OPEN-SOURCE SCRIPT
VixFixLinReg-Indicator
Same as VixFixLinearRegression strategy published earlier - but as indicator for those who want to use it as indicator.
Strategy can be found here:
Concept is simple:
Based on VixFix script by Chris Moody. VIX-Fix can sometime give early signal. Hence, apply linear regression for better estimation of market bottom. Area above 0 shows VixFix whereas the below 0 area is linear regression of VixFix. To estimate market bottom:
Have also added option candle color to highlight bottom and alert condition for those who want to use it.
Strategy can be found here:
Concept is simple:
Based on VixFix script by Chris Moody. VIX-Fix can sometime give early signal. Hence, apply linear regression for better estimation of market bottom. Area above 0 shows VixFix whereas the below 0 area is linear regression of VixFix. To estimate market bottom:
- First wait for VixFix to turn lime
- Then wait for linear regression to turn lime from green.
- VixFix may no longer be lime by linear regression chages. But, that's ok.
Have also added option candle color to highlight bottom and alert condition for those who want to use it.
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.
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