What
This interactive dashboard visualizes “new high/low” stock lists to show relative sector strength as driven by individual stocks. The first two visuals are built by categorizing stocks hitting new highs and lows from TradingView Screeners into their sectors, and then integrating the totals over time. The sector breakdown panel allows you to drill down into a strength or weakness of interest and view the industries and individual stocks driving that performance.
Why
The stock market can be grouped into slices of companies that have similar lines of business, and the highest level grouping of this type is called a sector. These high level sectors are then further divided into industries. Why do we care about these groupings? Stocks within the same sector and industry groups tend to trend together, and as the old adage goes, “trend is your friend”. But according to Hoenig and Hayashi, it goes beyond that, as they dedicate a section of their book to explaining how it is vital to understand the market conceptually, and to group stocks by their distinguishing characteristic:
At any one moment we can see and comprehend a small handful of stocks or indices. But one cannot visualize thousands of stocks and indicators individually. We must reduce that sum into smaller units by grouping them by their distinguishing characteristics.
These sector and industry group’s give us one logical method for grouping. Another book, from great trader M. Minervini, has a section explaining how industry groups lead new bull markets, so you want to follow the leaders:
How do you find which groups are leading? Follow the individual stocks. I like to track the 52-week new high list. The industry groups with a healthy number of stocks hitting new highs early in a bull market will often be the leaders. Your portfolio should consist of the best companies in the top four or five sectors.
This dashboard lets you keep tabs on sectors and industries, while moving from a conceptual level (sector/industry) down to the concretes (stocks) through its interaction capabilities.
Interaction Capabilities
- Tap any panel in the dashboard to expand/collapse an associated section and chart
- To filter in/out a sector on any chart, just click a sector legend item.
- The recent history bar chart is connected to the sector breakdown panel. To drill down into sectors, select any bar on the chart and the industry breakdown panel will automatically update with your selection.
- The sector breakdown panel produces a doughnut chart and table with tickers. The table is searchable by clicking a doughnut slice or by typing. The table is also sortable by clicking a heading, and can be exported to csv with buttons at the bottom of the page.
- Further details are provided with each chart by using the “Expand Details” button.
This dashboard is updated daily on trading days after close. All stock sector assignments required for analysis are based on TradingView stock classifications.
This chart shows the calculated new highs/lows differential of stocks (y-axis) by sector and chosen time period. Click the “Expand Details” for full explanation.
- The chart is made by doing an analysis of stocks hitting new highs and lows utilizing TradingView Screeners . Data is analyzed after market hours each trading day. Miscellaneous sector is not included.
- Each day, a total count of the number of stocks hitting a new low is subtracted from the total of stocks hitting a new high in the specified time frame to come up with the differential (+/-) total. For example, on Monday, if 20 Technology sector stocks hit a new 1m high, and 10 Technology stocks hit a new 1m low, the +/- for that day is 10.
- By default, a moving average of the +/- is then calculated to produce the line over time, but you can change the line to show the Raw +/- for each day by clicking the “Moving AVG.” button.
- Use the time period button group (1m, 3m, 6m, or 12m highs) to draw the chart with desired time frame.
- Press on a sector legend item(s) to hide/unhide sector(s) lines.
- Note: Due to the nature of sectors, mainly that the total # of stocks in each sector is different, the +/- is not a perfect way to compare sector strength. There are other issues with trying to normalize the data, so +/- is still my preferred method, but keep this in mind when drawing conclusions.
This chart shows the # of stocks recording highs or lows (y-axis) by trading day (x-axis) within the chosen time period. Clicking any bar on the chart will automatically update the sector breakdown panel below. Click the “Expand Details” button below for a detailed explanation.
- The chart is made by doing an analysis of new highs and lows data (utilizing TradingView Screeners). Data is analyzed after market hours each day.
- Use the “Highs/Lows” button group to change between showing stocks hitting new highs and lows.
- Use the time period button group (all, 1m, 3m, 6m, or 12m highs) to draw the chart with desired time frame. For example, if the “1m” button is selected, the chart will just show the # of stocks hitting new 1 month highs or lows.
- Press on a sector legend item(s) to hide/unhide sector(s) in bars.
- This chart is connected to the sector breakdown panel below. To drill down into sectors, select any bar on the chart, and the sector breakdown will populate accordingly.
| Ticker | Industry | Vol* | 5d Tot. | d1 | d2 | d3 | d4 | d5 |
|---|
- This breakdown is connected to the bar chart panel above. Click any bar on the chart, and this section will automatically populate based on your selection.
- Once the panel is populated, you can click a doughnut slice to sort the table by industry.
- The table search is a search on the entire table. For example, start typing the industry you are interested in and the table will filter on that industry.
- Each ticker in the table has a link to the TradingView stock page.
- Descriptions for columns in table:
- Ticker = stock ticker
- Industry = industry stock belongs to according to Yahoo Finance
- Vol* = 10d average volume for the stock
- 5d Tot. = Of the past 5 days, how many of those days did the stock make a new high in your chosen time frame
- d1, d2, d3, d4, d5 = Shows you what days the stock made a new high. For example, if the 5d Tot. value is 5, then all of these days will have an x in them.
This heatmap shows stocks appearing in the high lists for the *first* time (not seen on lists for 30 trading days). Click a period button to draw the heatmap for the desired high timeframe. Click a tile to view the stocks.
Disclaimer
The accuracy of this data (and all data on this website) is not guaranteed. Data collected, analyzed, and shown anywhere on this site can have errors. All data and analysis shown on this site are not intended to be used toward any financial decisions.
What data is used for this dashboard?
High/Low Daily Lists: TradingView Screeners
What technology is used for this dashboard?
Backend for data collection & analysis: Python
API for general market data: IEX Cloud
API
General Frontend Technologies: Javascript and jQuery
Charting libraries: Chart.js
Styling libraries: Bootstrap
Table Library: DataTables library
Why are high/low number sums not exactly matching what I see on TradingView?
There are a few potential reasons:
1. My data excludes Miscellaneous sectors. You would need to setup the screener to exclude these
to match my data.
2. Each day after close, TradingView screens are ran and analyzed only once around 4:15pm. It is
possible TradingView screens will produce different results
after these charts are built depending on the settings of your screener and stock price movement
after close.
Why don’t you use sector indices or ETFs to track performance?
Indices or ETF panes may be added to the dashboard later, but they are not a priority because they are more likely to be lagging indicators of sector and industry strength than leading. Analyzing the price movement of all individual stocks allows us to see the very moment that stocks within a category start breaking out. These first breakout stocks may be small cap or micro caps that may not move an index or sector by themselves. Although this dashboard is a macro level view, it is purposely built from the ground up, i.e., from the basic building block, the individual prices (stocks) in the market.
Additional Questions or Feature Requests
Please contact me via Twitter to chat about any features or content!
For stocks: @LukeHeide1
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