Sector Rotation Indicator for ThinkorSwim

[FellowTrader]

Thanks autolox.. just wondering if a watchlist column would be better not to visit other sites and all in one place

 

[autolox]

Thanks autolox.. just wondering if a watchlist column would be better not to visit other sites and all in one place

The watchlist would be made up of the sector symbols listed from the web site I posted (SelectSPDR..). With net change on the watchlist you would see which are performing best. It's conceivable to make a custom column that has sector weight information if you want it.

 

[autolox]

Thanks autolox.. just wondering if a watchlist column would be better not to visit other sites and all in one place

http://tos.mx/CpW0hbN - This share link *might have some more symbols than just the X's. As far as weightings go, if you wanted that to show up for each symbol, it could probably be done using a combination of "GetSymbol()" and a nested if then so that the proper weightings could show up for each symbol. Generally though, Technology is the lead weighting with the others following in a fairly consistent order. Doing this would involve adjusting weightings sourced from the sectoSPDR site with some regularity, perhaps weekly or so. I would think if any significant adjustments are made they would be seen in headlines well ahead of them going active.

At the selectSPDR link, you just "scroll" on the main page and you can see the weightings for each of the X funds at the single site. You don't have to move around to multiple sites IF sector fund weighting is your only interest. Now, if you want weightings of names within the X funds or the summary of weightings in the SPY overall, yes, you would have to visit two separate sites but I think you could "get away" with a weekly review and be fine. Extreme diligence would be tracking all of this on a daily basis and analyzing that dataset regularly for the pace of change. There are a lot of in depth ways you can "skin this cat", but if you just want to have a rough idea of what sectors are performing best, the watchlist with these funds is a pretty quick and easy way. On the watchlist image, I shared it before sorting by the net change column which is simply done by just clicking the column header which allows you to sort by that specific column in ascending or descending order.

Just to expound on the net change idea, per that column Tech, Consumer Discretionary, Communications, healthcare, Industrials, Financials and real estate were the "green sectors" for today. Now, we can peal the onion back some and say "Ok, so, what is 'net change'?" - we know this is simply how far above the previous day's close an instrument is trading. My personal preference is taking a look at whether the previous days high is broken or not. It is possible to break previous days low yet finish with a positive net change, thus my personal greater interest in whether we have held previous lows and broken previous highs over just watching net change, but, please, do whatever and work with whatever improves your account statement. I'm just sharing what I consider to work for me...

Back along the "not visit other sites" mention - ToS does not store sector weightings anywhere the I know of. Therefore, if you want that information readily available, I don't think there are any methods that would allow you to "automate that into" Tos. As I'm writing this though, I just remembered something that you might find useful that I had kinda forgotten about. Apologies if this is old news to you... ToS does have access to a set of heat maps and the S&P and other indices are included. This is available uner the "MarketWatch" tab and "Visualize". I assume the size of the blocks in the visualization is an indication of the instruments weight in that sector. Maybe this is a adequate and simpler approach vs what I've been describing. At the end of the day, it just depends on how deep you want to go into this rabbit hole to understand the mechanics of what's being presented. I consider that to be the reason I've studied all of these things as I have.

Hope all this helps!

 

[FellowTrader]

Thanks Much .. Appreciate the great explanation . Will check the link out and get back to you.