OPEN-SOURCE SCRIPT
Put/Call Ratio De-Trended
Experimenting with de-trending the various Put/Call Ratios.
Use with tickers PCCE, PCC, PCE, PCOEX, etc. Type "PUT" in the ticker field to see the many options. Use daily charts. Then you can hide the put call ratio and overlay SPX to see the signals. The default MAs are a common way to detrend. Basically takes the 10 day moving average and 127 day moving average(half year in trading days), to "de-trend" the ratio to weed out the noise that is seen in the ratio.
If you can find anything useful or interesting with this, let me know. I think it is useful as is, but if you find an interesting way to use it let me know.
Use with tickers PCCE, PCC, PCE, PCOEX, etc. Type "PUT" in the ticker field to see the many options. Use daily charts. Then you can hide the put call ratio and overlay SPX to see the signals. The default MAs are a common way to detrend. Basically takes the 10 day moving average and 127 day moving average(half year in trading days), to "de-trend" the ratio to weed out the noise that is seen in the ratio.
If you can find anything useful or interesting with this, let me know. I think it is useful as is, but if you find an interesting way to use it let me know.
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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