OPEN-SOURCE SCRIPT
Index of indexxes
Updated
Hi, this is pretty straight forward. This is the DXY equivalent of NDX, SPX, RUT, DJ. It's a full index of the US market.
You can play with the weights, drag and drop, let's say SPX and see how SPX performs compared to the four major indexxes.
You can play with the weights, drag and drop, let's say SPX and see how SPX performs compared to the four major indexxes.
Release Notes
I made the script much more customizable.Choose how many instruments your index should have, assign weights to them and you have your weighted index.
Weight of 0 means that this instrument will not have any influence on the overall index.
Uses:
- You might create a portfolio from different instruments and weights and check it's past performance (this mother of all indexxes will be your portfolio index)
- You might create an index from NDX, SPX, RUT, DJ and see how the whole US market performs. Then you can compare it to the NDX and see if it's outperforming, underperforming
Uses are limitless! Good luck mates
Release Notes
Renamed it :)Release Notes
Chosen a nicer pictureRelease Notes
again, picture updateOpen-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.
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