Measure market extremes in TradingView.

1. Ranks reads SPY on its own

In the middle pane, Ranks shows SPY’s overbought or oversold strength as numbered, coloured bars. Below zero means oversold; above zero means overbought; zero is neutral. A longer bar, farther from zero, represents a stronger reading.

At the Extreme candle, SPY’s Rank is −7. This describes SPY’s own oversold condition under the selected settings. It is not a percentage decline or a count of seven indicators agreeing.

2. The green triangle marks a loaded-history Extreme

The triangle marks SPY reaching its strongest oversold-side Rank so far in the loaded history. The preceding −6 candle also qualifies; this illustration shows only the −7 triangle for focus.

An Extreme is a historical comparison, not a confirmed price bottom. Different history, settings or chart context can change which readings qualify.

3. Screener creates seven separate comparisons

In the lower pane, Screener uses Chart/List mode to compare SPY against NVDA, AAPL, GOOGL, MSFT, AMZN, META and TSLA. It automatically creates a price ratio for each pair and calculates its Rank.

SPY/NVDA means SPY’s price divided by NVDA’s price. Its +3 Rank describes an overbought ratio, so NVDA is relatively oversold versus SPY. SPY/AAPL is +2, a weaker reading in the same direction. The other five comparisons are 0, or neutral.

These are comparison readings, not NVDA’s or AAPL’s own standalone Ranks. The numbered list orders the two relative oversold readings, not future returns.

4. Total Rank combines the included readings

With No Filter, No Cap and Mean, all seven Ranks, including the five zeros, contribute to the average:

(3 + 2 + 0 + 0 + 0 + 0 + 0) ÷ 7 ≈ +0.71

This small positive Total Rank summarizes the list’s relative condition. Read it alongside the individual rows. Filter, Cap or Center settings can change the summary.

5. Read the two indicators together

SPY’s −7 describes its own chart. The positive pair Ranks describe SPY relative to NVDA and AAPL.

Both can be true: SPY is oversold on its own, while NVDA and AAPL are oversold relative to SPY. Screener adds comparative context; it is not simply repeating SPY’s chart Rank.

6. Follow what happened next

The next 15 candles include dips and a later rebound. Each stock’s coloured line starts at the Extreme candle. Rank bars and the Screener table follow the highlighted candle; the gold column is a teaching marker, not an indicator signal.

At the final candle on April 9 at 16:00 UTC, SPY’s Rank, all seven pair Ranks and Total Rank are 0. Their readings are neutral, but their prices have not necessarily returned to the starting point.

This is one selected historical example, not a prediction or evidence of typical results. Stronger Ranks do not make a reversal more certain.