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Breadth Radar

Q: Is this connected to Michael Burry?

It was inspired by his October 2026 Substack post, but ChartArmory built it independently.

Q: Do signals change afterward?

It decides on closed daily bars and fills at the next open, so it never repaints.

A daily breadth indicator for index charts

Flags the narrow top: the index at a record while half its stocks are already down.

$59.00One-time payment · Perpetual personal use

Add to my chart

What you get

Complete Pine Script v6 source
Install guide in 8 languages
Personal-use editing license · no redistribution or resale
30-day bug support
Copy button and ZIP after payment

Delivery & refund policy ↗

BREADTH RADAR / HISTORICAL CASE

Breadth Radar in the dot-com crash: −29.0% avoided

AMEX:SPY · 1D · 1999.12 → 2001.10−29.0%

Holders melted −29.0% over 645 days; it waited in cash and bought back 40.7% more shares with the same money

Worst pain just holding: −33.6%
More shares with the same money: +40.7%

On 27 Dec 1999, at S&P 500 highs, Breadth Radar flagged a hollow top and sold SPY at $146.50.

01 / Out through the record-high illusion1999.12.27$146.50■ · S5TH < 50%
02 / Lowest point2001.09.21$97.28−33.6%
03 / Bought back2001.10.02$104.00▲ · S5TH ≤ 20%

Closed-bar signals, next-open fills, 0.05% cost per side · real TradingView SPY daily record

Download the record used (JSON) ↓

PROBLEM → FIX

These headaches, solved on your chart

Counting 500 stocks against their 200-day line every day until your eyes give out

Open the chart and it reads the share of stocks above the 200-day for you

Toasting the “Nasdaq record high!” headline

Index smiling but hollow inside (over half below the 200-day)? A ■ sell alarm, no mercy

Hands shaking in a bloodbath, not knowing when to buy back

When 20% or fewer stocks stay above the 200-day, the ▲ bottom buy signal lights up

01 / HOW IT WORKS

Three objective rules

■ Narrow top: sell

Index within 3% of its high, under 50% of stocks above the 200-day: sell next day

▲ Panic zone: buy

20% or fewer stocks above the 200-day: buy it all back next day

↺ Wrong-way: buy back

After a sell, the index rises 5% above the sell price: buy back next day

02 / RESULT

Historical backtest

Real TradingView scorecard · daily · price only, no dividends
Market	Start year	Indicator return	Buy & hold return	Indicator max drawdown	Hold max drawdown	Trades
S&P 500 (SPY)AMEX:SPY 1D	1993	$10,000 → $219,000 (21.9×)	$10,000 → $175,000 (17.5×)	−56.5%	−56.5%	17
Nasdaq 100 (QQQ)NASDAQ:QQQ 1D	1999	$10,000 → $307,000 (30.7×)	$10,000 → $141,000 (14.1×)	−53.6%	−83.0%	31

03 / ON YOUR CHART

On a real TradingView chart

WITHOUT THE INDICATOR

The days index-only investors watched accounts melt

The drops you miss watching only the index · TradingView daily scorecards (QQQ since 1999, SPY since 1993)

−83.0%

Nasdaq 100 deepest drop since 1999: Just holding −83.0% → following the indicator −53.6%

−29.0%

Dec 1999 ■ exit ($146.50) to Oct 2001 ▲ re-entry ($104.00): the SPY slide that just holding took.

04 / INSTALL

Install and set up

01Copy or download the code
02Paste into a new Pine indicator
03Add it to a daily chart

Past performance does not guarantee future results.

An independent ChartArmory tool inspired by the breadth readings Michael Burry described in his public newsletter; not affiliated with or endorsed by him.

BREADTH RADAR / FAQ