPctChg > 0 then Color.GREEN else Color.RED);

def LQDPctChg = (close("LQD", period = "Day") / close("LQD", period = "Day")[1]) - 1;
AddLabel(1, "LQD" + " = " + AsPercent(LQDPctChg), if LQDPctChg > 0 then Color.GREEN else Color.RED);

AddLabel(1, "IWM - SPY = " + AsPercent(IWMPctChg - SPYPctChg), if IWMPctChg - SPYPctChg > 0 then Color.GREEN else Color.RED);
AddLabel(1, "EEM - SPY = " + AsPercent(EEMPctChg - SPYPctChg), if EEMPctChg - SPYPctChg > 0 then Color.GREEN else Color.RED);
AddLabel(1, "SPY - XLU = " + AsPercent(SPYPctChg - XLUPctChg), if SPYPctChg - XLUPctChg > 0 then Color.GREEN else Color.RED);
AddLabel(1, "XLY - XLP = " + AsPercent(XLYPctChg - XLPPctChg), if XLYPctChg - XLPPctChg > 0 then Color.GREEN else Color.RED);
AddLabel(1, "JNK - LQD = " + AsPercent(JNKPctChg - LQDPctChg), if JNKPctChg - LQDPctChg > 0 then Color.GREEN else Color.RED);

AddLabel(1, "Total = " + AsPercent((IWMPctChg - SPYPctChg) + (EEMPctChg - SPYPctChg) + (SPYPctChg - XLUPctChg) + (XLYPctChg - XLPPctChg) + (JNKPctChg - LQDPctChg)), if ((IWMPctChg - SPYPctChg) + (EEMPctChg - SPYPctChg) + (SPYPctChg - XLUPctChg) + (XLYPctChg - XLPPctChg) + (JNKPctChg - LQDPctChg)) > 0 then color.green else color.red);
#EOC#

 

[drasp]

Labels to keep you up to Speed on Market Risk

https://tos.mx/BwwQKR

# PctComp - Key Risk ETFs
# 01-22-2017
# Chat request by Blackhatter - Dilbert & Spectrum in TSL

def IWMPctChg = (close("IWM", period = "Day") / close("IWM", period = "Day")[1]) - 1;
AddLabel(1, "IWM" + " = " + AsPercent(IWMPctChg), if IWMPctChg > 0 then Color.GREEN else Color.RED);

def SPYPctChg = (close("SPY", period = "Day") / close("SPY", period = "Day")[1]) - 1;
AddLabel(1, "SPY" + " = " + AsPercent(SPYPctChg), if SPYPctChg > 0 then Color.GREEN else Color.RED);

def EEMPctChg = (close("EEM", period = "Day") / close("EEM", period = "Day")[1]) - 1;
AddLabel(1, "EEM" + " = " + AsPercent(EEMPctChg), if EEMPctChg > 0 then Color.GREEN else Color.RED);

def XLYPctChg = (close("XLY", period = "Day") / close("XLY", period = "Day")[1]) - 1;
AddLabel(1, "XLY" + " = " + AsPercent(XLYPctChg), if XLYPctChg > 0 then Color.GREEN else Color.RED);

def XLPPctChg = (close("XLP", period = "Day") / close("XLP", period = "Day")[1]) - 1;
AddLabel(1, "XLP" + " = " + AsPercent(XLPPctChg), if XLPPctChg > 0 then Color.GREEN else Color.RED);

def XLUPctChg = (close("XLU", period = "Day") / close("XLU", period = "Day")[1]) - 1;
AddLabel(1, "XLU" + " = " + AsPercent(XLUPctChg), if XLUPctChg > 0 then Color.GREEN else Color.RED);

def JNKPctChg = (close("JNK", period = "Day") / close("JNK", period = "Day")[1]) - 1;
AddLabel(1, "JNK" + "  = " + AsPercent(JNKPctChg), if JNKPctChg > 0 then Color.GREEN else Color.RED);

def LQDPctChg = (close("LQD", period = "Day") / close("LQD", period = "Day")[1]) - 1;
AddLabel(1, "LQD" + " = " + AsPercent(LQDPctChg), if LQDPctChg > 0 then Color.GREEN else Color.RED);

AddLabel(1, "IWM - SPY = " + AsPercent(IWMPctChg - SPYPctChg), if IWMPctChg - SPYPctChg > 0 then Color.GREEN else Color.RED);
AddLabel(1, "EEM - SPY = " + AsPercent(EEMPctChg - SPYPctChg), if EEMPctChg - SPYPctChg > 0 then Color.GREEN else Color.RED);
AddLabel(1, "SPY - XLU = " + AsPercent(SPYPctChg - XLUPctChg), if SPYPctChg - XLUPctChg > 0 then Color.GREEN else Color.RED);
AddLabel(1, "XLY - XLP = " + AsPercent(XLYPctChg - XLPPctChg), if XLYPctChg - XLPPctChg > 0 then Color.GREEN else Color.RED);
AddLabel(1, "JNK - LQD = " + AsPercent(JNKPctChg - LQDPctChg), if JNKPctChg - LQDPctChg > 0 then Color.GREEN else Color.RED);

AddLabel(1, "Total = " + AsPercent((IWMPctChg - SPYPctChg) + (EEMPctChg - SPYPctChg) + (SPYPctChg - XLUPctChg) + (XLYPctChg - XLPPctChg) + (JNKPctChg - LQDPctChg)), if ((IWMPctChg - SPYPctChg) + (EEMPctChg - SPYPctChg) + (SPYPctChg - XLUPctChg) + (XLYPctChg - XLPPctChg) + (JNKPctChg - LQDPctChg)) > 0 then color.green else color.red);
#EOC#

can this indicator be elaborated on and on how its used?
if the total is negative does that mean that the market is bearish? or does it mean risk off? etc.
I'm curious to know more.

 

[MerryDay]

can this indicator be elaborated on and on how its used?
if the total is negative does that mean that the market is bearish? or does it mean risk off? etc.
I'm curious to know more.

It displays which sectors are trending and which are not.

How to use:
If a stock correlates with its index closely, one would not look for a bullish setup, if its sector is doing poorly.

 

[drasp]

It displays which sectors are trending and which are not.

How to use:
If a stock correlates with its index closely, one would not look for a bullish setup, if its sector is doing poorly.

theres something called a total at the end, I guess thats what throws me off. As well as EEM - SPY and SPY - XLU

 

[MerryDay]

theres something called a total at the end, I guess thats what throws me off. As well as EEM - SPY and SPY - XLU

The first is lets you know overall bull or bear.
The second are just added comparisons to show who is trend-iest

 

[Mr_Wheeler]

I book marked this. Related script. I don't use it. I'll probably bookmark this new indicator as well.

https://usethinkscript.com/threads/sector-rotation-indicator-for-thinkorswim.845/