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JoaoPauloPires
Sep 21, 2020 9:44 PM

Excess liquidity vs SP500 PE ... 

S&P 500 IndexTVC

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Excess liquidity vs SP500 PE ...
Comments
RogerS
Hey Joao, how did you add the excess liquidity indicator to the chart ? Thanks
JoaoPauloPires
@RogerS, Hi there, the indicator is like this:

study("Excess liquidity -> M2 supply minus Nomninal GDP YoY",scale=scale.left)

pe = security("QUANDL:MULTPL/SHILLER_PE_RATIO_MONTH","D",close)

m2 = security("QUANDL:FRED/MYAGM2USM052S","D",close)
gdp = security("QUANDL:FRED/GDP","D",close) //nominal
//plot(roc(pe,250))
plot(roc(m2,250)-roc(gdp,250),color=color.red)
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