Motivated by a characterization of weakly compact cardinals due to Todorcevic, we introduce a new cardinal characteristic, the [Formula: see text]-sequence number, which can be seen as a measure of the compactness of a regular uncountable cardinal. We prove a number of [Formula: see text] and independence results about the [Formula: see text]-sequence number and its relationship with large cardinals, stationary reflection, and square principles. We then introduce and study the more general [Formula: see text]-sequence spectrum and uncover some tight connections between the [Formula: see text]-sequence spectrum and the strong coloring principle [Formula: see text], introduced in Part I of this series.