OPEN-SOURCE SCRIPT
MMRI by Nico
This indicator is the same indicator created by Gregory Mannarino.
It measures risk in the market:
Extreme 300+
High 200-300
Moderate 100-200
Low 50-100
The formula is simple:
MMRI = DXY * US10Y / 1.61
The chart shows a number that represents the risk in the market at all times. It is useful to have it at all times no matter what chart you are looking.
The original indicator is here: traderschoice.net/about-traders-choice/
Props to Gregory for creating this indicator which has proven to be very useful to assess the risk of the market.
It measures risk in the market:
Extreme 300+
High 200-300
Moderate 100-200
Low 50-100
The formula is simple:
MMRI = DXY * US10Y / 1.61
The chart shows a number that represents the risk in the market at all times. It is useful to have it at all times no matter what chart you are looking.
The original indicator is here: traderschoice.net/about-traders-choice/
Props to Gregory for creating this indicator which has proven to be very useful to assess the risk of the market.
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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