Market Sentiment - Historic Movement & Pending Orders

The "Market Sentiment Osc" is a custom trading indicator designed to assess market sentiment based on bid-ask and tick-based data. This oscillator aggregates data from two key sources:

It measures the balance between market upticks, market downticks, cumulative bids and cumulative asks. By doing this we are attempting to guage sentiment by combining the actions that have happened in the past as well as the pending actions the market is willing to make.

The indicator combines these two components to form a composite oscillator that highlights shifts in market sentiment. When the composite value is positive, it suggests a bullish trend, while a negative value indicates bearish sentiment.

The Hoodie Market Trend is plotted as a histogram, with color coding:

Green: Bullish momentum (positive values).
Red: Bearish momentum (negative values).
Additionally, the user can toggle the histogram visibility with the provided input option.

This oscillator can be applied across various timeframes and stock symbols without allowing for symbol customization, making it a simple yet effective tool for market trend analysis. The zero line (purple) serves as a reference point to gauge whether the market is in a bullish or bearish phase.