I couldn't find one based on the original, so I made my own, it's not quite identical, but it does the job.
Red = greed Green = fear
I updated a lot of the subcomponents and fixed a bug. I've reduced the smoothing to 1, it was previously 5 if you prefer smoother signals. Also added a McClellan oscillator.
I've commented out the plotting of individual sub-components, just uncomment them to see what they do. Some look like pretty useful indicators on their own.
Enjoy!
Informacje o Wersji
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Added built in divergence lines and bollinger bands. Made some minor changes.
Regarding the divergence lines, the fear and greed index which this is based on is, apparently, supposed to be a market timing indicator, although it may well be better off being used as a momentum indicator. Because of this I am not certain that the upper divergence lines should be red to indicate bearish divergences and green for bullish ones. Let me know if you have any thoughts about that.
It is interesting to note how on Feb 21, 2020, the chart dipped directly from greed into fear territory, breaking a support and / or trend line the day BEFORE the beginning of the start of massive Covidiot market smackdown!
this looks really good, thanks a lot for the effort and sharing this. Is the AUD rate of change in the original F&G index? Can we replace PC with PCC instead?
barnabygraham
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@weikiat8, Thanks and you're welcome. The AUD rate of change is not in the original index. Yes, you can replace PC with any put-to-call ratio you like if you want, but for now, you'll need to make your own version of the script and edit the code.
barnabygraham
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Beware that this indicator is designed for the daily chart only!
xenit0
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Thank you for the indicator, my friend, but it is not opening for me.
barnabygraham
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@xenit0, You're welcome, but it's working fine for me. What's the problem exactly? Do you see an error message?