Feel the force ... read the source.
Give you an idea of the contango headwind / backwardation tailwind that UVXY is experiencing.
Works on Daily time frame only unless you buy the VIX feed.
Give you an idea of the contango headwind / backwardation tailwind that UVXY is experiencing.
Works on Daily time frame only unless you buy the VIX feed.
study("UVXY Contango Rate")
VIX = security("VIX", "D", close)
UVXY = security("UVXY", "D", close)
contangoRatio = UVXY/VIX
contangoRate = 1-(contangoRatio[1]- contangoRatio[0])
fastemaCR = ema(contangoRate,7)
slowemaCR = ema(contangoRate,27)
h0 = hline(1, color=white)
plot(contangoRate, color=gray)
plot(fastemaCR, color=white)
plot(slowemaCR, color=black)
bgcolor(slowemaCR > .996 ? red : blue, 60 )