OPEN-SOURCE SCRIPT
Buy The Dip - Indexing
This indicator is meant to both show you, and alert you when the market pulls back to various levels. Everything is customizable via the scripts settings. Let me know if you would like anything added.
ps. this was built for use on the weekly candles of an economy-tracking index like SPY, however this will work on any security, and any timeframe.
Levels:
Normal Volatility: 5%
Market Correction: 10%
Market Crash: 20%
Black Swan: 30%
ps. this was built for use on the weekly candles of an economy-tracking index like SPY, however this will work on any security, and any timeframe.
Levels:
Normal Volatility: 5%
Market Correction: 10%
Market Crash: 20%
Black Swan: 30%
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.
Want to use this script on a chart?
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.