VIX MTF MomentumSweet little momentum gadget to track the VIX Index.
What is the VIX?
The CBOE S&P 500 Volatility Index (VIX) is known as the 'Fear Index' which can measure how worried traders are that the S&P 500 might suddenly drop within the next 30 days.
When the VIX starts moving higher, it is telling you that traders are getting nervous. When the VIX starts moving lower, it is telling you that traders are gaining confidence.
VIX calculation?
The Chicago Board of Options Exchange Market Volatility Index (VIX) is a measure of implied volatility (Of the S&P 500 securities options), based on the prices of a basket of S&P 500 Index options with 30 days to expiration.
How to use:
If VIX Momentum is above 0 (RED) traders are getting nervous.
If VIX Momentum is below 0 (GREEN) traders are gaining confidence.
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Fearindicator
Fear And Greed IndicatorThe Fear And Greed Indicator is a very popular indicator on the Bloomberg platform and since I didn't have actual source code to work with, this is a very close approximation of that indicator. Let me know if you spot any discrepancies with the original and I will do my best to fix them.
For buy and sell signals it is pretty straightforward. Just buy when the green (greed) is in control and sell when the fear (red) is in control
This was a special request so let me know if you want to see more scripts from me or if you want something custom!
