OPEN-SOURCE SCRIPT
Retail Sales v Inflation YoY
Updated
Are high retail sales increases really positive if the inflation rate is higher?
This year over year indicator of retail sales versus inflation levels can be placed in concert with any security to determine how symbols trade when inflation or retail sales are higher. A green histogram is when retail sales are higher than the inflation rate on a year over year basis. Red indicates inflation is higher rate.
The indicator can work with any symbols to see divergences. Feel free to change the positive and negative symbols to run other comparisons.
This year over year indicator of retail sales versus inflation levels can be placed in concert with any security to determine how symbols trade when inflation or retail sales are higher. A green histogram is when retail sales are higher than the inflation rate on a year over year basis. Red indicates inflation is higher rate.
The indicator can work with any symbols to see divergences. Feel free to change the positive and negative symbols to run other comparisons.
Release Notes
The user can adjust the timeframes if using this to compare non-monthly symbols. The default if comparing Retail Sales and Inflation should remain on a monthly timeframe but other granular comparisons can occur with any other symbols on timeframes of your choice.Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.