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TSP Sentiment Survey - Percentage of Bullish and Bearish Traders
TSPTalk.com publishes a weekly survey that asks investors whether they think the S&P 500 is bullish or bearish. The percentage of bullish and bearish traders as well as the TSP trading strategy mode are downloaded from TSP website. The Excel file is parsed then three symbols are created and added to your database.
^TSP_Bulls: This is the percentage of traders who have a bullish sentiment regarding the future of the S&P 500 Index.
^TSP_Bears: This is the percentage of bearish traders
^TSP_Signal: This symbol tells you whether to use the bullish market rules (Value = 1), or the bearish market rules (Value = 2). More info in the next paragraph.
There are two types of rules in the trading system. The bull market rules are used when the 50-Day exponential moving average of the S&P 500 index is above the 200-day exponential moving average. Otherwise, the bear market rules are used to generate Buy/Sell signals.
In either case, the Bulls to Bears ratio is calculated and depending on its value and on the market rules previously chosen, a trading signal is generated for the following week. For more info about how this trading system works: http://www.tsptalk.com/sentiment_survey_rules.html
The Bulls to Bears ratio is calculated and depending on its value and on the market rules, a trading signal is generated for the following week. For more info about how this trading system works: http://www.tsptalk.com/sentiment_survey_rules.html
How to display the bulls to bears ratio on a chart
Right click on a chart, create a new pane, edit its formula then type the following lines:
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
