This idea involves using the VIX as an indicator to predic when market corrections on the SPX will take place. Timing exists can be a great way to protect profits and increase cash reserves to capture the next bullish run.
@MoonBets, Thank you, much appreciated. I hope you benefit from the idea :)
TradingView
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NQunlocked
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@TradingView thank you Tradingview, I hope the community benefits from this. I love this website!
Sobhan_23
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Yeah I recognize that before,it’s really helpful especially when you are trading indexes,of course it can help you to figure out the market’s condition,thanks for that pal!😁
@khairi5959, Thank you, i have created this manually, unfortunately I don’t have the skills to make this into a script. I will update moving forward based on what the Vix does!
Jake_dev
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@HamzaLeith I can help you write a script for it
NQunlocked
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@Jake_dev, That would be great, I think it is quite possible to define the specific rules needed. Although, its accuracy also depends on using the vix resistance data to fit the "best trendline". So you will start with multiple trendlines and after time with more data at hand you will get the best fit. Do you think scripts capable of doing this? If yes, please connect me through email and we can work on it.