OPEN-SOURCE SCRIPT
S&P Bear Warning Indicator
THIS SCRIPT HAS BEEN BUILT TO BE USED AS A S&P500 SPY CRASH INDICATOR ON A DAILY TIME FRAME (should not be used as a strategy).
THIS SCRIPT HAS BEEN BUILT AS A STRATEGY FOR VISUALIZATION PURPOSES ONLY AND HAS NOT BEEN OPTIMIZED FOR PROFIT.
The script has been built to show as a lower indicator and also gives visual SELL signal on top when conditions are met. BARE IN MIND NO STOP LOSS, NOR ADVANCED EXIT STRATEGY HAS BEEN BUILT.
As well as the chart SELL signal an alert option has also been built into this script.
The script utilizes a VIX indicator (maroon line) and 50 period Momentum (blue line) and Danger/No trade zone(pink shading).
When the Momentum line crosses down across the VIX this is a sell off but in order to only signal major sell offs the SELL signal only triggers if the momentum continues down through the danger zone.
A SELL signal could be given earlier by removing the need to wait for momentum to continue down through the Danger Zone however this is designed only to catch major market weakness not small sell offs.
As you can see from the picture between the big October 2018 and March 2020 market declines only 2 additional SELLS were triggered.
To use this indicator to identify ideal buying then you should only buy when Momentum line is crossed above the VIX and the Momentum line is above the Danger Zone (ideally 3 - 5 days above danger zone)
THIS SCRIPT HAS BEEN BUILT AS A STRATEGY FOR VISUALIZATION PURPOSES ONLY AND HAS NOT BEEN OPTIMIZED FOR PROFIT.
The script has been built to show as a lower indicator and also gives visual SELL signal on top when conditions are met. BARE IN MIND NO STOP LOSS, NOR ADVANCED EXIT STRATEGY HAS BEEN BUILT.
As well as the chart SELL signal an alert option has also been built into this script.
The script utilizes a VIX indicator (maroon line) and 50 period Momentum (blue line) and Danger/No trade zone(pink shading).
When the Momentum line crosses down across the VIX this is a sell off but in order to only signal major sell offs the SELL signal only triggers if the momentum continues down through the danger zone.
A SELL signal could be given earlier by removing the need to wait for momentum to continue down through the Danger Zone however this is designed only to catch major market weakness not small sell offs.
As you can see from the picture between the big October 2018 and March 2020 market declines only 2 additional SELLS were triggered.
To use this indicator to identify ideal buying then you should only buy when Momentum line is crossed above the VIX and the Momentum line is above the Danger Zone (ideally 3 - 5 days above danger zone)
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.