OPEN-SOURCE SCRIPT
SPX Fair Value Bands WSHOSHO
Updated
This is a variation of the SPX Fair Value Bands indicator which uses WSHOSHO instead of WALCL.
WSHOSHO only includes the 'Securities Held Outright' portion of the Fed balance sheet. This effectively eliminates the portions related to BTFP (Bank Term Funding Program).
WSHOSHO only includes the 'Securities Held Outright' portion of the Fed balance sheet. This effectively eliminates the portions related to BTFP (Bank Term Funding Program).
Release Notes
Raise the lower band.Instead of -300, use -200.
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.
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