Percentage of Stocks Above a Moving Average

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I’d like to plot a line chart of the percentage of stocks in an index above a moving average. Particularly the percentage of stocks in the S&P500 above the 50SMA. Thanks for any help you can provide.

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Posted by (Questions: 5, Answers: 1)
Asked on November 30, 2021 1:37 pm
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Nearly impossible to do something like this on the current version of Thinkorswim. The solution would require that you include all 500 ticker symbols in your chart study, compute the moving average for each and then compute the percent of the all 500 tickers that above that moving average.

Even if such a solution would work, the time it would take me to provide a solution exceeds the 15 minutes I allocate to providing each free solution in the Q&A Forum.

And trying to write a chart study to compute the moving average for 500 individual ticker symbols would very likely exceed the processing power of the Thinkorswim platform.

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Posted by (Questions: 37, Answers: 4118)
Answered on November 30, 2021 2:38 pm
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I was thinking I could make a watchlist of the 500 stocks in the S&P and scan that watchlist for the stocks above the 50SMA. The resulting scan will give the number of stocks meeting that criteria. I can divide that number by 500 and get the percentage. Trying to plot that as an upper (or lower study chart) is what stumped me. Thanks for your time and speedy response.
( at December 1, 2021 5:50 am)
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The only option is to manually draw the line on your chart. There is no way to automatically get that data from the scan into the chart. And there is no way to form a historical data set that plots the changing values over time. I received a similar request from a paying client a few weeks ago so I have already researched this and found it to be impossible. You can do this in a few other trading platforms but pretty much impossible to do in Thinkorswim.
( at December 1, 2021 7:36 am)
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