Market Conditions Index

What it measures

Four things, each mapped to 0–100 with 50 as neutral, then averaged:

• Trend — how far price sits from its own 21-bar average, measured in standard deviations so assets at very different prices are comparable.
• Momentum — RSI(14), Wilder's smoothing.
• Participation — the share of volume that was buyer-initiated. Most feeds can't tell you this; the exchange publishes taker-side volume, so it is measurable rather than inferred.
• Breadth — how many of the tracked assets are holding above their own average. One asset running while the rest sag is a different market from all of them rising together.

Volatility is reported beside the composite, not inside it. A violent market is not a bullish or a bearish one, so folding it into a directional score would be a category error. It tells you how much conviction to place in the rest.

What it deliberately does not do

It does not say buy or sell, and that is a design decision rather than caution. Every component is published next to the headline precisely so you can see what moved it, disagree with the weighting, and reach your own conclusion. A single number that hides its inputs is asking to be trusted; this one is asking to be checked.

The four components are equally weighted. That is a deliberate default: there is no backtest behind this, and weights tuned by eye would be a claim the evidence doesn't support. Equal weighting says only that these four things matter, which is all that is currently demonstrable.

Reading it honestly

The index describes the last few hours of tape. It has no view on what happens next, no model of why anything moved, and no knowledge of anything outside price and volume — no news, no positioning, no liquidations. A high reading in a thin market means less than a moderate one in a deep market, which is exactly why volatility sits next to it.

Data is public exchange data, refreshed every five minutes while the page is open and cached so every reader shares one fetch. Nothing about you is sent anywhere.