OPEN-SOURCE SCRIPT
Combo VIX and DXY

Hello traders
It's been a while :)
I wanted to share a cool script that you can use for any asset class.
The script isn't really special - though what it displays is super helpful
Volatility Index
VIX
(Source: Wikipedia)
VIX is the ticker symbol and the popular name for the Chicago Board Options Exchange's CBOE Volatility Index, a popular measure of the stock market's expectation of volatility based on S&P 500 index options.
It is calculated and disseminated on a real-time basis by the CBOE, and is often referred to as the fear index or fear gauge.
I consider that a
VIX above 30% is a very bearish signal.
Above 30% translating investors selling in masse their assets. #blood #on #the #street
Dollar Index
DXY
(Source: Wikipedia)
The U.S. Dollar Index (USDX, DXY, DX, or, informally, the "Dixie") is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners' currencies.
The Index goes up when the U.S. dollar gains "strength" (value) when compared to other currencies.
The index is designed, maintained, and published by ICE (Intercontinental Exchange, Inc.), with the name "U.S. Dollar Index" a registered trademark.
It is a weighted geometric mean of the dollar's value relative to following select currencies:
In "bear markets", the
DXY usually goes up.
People are selling their hard assets to get some
USD in return - pumping the
DXY higher
Corollary
I'm not sure which one happens first between a bearish
DXY or bearish $DXY... though both are usually correlated
If:
-
VIX goes above 30%, usually
DXY increases and assets versus the good old'
USD drop
-
VIX goes below 30%, usually
DXY decreases and assets versus the good old'
USD increases
This is a nice lever effect between both the
VIX,
DXY and the assets versus the
USD
That's being said, I don't only use those 2 information to enter in a trade.
It gives me though a strong confirmation whenever I'm long or short
Imagine I get a LONG signal but the combo
VIX +
DXY is bearish... this tells me to be cautious and to:
- enter at a pullback
- protect my position quickly at breakeven
- take my profit quick
For a mega bull market (some called it hyperinflation), you want your fiat to drop in value for the counter-asset to increase in value.
And before you ask.... yes I look at what
DXY is doing before taking a trade on
BTCUSD :)
In other words,
DXY going down is quite bullish for Bitcoin.
Settings and Alerts
The settings by default are the ones I use for my trading.
The background colors will be colored whenever the COMBO is bullish (green) or bearish (red)
Alerts are enabled using the brand new alert function published last week by TradingView
That's it for today, I hope you'll like it :)
PS: In this chart above, I'm using the Supertrend indicator from KivancOzbilgic
Dave
It's been a while :)
I wanted to share a cool script that you can use for any asset class.
The script isn't really special - though what it displays is super helpful
Volatility Index
(Source: Wikipedia)
VIX is the ticker symbol and the popular name for the Chicago Board Options Exchange's CBOE Volatility Index, a popular measure of the stock market's expectation of volatility based on S&P 500 index options.
It is calculated and disseminated on a real-time basis by the CBOE, and is often referred to as the fear index or fear gauge.
I consider that a
Above 30% translating investors selling in masse their assets. #blood #on #the #street
Dollar Index
(Source: Wikipedia)
The U.S. Dollar Index (USDX, DXY, DX, or, informally, the "Dixie") is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners' currencies.
The Index goes up when the U.S. dollar gains "strength" (value) when compared to other currencies.
The index is designed, maintained, and published by ICE (Intercontinental Exchange, Inc.), with the name "U.S. Dollar Index" a registered trademark.
It is a weighted geometric mean of the dollar's value relative to following select currencies:
- Euro (EUR), 57.6% weight
- Japanese yen (JPY) 13.6% weight
- Pound sterling (GBP), 11.9% weight
- Canadian dollar (CAD), 9.1% weight
- Swedish krona (SEK), 4.2% weight
- Swiss franc (CHF) 3.6% weight
In "bear markets", the
People are selling their hard assets to get some
Corollary
I'm not sure which one happens first between a bearish
If:
-
-
This is a nice lever effect between both the
That's being said, I don't only use those 2 information to enter in a trade.
It gives me though a strong confirmation whenever I'm long or short
Imagine I get a LONG signal but the combo
- enter at a pullback
- protect my position quickly at breakeven
- take my profit quick
For a mega bull market (some called it hyperinflation), you want your fiat to drop in value for the counter-asset to increase in value.
And before you ask.... yes I look at what
In other words,
Settings and Alerts
The settings by default are the ones I use for my trading.
The background colors will be colored whenever the COMBO is bullish (green) or bearish (red)
Alerts are enabled using the brand new alert function published last week by TradingView
That's it for today, I hope you'll like it :)
PS: In this chart above, I'm using the Supertrend indicator from KivancOzbilgic
Dave
开源脚本
本着TradingView的真正精神,此脚本的创建者将其开源,以便交易者可以查看和验证其功能。向作者致敬!虽然您可以免费使用它,但请记住,重新发布代码必须遵守我们的网站规则。
⭐️ Listed as an Official TradingView Trusted TOP Pine Programmer
📧 Coding/Consulting Inquiries: dave@best-trading-indicator
Telegram: Daveatt
⏩ Course: best-trading-indicator.com
Twitter: twitter.com/bti_trading
📧 Coding/Consulting Inquiries: dave@best-trading-indicator
Telegram: Daveatt
⏩ Course: best-trading-indicator.com
Twitter: twitter.com/bti_trading
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神,此脚本的创建者将其开源,以便交易者可以查看和验证其功能。向作者致敬!虽然您可以免费使用它,但请记住,重新发布代码必须遵守我们的网站规则。
⭐️ Listed as an Official TradingView Trusted TOP Pine Programmer
📧 Coding/Consulting Inquiries: dave@best-trading-indicator
Telegram: Daveatt
⏩ Course: best-trading-indicator.com
Twitter: twitter.com/bti_trading
📧 Coding/Consulting Inquiries: dave@best-trading-indicator
Telegram: Daveatt
⏩ Course: best-trading-indicator.com
Twitter: twitter.com/bti_trading
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。