Global Trend [BEA]Do you Ever Wonder How world Market/indices are Performing Before your Market Open?
This indicator consist of 30 Major global indices and 10 local Indices which will help you get a idea of the direction of the global markets. So basically I have calculate the % change for each bar, then I am calculating the weightage of positive change with respect to total % change for all four markets separately .
How to use this indicator?
As per my experience , each regional market will follow the global trend , so I think the the local markets will tends to converge towards the average of all four market trend ( I am situated in Asia , so you need to do your own research before using this indicator )
Following four markets are being plotted :
American Market
Asian Market
European Market
Local Market
I have provided inputs to select the indices , you can change the local index as per your location.
You can choose whichever market trend you want to display.
In the following image i have selected the American market and Local market
In the following image i have selected the American market and Local market
Sources & refences :
Big thank to www.pinecoders.com and kodify.net
DISCLAIMER
Any and all liability for risks resulting from investment transactions or other asset dispositions carried out by the user based on information received or a market analysis is expressly excluded by me.
All the information made available here is generally provided to serve as an example only, without obligation and without specific recommendations for action. It does not constitute and cannot replace investment advice. We therefore recommend that you contact your personal financial advisor before carrying out specific transactions and investments.
Do your own research, This is not a financial advice.
Asianmarkets
World Markets Open/Close BackgroundIndicator fills background color on the chart for different markets around the world.
This can be helpful in some markets to understand after hours and premarket price action. User can study if there is correlation between highs/low in whole session or open/close of different markets.
Tokyo, Hong Kong and Shanghai are Asian Markets in Red are combined
Bombay, London and NYSE are individually plotted.
Times can be changed for each session to include the entire session, or selected block of 15 minutes.
Less than 15 minutes will need to be changed in the default value of the code which is why I'm publishing it open source.
All coded default times for each market are in CST.
Background color can be turned off individually under the Style tab, and can also be unchecked under Inputs and can just be used for source for further coding.
My intentions for this script is to use it and its variable value to plot the highs and lows just in the specific times in a session and to more easily visualize those sessions with color coding.
I hope this is useful
Cheers!
