OPEN-SOURCE SCRIPT
Updated ES-SPX Premium Plot
This Pine Script indicator calculates and plots the premium (basis) between the E-mini S&P 500 futures (ES) and the S&P 500 cash index (SPX). It displays the difference as a line chart in a separate pane, helping traders identify fair value discrepancies, arbitrage opportunities, or market sentiment shifts driven by interest rates, dividends, and time to expiry. Apply to ES1! charts for real-time analysis.
Release Notes
This Pine Script indicator calculates and plots the premium (basis) between the E-mini S&P 500 futures (ES) and the S&P 500 cash index (SPX). It displays the difference as a line chart in a separate pane, helping traders identify fair value discrepancies, arbitrage opportunities, or market sentiment shifts driven by interest rates, dividends, and time to expiry. Apply to ES1! charts for real-time analysis.Release Notes
Update: Cleaned up code formatting.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.