OPEN-SOURCE SCRIPT
VIX Correlation
Updated
Indicator tracks the 10 day correlation with VIX. I prefer to use this with SPY. Can be a great way to flag tops/melt-ups.
Default settings are set to when the correlation is above 0.2, bars turn red, but you can change this.
Default settings are set to when the correlation is above 0.2, bars turn red, but you can change this.
Release Notes
Simple update as requested to have the option to change the symbol w/ which to correlate with SPY or any other symbol as desired. 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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