Risk-On - Risk-Off 3 Alarm System V2

📍 Risk-On / Risk-Off Alarm Labels
This overlay indicator visually displays the activation status of three key risk criteria directly on the chart using colored labels:

Trend – Flagged red when price is below the 20-day EMA.

Breadth – Flagged red when net new 52-week highs (NASDAQ + NYSE) are negative.

Momentum – Flagged red when the PPO histogram is negative.

The top label shows the total number of risk-off criteria active (0 to 3).
Green dots = condition favorable (risk-on).
Red dots = condition unfavorable (risk-off).

Use this for fast visual confirmation of market conditions and to support allocation or de-risking decisions.