VIX MTF Momentum

Sweet little momentum gadget to track the VIX Index.
What is the VIX?

The CBOE S&P 500 Volatility Index ( VIX ) is known as the 'Fear Index' which can measure how worried traders are that the S&P 500 might suddenly drop within the next 30 days.
When the VIX starts moving higher, it is telling you that traders are getting nervous. When the VIX starts moving lower, it is telling you that traders are gaining confidence.

VIX calculation?

The Chicago Board of Options Exchange Market Volatility Index ( VIX ) is a measure of implied volatility (Of the S&P 500 securities options), based on the prices of a basket of S&P 500 Index options with 30 days to expiration.

How to use:
If VIX Momentum is above 0 (RED) traders are getting nervous.
If VIX Momentum is below 0 (GREEN) traders are gaining confidence.

Follow to get updates and new scripts:
ملاحظات الأخبار: Changed display style to 'columns' which visually looks more clear.
ملاحظات الأخبار: Added High/Low tunnels to detect possible reversals, see image below:
ملاحظات الأخبار: VIX symbol can me modified to other symbols from settings.
ملاحظات الأخبار: Support extended session for vix.
نص برمجي مفتوح المصدر

قام مؤلف هذا النص البرمجي بنشره وجعله مفتوح المصدر، بحيث يمكن للمتداولين فهمه والتحقق منه، وهو الأمر الذي يدخل ضمن قيم TradingView. تحياتنا للمؤلف! يمكنك استخدامه مجانًا، ولكن إعادة استخدام هذا الكود في منشور تحكمه قواعد الموقع. يمكنك جعله مفضلاً لاستخدامه على الرسم البياني.

هل تريد استخدام هذا النص البرمجي على الرسم البياني؟
Appreciation of my work:

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This is one of the best indicators I've ever used
dman103 caidongyangdashen
@caidongyangdashen, Cool, thanks.
how to interpret the High/Low tunnels to detect possible reversals ? great script by the way !
dman103 fiborush
@fiborush, Hey there, The purpose of the High/Low tunnels is try to detect unusual spikes (histogram columns) of the VIX Momentum. For example, in the chart you can see some Histogram spikes with small red dot/arrow above, this means that the red column touches the HIGH tunnel which can lead to conclusion that it is an unusual spike and FEAR is getting higher and a down trend might occur. It's not 100% precise, like everything in trading, and will require trader evaluation, having said that, i might improve the unusual spike mechanics and visuals and add alerts to make it more precise and clear.
+2 رد
fiborush dman103
@dman103, Thanks a lot for the explanation !
Thank you so much for this much-needed indicator. It was a long due.
dman103 subhdash1984
@subhdash1984, Glad to hear that.
Is the indicator working. I seem to add it on charts but can't see it. Its emply in indicator section, unlike the one you showed in photos. Help
dman103 singhpramila3112
@singhpramila3112, Hey, yeah, should work fine, note that the indicator is not overlaying the chart, but at a separate panel, usually at the bottom. The blue squares and big red/green arrows are my drawing.