OPEN-SOURCE SCRIPT
My:MANNARINO MARKET RISK INDICATOR
Updated
Based on the Risk Factor
This indicator shows the current Risk state of the market.
Historically, a high risk number was followed by a downtrend (to not say crash) in the market.
The indicator has 2 configuration options : Show Historic and Show Scale
- When Show Historic is checked, a new column is showing with the 3 last market crashes and what was the Risk Value
- When Show Scale is checked, a new column is showing with the 4 different states of the Risk, low - medium - high - extreme
This indicator shows the current Risk state of the market.
Historically, a high risk number was followed by a downtrend (to not say crash) in the market.
The indicator has 2 configuration options : Show Historic and Show Scale
- When Show Historic is checked, a new column is showing with the 3 last market crashes and what was the Risk Value
- When Show Scale is checked, a new column is showing with the 4 different states of the Risk, low - medium - high - extreme
Release Notes
One additional configuration option : Mode -> Show the Risk in a simplified view (table) at the bottom right of the panel or show the Risk in a line chart in a separate panel.When the mode is on Table, you can move the panel using the 3 dots dropdown menu "Move the panel to the upside".
Here is the new mode "Chart Line", including a % of progression in the tooltip since the last 1-7-30 days
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.
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.