This indicator is for the Johannesburg Stock Exchange (JSE) and indicates the number of stocks in the Top 40 Index above its selected Smooth Moving Average (SMA). Typically the 200SMA is used to see the longer term health of the market and the 50SMA for a short term view. Currently the market has reached a point that less than 2% of stocks were above their 200SMA which is the lowest since 2013.
great how can we make this for stocks more than 40? like i want to make this for 100 stocks
SteynTrade
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@majidzia444, You can just add or change securities in the code. However, in South Africa I don't think it makes much sense. The Top 40 is dominated by only a few major stocks and even the Top 40 is probably too many to show if there is money flowing in or out of the market.
EarthSQ55
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So much heavyweight coding,but i still love your idea for my inspiration on my own country index so much. Thank you :)
Pratik_4Clover
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Lovely, used this to create customized version for my home market. Thank you:)