VIX Oscillator

28 sty 2023

This is my VIX Oscillator indicator.


About it:

This indicator takes the Z-Score of the VIX and of the current ticker you are on and presents them in the format of an oscillator.

Key parts of the indicator:



A diagram of the key elements of the indicator are displayed above.

Purple Line: Represents the Z-Score of the current Ticker.
Blue Line: Represents the Z-Score of the VIX
Green fill line: Represents bullish divergence
Red fill line: Represents bearish divergence

How to use it:

Characteristics for long entries:



- Look for recent bullish divergence (green fill line)
- Look for the ticker line (purple line) to be holding above 0 (neutrality)
- look for a bullish cross (purple line (ticker) crossing over blue line (VIX))

Characteristics for short entries:



- Look for recent Bearish divergence
- Look for the VIX line (blue line) to be holding above 0 and the Ticker
- Look for the ticker line to be holding below 0
- Look for a bearish cross (blue crossing above purple)


Some principles:

The bands represent oversold, overbought and neutral.

0 is absolute neutrality. No bias here.

Anything towards + 2.5 is considered normal, moving towards overbought (2.5 or higher).

Anything towards -2.5 is considered normal, moving towards oversold (-2.5 or lower).

+2.5 or higher is overbought.
-2.5 or lower is oversold.


As always, I have prepared a quick tutorial video for your reference of this indicator:

Please let me know your questions, comments or suggestions about this indicator below.

Thank you for checking it out!

29 sty 2023

Informacje o Wersji

Quick update so that the indicator defaults to the chart. I know this caused some confusion.

Also defaults to the 75 timeframe.

The 2 timeframes I use for intra-day trading is 14 and 75. I find the 75 less "noisy".

The timeframe I use for large analysis (1 hour and Daily) tends to be the 14.

Experiment as you like :-).

5 lut 2023

Informacje o Wersji

Cleaned up coding. No functional change.

30 kwi 2023

Informacje o Wersji

Updated based on user feedback.

Now permits setting alert conditions for Bearish and Bullish instances.

Bullish = VIX is overbought (Z-Score >= 2.5) and Ticker is oversold (Z-Score <= -2.5)
Bearish = VIX is oversold (Z-Score >= -2.5) and Ticker is overbought (Z-Score <= 2.5)

Cleaned up the coding as well.