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SPX and Federal Net Liquidity difference

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Script for applying Federal Net Liquidity to the SPX post-2020 monetary policy. Original indicator from jlb05013 with adjustments to make it more readable and usable. When the indicator is above 250 the SPX is overbought and when it's below -250 the SPX is oversold.

It's not perfect, I'm just publishing because I didn't see it already out there.
Nota Keluaran
TradingView was bringing in the variables with different units. Fixed that and removed unnecessary code.
Nota Keluaran
Reconnected FRED dataset for Federal Balance Sheet. The quandl dataset was not working anymore.

Indicator now clearly shows either a) a strong over-valuation in the market or b) the indicator no longer applies
Nota Keluaran
Updated to plot SPX within the chart so it is a complete chart regardless of which symbol you have on the main pane.
Nota Keluaran
Changed chart in published version

Penafian

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