In order to get a sense of the overall market direction while doing 0DTE in stocks in the US, I can observe the general trend of the ticker “TICKQ” (check on Tradingview)
It appears there is no counterpart for Indian markets. Is it possible to have something like this? I would assume that several tickers of this sort would be needed as a particular stock may correlate to a particular sector and not the entire market, so when sector rotation of any sort is in play then the overall market ticker may not be the right reference. I am unsure on this part, though.
Can someone raise a request to exchanges in India to maintain a ticker like this? Or, is this something that Tradingview can maintain on their side? What would be ideal?
Finally, it did came across me that I could create my own indicator, but there would be severe limitations and potential reliability problems.
If you can afford time for the retailers, I would like to also point towards a few other things.
As a general observation, the entire suite of tools are needed around the aspect of market breadth. I could not find things, apart from TICKQ (and alike), ADR (Advanced Decline Ratio), ADL (Advanced Decline Line), something similar to VOLD (ticker “USI:VOLD”), and so on.
When these are present, retailers can make much more informed decisions, you can expect potentially increased participation, as well as the field is slightly more neutral for everyone.