Market Sector Scanner/Screener With MOM + RSI + MFI + DMI + MACD

The Market Sector Scanner/Screener With MOM + RSI + MFI + DMI + MACD tool provides a real-time dashboard that monitors multiple technical indicators across a user-defined list of up to eight financial assets.

Usage

The Market Sector Scanner is designed to provide a high-level overview of market sentiment across a specific sector or a custom watchlist. Users can monitor the status of Momentum (MOM), Relative Strength Index (RSI), Money Flow Index (MFI), Directional Movement Index (DMI), and Moving Average Convergence Divergence (MACD) simultaneously.

• Sector Analysis: Set up symbols belonging to a specific sector (e.g., top 9 tech stocks or major crypto pairs). When the entire grid turns green or red, it indicates strong directional consensus across that sector.
• Trade Management: Use the grid to determine trade duration. If you are in a long position and the grid remains predominantly green, it suggests the trend is intact. Mixed colors may indicate indecision or an impending reversal.
• Multi-Asset Monitoring: Instead of cycling through multiple charts, the dashboard allows for constant monitoring of several tickers on the current timeframe.

Details

The indicator calculates five core technical oscillators for every ticker defined in the settings:

• Momentum (MOM): Measures the change in price over a set period. Values above zero are bullish (green), and below zero are bearish (red).
• Relative Strength Index (RSI): Measures the speed and change of price movements. Values above 50 are bullish, while values below 50 are bearish.
• Money Flow Index (MFI): An oscillator that uses both price and volume to measure buying and selling pressure. Values above 50 are bullish, while values below 50 are bearish.
• Directional Movement Index (DMI): Evaluates trend direction by subtracting DI- from DI+. A positive result is bullish; a negative result is bearish.
• MACD: Uses the MACD histogram line (difference between MACD and Signal). Positive values indicate bullish momentum, while negative values indicate bearish momentum.

The "Ticker" column background changes color based on the confluence of all indicators:

• Green: All five indicators for that ticker are bullish.
• Red: All five indicators for that ticker are bearish.
• Blue: Mixed signals (a combination of bullish and bearish values).

Settings

Table Settings

• Turn Table On/Off: Toggles the visibility of the dashboard on the chart.
• Table Position: Selects the corner or center area of the chart where the table will be anchored.

Indicator Settings

• Indicator Source: The price source (e.g., Close) used for calculations.
• Momentum Length: The lookback period for the Momentum calculation.
• RSI Length: The lookback period for the RSI calculation.
• MFI Length: The lookback period for the MFI calculation.
• DMI Length/Smoothing: Period and smoothing parameters for Directional Movement.
• MACD Settings: Fast length, slow length, and histogram smoothing parameters.

Tickers To Scan

• Ticker #1 - #8: Input fields to define the symbols you wish to monitor. These can include Stocks, Crypto, Forex, or Futures.

FAQ

How do I change the assets being scanned?

You can update the symbols in the "Tickers To Scan" section within the indicator settings. Ensure you use the proper exchange prefix (e.g., NASDAQ:AAPL).

Can I use this on any timeframe?

Yes, the scanner pulls data based on the timeframe currently active on your chart. If you switch from a 1-hour to a 5-minute chart, the scanner will update all values to the 5-minute data.

How can I access Market Sector Scanner/Screener With MOM + RSI + MFI + DMI + MACD?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.