Fear and Greed Index Strategy

A losing strategy. The script is needed for demonstration purposes. Do not use the Fear and Greed Index.

Indicator

The black line shows the values of the Fear and Greed Index.
The index values are not updated!
Available values are from 01-01-2020 to 30-01-2022.

Settings

You can change the thresholds for fear and greed. The default values are 25 for fear and 75 for greed. These are the values recommended by the original authors of the Fear and Greed Index.

Background

If the index value is 75 or more, the background color is lime.
If the index value is 25 or less - red background color.
If index value is between 25 and 75 - no background.

Strategy

If the index value is 25 or less - open a long position (and close a short position).
If the index value is 75 or more - open a short position (and close a long position).
Reversal strategy.