MAG7 and VIX

6 日前

MAG7 and VIX is a institutional-grade market breadth and sentiment dashboard designed specifically for Nasdaq (NQ) traders. Instead of relying on a single price chart, this indicator provides a "look under the hood" of the market by tracking the volatility of the entire index and the individual performance of the seven stocks that drive over 40% of the Nasdaq 100's movement.

Core Components
1. The Fear Gauges (Volatility Monitoring)
This section tracks the VIX (S&P 500 Volatility) and VXN (Nasdaq Volatility).

The Logic: Volatility and price usually have an inverse relationship.

Risk-On: When these numbers are Green (negative %), volatility is dropping, which usually provides a "tailwind" for stocks to rise.

Risk-Off: When these numbers turn Red (positive %), fear is entering the market, often preceding a sharp sell-off or indicating that a rally is built on "shaky ground."

2. Tech Leaders (Market Breadth)
This monitors the Mag7 (NVDA, AAPL, MSFT, AMZN, GOOG, META, TSLA). The dashboard calculates a Weighted Average of these leaders to show the true strength of the "engines" behind the NQ.

Weights: NVDA, AAPL, and MSFT are given 1.5x weight because their market caps have the highest impact on the index.

Individual Heatmap: Each stock has its own cell that changes color based on its performance relative to the daily open.

Using the Dashboard for Divergence Trading
The primary value of this indicator is spotting Divergence, which occurs when the NQ price is lying to you but the internal data shows the truth.

Bearish Breadth Divergence: The NQ hits a new high, but the Tech Leaders Average is negative, and most individual cells (like NVDA or MSFT) are red. This indicates the move is "thin" and likely a bull trap.

Bullish Breadth Divergence: The NQ is flushing to new lows, but the Tech Leaders are starting to turn green or the Fear Gauges are rapidly dropping. This often signals that a bottom is being put in.

Dashboard Placement & Aesthetics
Top Center Positioning: Placed by default at the top-center of your chart to keep your eyes on the price action while maintaining peripheral awareness of the macro data.

Large UI: Designed for high-resolution screens so you can read the percentage shifts without squinting during fast-moving "Turbo" sessions.

Real-Time Updates: The data is fetched dynamically using request.security, ensuring the "Heatmap" reflects current intraday strength rather than just yesterday's close.

6 日前

リリースノート

The Alpha NQ: Macro & Tech Leaderboard is an institutional-grade sentiment and market breadth dashboard designed for Nasdaq (NQ) traders. It provides a real-time "look under the hood" of the index by tracking the two most critical drivers of price action: Volatility (Fear) and Mega-Cap Tech Performance (Breadth).

Instead of looking at NQ in a vacuum, this dashboard allows you to see if the internal "engines" of the market are supporting the price action you see on your main chart.

1. Fear Gauges (Volatility Monitoring)
Located on the left side of the top row, this section tracks the VIX (S&P 500 Volatility) and VXN (Nasdaq Volatility).

The Logic: Price and Volatility generally move in opposite directions.

Risk-On (Green %): Indicates volatility is contracting. This creates a "tailwind" for the NQ, making it easier for prices to sustain a rally.

Risk-Off (Red %): Indicates volatility is expanding. This suggests fear is entering the market, often acting as a "headwind" that leads to sharp sell-offs.

2. Tech Leaders (Market Breadth)
Located on the right side of the top row, this displays a Weighted Average of the "Magnificent 7" (NVDA, AAPL, MSFT, AMZN, GOOG, META, TSLA).

Weighted Logic: Since NVDA, AAPL, and MSFT have the largest market caps, they are weighted more heavily (1.5x) in the calculation to accurately reflect their impact on the NQ.

Individual Heatmap: The second row provides a ticker-by-ticker breakdown. Each cell changes color based on the stock's performance relative to its daily open, allowing you to see which specific "engine" is failing or leading.

3. Dynamic Market Bias (The "Alpha" Cell)
The final cell on the bottom right is the brain of the dashboard. It analyzes the relationship between Tech Leaders and Volatility to provide a real-time verdict:

RISK ON: High-confidence buying. Tech is up, and Fear is down.

RISK OFF: High-confidence selling. Tech is down, and Fear is up.

DIVERGENT: The "Danger Zone." This occurs when price and volatility move in the same direction. For example, if NQ is rising but the Fear Gauges are turning red (rising), it suggests the move is "unhealthy" and likely a trap.

NEUTRAL: The market is in a state of chop or indecision.

Strategic Use: Spotting Divergence
The primary edge this dashboard provides is the ability to spot Divergence before it shows up in the price candles.

Bearish Breadth Divergence: You see NQ making a new high on your chart, but the TECH LEADERS average is negative and several individual cells (like NVDA) are red. This indicates "thin" participation and a high probability of a reversal.

Hidden Strength: NQ is flushing lower, but the FEAR GAUGES are rapidly turning green (dropping). This suggests the selling is exhausted and a "V-bottom" recovery may be imminent.

Technical Features
Top-Center Default: Positioned to stay in your line of sight without covering up critical price action.

Large UI Scalability: Optimized for 4K and large trading monitors to ensure data is readable during high-speed "Turbo" sessions.

Real-Time Data Fetching: Uses Pine Script request.security logic to ensure that every percentage change is calculated based on live intraday data rather than delayed daily closes.