What is market sentiment indicator?

Whereas the TWhereas the Trend, Overbought/Oversold, and Volatility gauges are based on Technical and Fundamental analysis, the Market Sentiment indicator is unique in that is it is based solely on sentiment or what other traders 'feel' about the market.rend, Overbought/Oversold, and Volatility gauges are based on Technical and Fundamental analysis, the Market Sentiment indicator is unique in that is it is based solely on sentiment or what other traders 'feel' about the market.