OPEN-SOURCE SCRIPT
My Custom Index
A small indicator to create custom index (Max 10 constituents)
This tool allows:
This indicator automatically adjusts for the index plot as and when the constituents got listed on the exchange (or when the first data) is available. So there is a possibility of a "jump" in the graph, when a new constituent got listed. Whenever in time a new constituent is included, a "diamond" sign is placed below to indicate the same.
This code is based on the "Make Your Own Index!" by Stefan @Scheplick. Thanks to him.
This tool allows:
- Define upto 10 instruments for creating custom index
- Define % contribution for each
- Activate / Disable constituents by merely tick/untick
- Choose to skip adding weights per constituent, by selecting "Equi Weights"
- Display a benchmark index (Selectable)
- Normalise the plot so that proper inference can be made
This indicator automatically adjusts for the index plot as and when the constituents got listed on the exchange (or when the first data) is available. So there is a possibility of a "jump" in the graph, when a new constituent got listed. Whenever in time a new constituent is included, a "diamond" sign is placed below to indicate the same.
This code is based on the "Make Your Own Index!" by Stefan @Scheplick. Thanks to him.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.