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Market Index Strength by Keiron Richie
By combining the true strength of the Nasdaq (NDX) and S&P500 (SPY) we can then compare that against the volatility /fear index (VIX). The true strength of the Volatility Index (VIX) is shown by the red area and the Nasdaq (NDX) and S&P500 (SPY) by the silver/teal areas.
The yellow EMA line shows the average difference between the VIX and the NDX/SPY indexes. When the yellow line crosses above the zero line and is climbing it means that the NDX/SPY are strengthening. When the yellow line is decreasing or crosses under the zero line it means the fear (VIX) is becoming stronger and NDX/SPY are weakening.
When looking at charts of companies/components listed on the Nasdaq and/or S&P 500 you will notice a frequent correlation between the movement of the yellow line depicting index health and the strength of the chart you are viewing. It’s a very quick and effective method of seeing the strength and fear within the market indexes and how they are effecting your chart.
The background color changes based on the market strength combined with the active symbol true strength. Green is a buy zone, Red is a sell zone.
It is tested and works well on all timeframes with Stocks listed on NASDAQ & S&P500. It does not include buy/sell alerts.
The yellow EMA line shows the average difference between the VIX and the NDX/SPY indexes. When the yellow line crosses above the zero line and is climbing it means that the NDX/SPY are strengthening. When the yellow line is decreasing or crosses under the zero line it means the fear (VIX) is becoming stronger and NDX/SPY are weakening.
When looking at charts of companies/components listed on the Nasdaq and/or S&P 500 you will notice a frequent correlation between the movement of the yellow line depicting index health and the strength of the chart you are viewing. It’s a very quick and effective method of seeing the strength and fear within the market indexes and how they are effecting your chart.
The background color changes based on the market strength combined with the active symbol true strength. Green is a buy zone, Red is a sell zone.
It is tested and works well on all timeframes with Stocks listed on NASDAQ & S&P500. It does not include buy/sell alerts.
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僅作者批准的使用者才能訪問此腳本。您需要申請並獲得使用許可，通常需在付款後才能取得。更多詳情，請依照作者以下的指示操作，或直接聯絡VentureWealth。
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作者的說明
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這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。