OPEN-SOURCE SCRIPT
Sahm Rule Recession Indicator (by Alex L.)
Updated
Real-time Sahm Rule Recession Indicator (idea by Claudia Sahm) based on US national unemployment rate.
I added an enhanced feature (optional) that uses slight variation in Sahm's idea and is usable to detect oversold stocks/crypto.
Enjoy!
I added an enhanced feature (optional) that uses slight variation in Sahm's idea and is usable to detect oversold stocks/crypto.
Enjoy!
Release Notes
Fixed the indicator's ability to view US recessions when under ANY security/ticker.So now you can have the recessions displayed when viewing anything (when "Use for Stocks/Crypto" option is unchecked of course).
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.
Disclaimer
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